Join our daily newsletter At The Bell to receive exclusive market insights
- Matsa Resources (MAT) has completed its reverse circulation drilling program at the Devon Hub, located within its Lake Carey Gold Project in WA
- The drilling program included 42 holes for 3677 metres
- Drilling aimed to discover new mineralisation and grow Devon’s resource base after an initial mineral resource was delivered in April
- Matsa is expecting to receive these results over the next six weeks
- On the market, Matsa is up 1.22 per cent and is trading at 8.3 cents per share
Matsa Resources (MAT) has completed its reverse circulation drilling program at the Devon Hub, located within its Lake Carey Gold Project in Western Australia.
The company commenced the drilling program last month to focus on six targets at Devon.
The drilling program included 42 holes for 3677 metres and aims to discover new gold mineralisation at Devon following the recent initial mineral resource.
Matsa is expecting to report its assay results from three-metre composite samples over the next six weeks.
Targets from the drilling program were identified from Matsa’s recently completed sub-audio magnetic and soil geochemical surveys.
Lake Carey is located within the Laverton tectonic zone and includes Red October, Fortitude and Devon Mine, which contains a significant number of historic gold workings.
The company has established mineral resources of 654,000 ounces and an ore reserve of 58,000 ounces at the Lake Carey Gold Project. Further exploration and mine planning is, in time, expected to grow this mineral resource and ore reserve base.
On the market, Matsa is up 1.22 per cent and is trading at 8.3 cents per share at 10:04 am AEST.
