- Matsa Resources (MAT) has announced recent drilling has confirmed high-grade gold mineralisation continues at its Devon mine
- Drilling was conducted in December last year and aimed at testing the continuity of gold mineralisation
- Further drilling is planned to better define this mineralisation in the Main Lode and the Hanging Wall Lode
- Shares in Matsa Resources remain flat and are trading for 14 cents each
Matsa Resources (MAT) has announced positive preliminary results from reverse circulation (RC) drilling at its Devon mine within the Lake Carey gold project.
A total of five holes, for 733 metres, were drilled at Devon in December last year and was aimed at testing the continuity of gold mineralisation below historic underground and open-pit mine workings.
Drilling confirmed the continuation of high-grade mineralisation within Matsa’s Lake Carey gold project in the Eastern Goldfields.
Highly encouraging gold results include: 3 metres at 35.03 g/t gold, 3 metres at 5.93 g/t gold and 3 metres at 1.56 g/t gold, and 3 metres at 1.38 g/t gold within the Main Lode.
Intercepts from the Hanging Wall Lode include: 15 metres at 20.78 g/t gold (including 3 metres at 94.1 g/t gold) and 3 metres at 5.98 g/t gold.
Mineralisation within the Hanging Wall Zone was not previously mined and, according to Matsa, appears to be poorly tested by previous works. This shows there is a lot of potential in future exploration.
The iron ore company sees vast potential at the Devon mine due to its complex structural setting which means its holds excellent potential for structural repetitions of the main lode zone and associated mineralised structures.
Devon is an active mine site that is currently under care and maintenance and the approvals process to recommence mining is expected to be straightforward.
Additionally, all relevant leases are now wholly-owned by Matsa and the project can now be evaluated without boundary restrictions.
Further drilling is planned to better define this high-grade mineralisation in the Main Lode and the Hanging Wall Lode.
A test IP (induced polarisation) survey is also planned to confirm whether high-grade lodes can be detected using this technique.
Shares in Matsa Resources remain flat and are trading for 14 cents each at market close.