Testing Estimated Exploration Target At Lake Cary
Matsa Resources Limited (ASX: MAT) has received promising assay results from recent Reverse Circulation (RC) drilling at the company’s Devon Prospect within the Lake Cary Gold Project located in the Eastern Goldfields of Western Australia.
The RC drilling programme comprised 46 RC drill holes for a total of 5,075m and was part of Matsa’s stated objective of increasing the company’s resource base within the Lake Carey gold project through discovery of new gold mineralisation.
An Exploration Target of between 100,000 and 250,000 ounces of gold was estimated at Devon based on historic drilling and more recent drilling conducted by Matsa.
Drilling was designed to test the resource potential of the Exploration Target at Devon in terms of grade, continuity, depth and strike extents of the moderately SW dipping Main Lode and the adjacent more steeply dipping Hanging Wall Lode.
The high-grade Devon gold mine is one of a number of exploration targets being tested within the Company’s Lake Carey gold project.
Assay results to date have further defined gold mineralisation within the Main Lode and Hanging Wall Lodes which remain open down plunge and at depth respectively as previously described at Devon3.
Devon RC Drilling Results
Significant intercepts from recent RC drilling include:
Main Lode Zone Intercepts
- 5m @ 2.13 g/t Au from 75m incl 1m @ 8.43 g/t Au
- 1m @ 22.07 g/t Au from 70m
- 4m @ 15.5 g/t Au from 71m, incl 3m @ 19.6 g/t Au
- 2m @ 8.23 g/t Au from 65m, incl 1m @ 15.19 g/t Au
- 3m @ 6.33 g/t Au from 59m
- 3m @ 10.56 g/t Au from 119m, incl 1m @ 25.93 g/t Au
- 2m @ 11.3 g/t Au from 95m, incl 1m @ 20.95 g/t Au
- 5m @ 2.44 g/t Au from 110m, incl 1m @ 9.1 g/t Au
Hanging Wall Lode Intercepts
- 1m @ 18.71 g/t Au from 46m
- 12m @ 8.97 g/t Au from 14m, incl 2m @ 24.08 g/t Au & 1m @ 50.39 g/t Au
- 2m @ 6.56 g/t Au from 72m , incl 1m @ 12.23 g/t Au
- 3m @ 7.83 g/t Au from 62m
Matsa told shareholders that the Main Lode appears to plunge at a shallow angle to the north and remains open and next phase drilling is planned to more fully define the mineralisation, with drilling confirmif the complex structural nature of both the Main and the Hanging Wall lodes
The Hanging Wall Lode, which does not outcrop at surface and with no historic mining, remains very sparsely drilled. Future drilling will seek to test the shallow depth potential and extensions to mineralisation to the north which remains open
Down-hole optical televiewer surveys providing oriented structural and lithological data were successfully completed in many of the recent RC drill holes. Analysis of this data is planned to be carried out in order to more accurately define structure, geological contacts and mineralisation.
Multi-element check assays are planned over selected intervals in order to examine potential pathfinder and alteration signatures to gold mineralisation. Diamond drilling to obtain oriented drill core through Devon is planned once all assays have been received and a complete assessment of results has been carried out.
