Matsa Resources Reports New Gold Intercepts at Fortitude North

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) will be keen to speak with delegates at the RIU Sydney Resources Roundup about recent drilling results from Fortitude North at the company’s Lake Carey gold project in Western Australia.

Matsa Resources reported its latest drilling campaign has extended the Fortitude North mineralised zone by almost 200 metres to the north resulting in a strike extent of 1.7 kilometres that remains open in both directions along strike.

The drilling has now extended mineralisation across strike to the east by 60m for a new total width of some 250m.

Matsa declared it has become clear that the Fortitude North mineralisation remains open at depth.

“Our recent drilling results have returned thicker packages of mineralisation than we’ve seen before,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.

“What is really pleasing is that the mineralised zone has been extended and remains open along strike, and importantly, across strike to the east as well.

“Downdip has also not been tested to its full extent.”

Matsa explained that the MRE it had pencilled in earlier this year at Fortitude North that it expected would take the total Lake Carey gold project resource base to over one million ounces would now be postponed.

“Whilst this new drilling is sufficient to formalise a model over a small portion of the deposit, we’ve chosen not to embark on completion of a technical JORC compliant model at this stage,” Poli said.

“Why? Because we only need 114,000 ounces to get us over the one million ounce resource mark and we firmly believe we’d be selling Fortitude North short, when the prize appears to be so much bigger.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE