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Matsa Resources (ASX:MAT) - Executive Chairman, Paul Poli - The Market Herald
Executive Chairman, Paul Poli
Source: Kalgoorlie Miner
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  • Matsa Resources (MAT) and its joint venture partner, Bulletin Resources (BNR), have identified several new gold zones at the Lake Rebecca Gold Project in WA
  • The companies wrapped up a major drilling program last month, which targeted anomalous gold zones
  • A stand-out was the 2.4-kilometre gold trend uncovered at the eastern half of the project
  • Pleasingly, the new discoveries are comparable to the gold anomaly which led to the discovery of Apollo Consolidated's (AOP) nearby Rebecca gold deposit
  • Looking ahead, the companies will undertake further drilling beneath the new gold zones and will follow-up on targets along strike
  • Matsa ended the day 2.04 per cent in the green to trade at 10 cents
  • Bulletin also ended the day up a slight 1.27 per cent with shares closing at 8 cents

Aircore drilling at Matsa Resources' (MAT) Lake Rebecca Gold Project has uncovered a 2.4-kilometre gold trend in the eastern half.

Lake Rebecca is located in Western Australia and is held in a joint venture with Bulletin Resources (BNR). Bulletin owns 80 per cent of the project and Matsa owns the remaining 20 per cent.

The joint venture partners concluded the drilling program last month. A total of 182 holes, for 7307 metres, were drilled to target anomalous gold zones.

Excitingly, the new gold zone is one of several newly discovered gold zones that are comparable to the gold anomaly which led to the discovery of Apollo Consolidated's (AOP) nearby Rebecca gold deposit.

Results from this program include two metres at 2.72g/t gold from 33 metres including one metre at 4.86g/t gold from 33 metres, seven metres at 0.73g/t gold from 76 metres including one metre at 2.03g/t gold from 82 metres and three metres at 0.75g/t gold from 76 metres.

"The Lake Rebecca Project is getting really exciting. The results of the first-up aircore drilling program are fantastic and show that the Lake Rebecca area could host multiple gold mineralised zone," Matsa Resources Chairman Paul Poli said.

"Bulletin Resources are the project managers and are doing are fantastic job exploring this interesting and previously unexplored area. Bulletin’s chief geologist Mr Mark Csar is producing results very early in the piece, it’s a credit to him," he added.

The discovery of these mineralised zones has given Matsa and Bulletin strong encouragement to find more gold deposits at Lake Rebecca.

Planning is now underway to begin reverse circulation drilling beneath the new gold zones and to follow-up on targets along strike.

Matsa ended the day 2.04 per cent in the green to trade at 10 cents.

Bulletin also ended the day up a slight 1.27 per cent with shares closing at 8 cents.

MAT by the numbers
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