en.Wedoany.com Reported - Matsa Resources (ASX:MAT) has discovered multiple high-grade gold intervals in its initial diamond drilling program at the Fortitude North prospect within the Lake Carey Gold Project in Western Australia. The West Australian gold explorer and developer is currently undertaking an initial 10,000-meter drilling campaign, having completed seven holes totaling 2,521 meters.
Assay results from the first four holes have yielded significant results, including 15.2 meters at 2.93 grams per tonne gold (Au) from 298.8 meters, and 8.4 meters at 3.62 grams per tonne gold from 123.6 meters. Other key intervals include: 12.8 meters at 2.43 grams per tonne gold from 128.4 meters in hole 26FNDD013; and hole 26FNDD016 revealed multiple mineralized zones, including 6.9 meters at 3.08 grams per tonne gold from 106.5 meters, 3 meters at 5.26 grams per tonne gold from 124 meters, and 2.9 meters at 8.67 grams per tonne gold from 286.7 meters.
"So far, our drilling at Fortitude North continues to show multiple stacked, thick, high-grade gold mineralized zones," said Executive Chairman Paul Poli. He also noted that the Matsa board is firmly committed to expanding the Lake Carey gold resource, and this drilling at Fortitude North is part of that growth path.
The Fortitude North prospect lies within the Fortitude Shear Gold Corridor, a regionally significant structural zone hosting numerous gold deposits, including the 489,000-ounce Fortitude gold deposit along strike. Diamond drilling has intersected mineralization in multiple stacked veins over a strike length exceeding 1.7 kilometers. Mineralization is characterized by pronounced albite-sericite-silica alteration in the host mafic rock sequence, accompanied by pyrite and arsenopyrite. Gold grades typically reflect a "high-grade" core with intense alteration and quartz content, surrounded by a halo of weaker alteration and lower grades.
Matsa is currently operating one diamond drill rig from the shore and plans to convert to a lake-based rig shortly to continue the program. Previous exploration has traced mineralization along the Fortitude Shear Zone for over 13.5 kilometers, remaining open to the north. Prior drilling at Fortitude North returned intervals including 22 meters at 9.20 grams per tonne gold and 8.3 meters at 9.00 grams per tonne gold.
The company plans to use results from this program to inform a significantly expanded reverse circulation and diamond drilling campaign to test the potential of the currently defined 1.7-kilometer air-core gold anomaly. Matsa Resources is advancing the Lake Carey Gold Project and holds additional lithium and base metal exploration assets in Thailand.
