Matsa Resources (ASX:MAT) has reported multiple ‘high-grade’ gold intercepts from its first diamond drilling program at the Fortitude North prospect within the Lake Carey Gold Project in Western Australia.
The company has completed seven holes for 2,521m as part of an initial 10,000m campaign.
Assays from the first four holes returned ‘significant results’, including 15.2m @ 2.93 grams per tonne gold (Au) from 298.8m and 8.4m @ 3.62g/t Au from 123.6m.
Other key intercepts include 12.8m @ 2.43g/t Au from 128.4m in hole 26FNDD013. Hole 26FNDD016 returned multiple zones, including 6.9m @ 3.08g/t Au from 106.5m, 3m @ 5.26g/t Au from 124m, and 2.9m @ 8.67g/t Au from 286.7m.
“We continue to see multiple stacked, thick high-grade gold zones at Fortitude North in drilling to date,” Executive Chairman Paul Poli says.
“The Matsa Board is resolute in building its Lake Carey gold resources, and this drilling at Fortitude North is a part of that growth path.”
The Fortitude North prospect sits within the Fortitude Shear gold corridor, a regionally significant structure that hosts numerous gold deposits, including the 489,000oz Fortitude Gold Deposit located immediately along strike.
Diamond drilling has intersected mineralisation across multiple stacked lodes over a strike extent exceeding 1.7km.
Mineralisation is defined by distinct albite-sericite-silica alteration of the host mafic sequence, with associated pyrite and arsenopyrite.
Gold grades typically reflect a ‘higher-grade’ core with strong alteration and quartz within a less-altered, lower-grade halo.
Matsa currently operates a diamond drill rig from the shore and plans to transition to a lake-based drill rig shortly to continue the program.
Previous exploration has traced mineralisation along the Fortitude Shear structure for over 13.5km, remaining open to the north.
Prior drilling at Fortitude North returned intercepts, including 22m @ 9.20g/t Au and 8.3m @ 9.00g/t Au.
The company plans to use results from the current program to inform a significantly expanded RC and diamond drilling campaign to test the potential of the currently defined 1.7km aircore gold anomaly.
Matsa Resources is a Western Australian gold explorer and developer advancing the Lake Carey Gold Project, with additional lithium and base metals exploration assets in Thailand.
Write to JC Villarba at Mining.com.au
Images: Matsa Resources
