Matsa Resources: Significant New 7.5km Gold Anomaly Discovered at the Norseman Gold Project
(firmenpresse) - Matsa Resources: Significant New 7.5km Gold Anomaly
Discovered at the Norseman Gold Project
•Highly anomalous soil geochemical results with gold values up to 0.9g/t Au
•Strike extent of the anomaly totals 7.5km
•Highly prospective geological location extending south from the Abbotshall Mine
•Anomalous gold values are supported by coincident precious metal indicator elements such as As, Cu, Ag, Mo, Sb and Te
•Follow up sampling, mapping, trenching and drilling planned for late 2011-2012
Matsa Resources Limited, (ASX:MAT, the “Company” or “Matsa”) is pleased to announce the results of a soil geochemical sampling program recently carried out at its’ Norseman Gold Project.
During the second and third quarters of 2011 Matsa undertook a regional soil and auger sampling program within the Company’s Norseman Gold Project. A total of 1,076 samples were taken and assayed for a suite of 54 elements including gold (Table 2). A total of 705 sample results have been received so far.
Results have identified a significant anomaly extending at least 7.5km along strike south of the historic Abbotshall open pit. The results are based on a reconnaissance sampling pattern of around 200metres x 200metres. Infill sampling will be required to better define the anomaly for drilling.
The highest ranked regional soil anomaly can be divided up into 3 targets, (Figure 1);
•Target 1 – Gold, arsenic, copper, silver, molybdenum, antimony and tellurium.
•Target 2 – Gold, arsenic and copper,
•Target 3 – Gold only.
A number of lower ranked, gold anomalies were also identified by the survey (Figure 1).
The Abbotshall mine has an endowment of 42,000oz and is stratigraphically situated in an intensely sheared package of mixed mafic and felsic volcanic rocks termed the Abbotshall Beds. The Abbotshall deposit is a shear hosted deposit with the thickest and highest grade gold mineralisation associated with steeply plunging shoots within the shear zone. A total of 5,600t of ore (at) 8g/t was mined from Abbotshall prior to 1984. A further 136,000t (at) 2.5g/t was mined in 1997. The mineralisation at Abbotshall remains open at depth.
Targets 1, 2 and 3 are aligned along the same mapped shear zone and stratigraphy that hosts the Abbotshall deposit. Matsa is confident that the soil geochemical anomaly reflects additional shear hosted Abbotshall style gold mineralisation along this structure.
Previous exploration in the area has been ineffective. Air-core drilling over target number 3 is wide spaced and very shallow, only 10 – 12 metres deep and does not penetrate bedrock. There has been no effective previous drilling in the higher ranked target 2 and 3 areas. Accordingly Matsa considers this soil gold anomaly to be a significant new discovery given its proximity to the Mt Henry, Selene and North Scotia gold deposits. (Table 1)
Mr Paul Poli said “The timing of this geochemical discovery is exactly the tonic required to whet the appetite of the potential Chinese investors, who are currently undertaking a detailed project review. Discussions to date have been positive and if we are able to demonstrate the potential for further discoveries, it will make the project more attractive to them. This discovery demonstrates the regional prospectivity of the project area and the potential for further new discoveries to add to our existing resource base of 1.5Moz.”
Matsa Resources plans to follow up these highly positive results with infill sampling, geological mapping, trenching and drilling in the remainder of 2011 and into 2012, subject to environmental approvals.
To view the entire news including tables and figures please follow the link: http://www.irw-press.com/dokumente/Matsa_150911.pdf
For further Information please contact:
Paul PoliFrank Sibbel
Executive ChairmanExecutive Director
Phone+61 8 9230 3555
Fax+61 8 9227 0370
Emailreception(at)matsa.com.au
Webwww.matsa.com.au
'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'
Exploration results
The information in this report that relates to Exploration Results, is based on information compiled by David Fielding, who is a Fellow of the Australasian Institute of Mining and Metallurgy. David Fielding is a full time employee of Matsa Resources Limited. David Fielding has sufficient experience which is relevant to the style of mineralisation and the type of ore deposit under consideration and the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. David Fielding consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Mineral resources and reserves
The information in this report that relates to mineral resources and reserves, is based on information compiled by Richard Breyley, who is a member of the Australasian Institute of Mining and Metallurgy. Richard Breyley is a full time employee of Matsa Resources Limited. Richard Breyley has sufficient experience which is relevant to the style of mineralisation and the type of ore deposit under consideration and the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Richard Breyley consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
BACKGROUND
Matsa is an ASX listed exploration and development company based in Western Australia. The Corporate office is located in Perth with offices in Kalgoorlie and Bangkok, Thailand.
The Company aims to increase shareholder wealth through the discovery and development of mineral properties including gold iron ore and copper within Australia and South East Asia.
Matsa is committed to developing its Norseman Gold Project and associated magnetite by-product to generate cash flow for shareholder benefit.
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Datum: 15.09.2011 - 11:33 Uhr
Sprache: Deutsch
News-ID 64507
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