- Matsa Resources’ (MAT) recent sub-audio magnetic (SAM) survey has identified 38 favourable gold targets at the Devon pit prospect in WA
- The SAM survey was designed to cover a strongly mineralised area southeast of Devon and Hill East, where previous drilling intersected significant gold
- Of the 38 targets identified, three have been prioritised for immediate drill testing
- These three targets are a mix of electromagnetic anomalies and magnetometric conductive zones
- Additional targets are currently being evaluated and will be refined over the coming months through field inspection, drilling and sampling
- Matsa has ended the day 2.35 per cent in the red with shares trading at 8.3 cents
Matsa Resources’ (MAT) recent sub-audio magnetic (SAM) survey has identified 38 favourable gold targets at the Devon pit prospect.
Devon lies within Matsa’s Lake Carey Gold Project, which is situated within the Laverton Tectonic Zone in Western Australia.
The SAM survey was designed to cover a strongly mineralised area southeast of Devon and Hill East where previous drilling intersected significant gold at a shallow depth.
Previous work in this area has returned results of four metres at 6.3g/t gold from 13 metres, five metres at 4.01g/t gold and six metres at 3.43g/t gold from 15 metres.
Mineralisation at Hill East is typically associated with high-grade quartz veins which are mineralised over a strike of more than 200 metres and associated with historical gold workings.
Southern Geoscience Consultants were hired to process, interpret and report on the results.
Of the 38 targets identified, three have been prioritised for immediate drill testing.
One of the targets is a strong electromagnetic anomaly that is coincident with zone of stockwork quartz veining.
No prior drilling has been undertaken at this target, which is covered with a soil gold anomaly measuring more than one kilometre.
The second target is an east-southeast trending magnetometric conductive zone which links the HE1 and HE2 targets at Hill East.
The final target is also an east-northeast magnetometric conductive zone which neighbours Target HE5 at Hill East.
Additional targets are currently being evaluated and will be refined over the coming months through field inspection, drilling and sampling.
Matsa has ended the day 2.35 per cent in the red with shares trading at 8.3 cents in a $23.04 million market cap.