Matsa Resources (ASX:MAT) has reported AngloGold Ashanti (NYSE:AU) has identified a significant mineralised gold trend over a 2km strike extent at the Lake Carey Gold Project in Western Australia.
AngloGold has completed 41 holes for 11,355m comprising reverse circulation, diamond core, and diamond tail drilling on Matsa’s tenement M39/599 under the Tenement Option Agreement executed in February 2025.
Assay results received for 34 holes highlight widespread gold mineralisation, with peak intercepts including 14m @ 3.13 grams per tonne gold from 153m in hole TYRC089D, including 6.0m @ 5.54g/t from 153m and 2m @ 4.51g/t from 275m.
Other significant results include 1.0m @ 5.63g/t from 87m and 3.0m @ 5.36g/t from 104m in TYRC167D, 7.0m @ 1.20g/t from 74m in TYRC081D, and 1.0m @ 10.87g/t from 238m in TYRC088D.
Gold mineralisation was intersected in 22 of the 36 holes where assays have been received. Peak gold values range up to 12.61g/t, with 114 intercepts grading more than 1.00g/t and 53 intercepts grading exceeding 2g/t.
Matsa Resources Executive Chairman Paul Poli says AngloGold has been active in the area over the past six months, conducting geophysical, flora and fauna, and heritage surveys, as well as substantial drilling.
“Drilling and assay results so far are encouraging, and it is clear from some of the depths of the drilling that AngloGold [is] reaching, they are quite serious about the project and what they are aiming to achieve,” Poli says.
Drill holes are spaced at 100m centres on a staggered line spacing between 200m and 400m. The interpreted gold trend appears to remain open-ended to the north and south.
The drilling was completed on adjacent AngloGold tenements E39/1973 and E39/1883 over a 2km strike length directly on the boundary of Matsa Resources’ M39/599, suggesting continuity of the mineralised system.
Write to JC Villarba at Mining.com.au
Images: Matsa Resources
