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Matsa Resources (ASX:MAT) identifies 38 new targets at Devon
Team photo. Source: Matsa Resources
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  • Matsa Resources (MAT) has completed soil sampling to define new gold targets at the Devon gold mine within its Lake Carey Gold Project in WA
  • The program extended south of recent sampling to include Hill East
  • Matsa collected 485 samples at 100-metre intervals along east-west lines
  • Sampling returned a peak value of 10.95 g/t gold
  • So far, the results indicate significant gold anomalies in the soils at Devon, highlighting the potential to extend the HE1 and HE2 mineral resources
  • Matsa has identified seven new geochemical targets, which it selected for detailed follow up geological mapping and sampling to define drill targets
  • Exploration drilling at select targets is planned in the coming week
  • Matsa Resources has spiked 6.76 per cent with shares trading at 7.9 cents

Matsa Resources (MAT) has completed soil sampling to define new gold targets at the Devon gold mine within its Lake Carey Gold Project in Western Australia.

The program extended south of recent sampling at Devon to include Hill East and an area covered by a sub-audio magnetic survey.

Matsa collected 485 samples at 100-metre intervals along east–west lines spaced 100 metres apart.

It says the samples, which were collected at a depth of five to 30 centimetres, are expected to more accurately define gold anomalies in soil than historical auger samples.

While a full evaluation of the results is pending, Matsa is convinced there are significant gold anomalies in the soils at Devon, highlighting the potential to extend the HE1 and HE2 mineral resources.

In fact, three samples from the program returned above one g/t gold, including a sample close to HE1, which returned 10.95 g/t gold.

Importantly, the results helped to identify seven new geochemical targets, which Matsa has selected for detailed follow up geological mapping and sampling to define drill targets.

In particular, new gold anomaly LIN7 supports planned drilling of the SAM38 target, which is an interpreted expansion of Matsa's HE5 mineral resource.

In the pipeline, MAT expects to commence exploration drilling at Devon's LIN1/2, HE1 and HE5/SAM38 targets within the coming week.

On the back of the announcement, Matsa Resources shares have spiked 6.76 per cent to trade at 7.9 cents each at 12:43 pm AEST.

MAT by the numbers
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