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Quarterly Report 31 December 2016

Publié le 30 janvier 2017

 

 

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Matsa?s Quarterly Report for the quarter ended

31st December 2016

 

HIGHLIGHTS

Lake Carey Project

?      Works and budget studies ongoing to enable commencement of mining on a soon as practicable basis

?      Clearing permit received for Fortitude mining project with mining proposal expected to be approved in the near future

?      Excellent high grade gold assays were received from Fortitude diamond drilling including:

o   2m @ 17.57g/t Au from 33m including 1m @ 30.2g/t Au

o   6.7m @ 6.66g/t Au from 24m including 0.7m @ 25.7g/t Au

o   4.7m @ 6.68g/t Au from 48.3m

o   4.5m @ 21.8g/t Au from 147.5m including 0.8m @ 89.6g/t Au

o   10.3m @ 3.09g/t Au from 87.7m including 0.9m @ 14.5g/t Au

o   35.3m @ 3.21g/t Au from 49.7m including 12.2m @ 6.12g/t Au from 50.3m which includes 1m @ 15.7g/t Au and 0.6m @ 23.2g/t Au

?      91 of 177 planned aircore drillholes completed over the previously untested Bindah Extended gold target with assays awaited

?      Farm in and JV agreement signed which covers the 46.32km2 Sunrise Dam South project which abuts AngloGold Ashanti?s Sunrise Dam project and contains part of the Bindah Extended gold target

 

Paisali Base Metal Project Thailand

?      Significant copper intercept at Chang 1 of 22m @ 0.4% Cu from 106m within a broader intercept of 48m @ 0.29% Cu from 104m

?      These results strongly support potential for economic copper mineralisation at Chang 1

?      Copper mineralisation is hosted by an altered diorite intrusion with higher grade mineralisation interpreted to be controlled by faults

?      Diamond drilling in progress on a mix of geochemical and structural targets

Corporate

?         Cash and liquid investments as at 31st December approximately $9 million 

 

 

To read the quarterly please click here

                                                                                  

 

 

  For further information contact:

Paul Poli, Executive Chairman

+61 8 9230 3555

 

 

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