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Matsa Resources (ASX:MAT) - Chairman, Paul Poli - The Market Herald
Chairman, Paul Poli
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  • Matsa Resources (MAT) has begun a reverse circulation (RC) drilling program at the Devon prospect which is part of the Lake Carey Gold Project in WA
  • The 4000-metre RC program will focus on six targets at the Devon prospect that were generated through a recent sub-audio magnetic survey
  • Specifically, drilling will aim to discover new mineralisation to grow Devon's resource base after an initial mineral resource was delivered in April
  • The program is expected to be completed by the end of the month and assay results are expected within four to six weeks that follow
  • Matsa ended the day trading 9.21 per cent higher at 8.3 cents

Matsa Resources (MAT) has begun a reverse circulation (RC) drilling program at the Devon prospect which is part of the Lake Carey Gold Project in WA.

The 4000-metre RC program will focus on six targets at the Devon prospect to test the mineralised structures interpreted from Matsa’s recently announced sub-audio magnetic (SAM) survey.

In March, the company announced the SAM survey identified 38 new gold targets across the Devon prospect and immediately prioritised three targets for drill testing.

Additional targets were defined by soil and rock chip geochemistry and geological mapping at the LIN1 and LIN2 areas within the prospect.

Overall, the drill program will aim to discover new mineralisation to grow Devon's resource base within the Lake Carey Gold Project.

This follows Matsa recently completing an initial mineral resource estimate for Devon which sits at 614,000 tonnes at 4.1g/t gold for 80,000 ounces.

Drilling is expected to be completed by the end of the month and assay results are expected within four to six weeks that follow.

Matsa ended the day trading 9.21 per cent higher at 8.3 cents.

MAT by the numbers
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