HIGH-GRADE GOLD HITS CONTINUE AT FORTITUDE NORTH

Diamond drilling confirms multiple stacked gold lodes at Lake Carey as exploration expands along the Fortitude Shear corridor.

Matsa Resources Limited (ASX:MAT) has reported multiple zones of high-grade gold from the first diamond drillholes completed at the Fortitude North prospect within its Lake Carey Gold Project in Western Australia.

The initial drilling has intersected significant gold mineralisation across multiple stacked lodes, with standout results including:

2.9m at 8.67g/t gold from 286.7m (26FNDD016)
3.0m at 5.26g/t gold from 124m (26FNDD016)
8.4m at 3.62g/t gold from 123.6m (26FNDD015)
6.9m at 3.08g/t gold from 106.5m (26FNDD016)
15.2m at 2.93g/t gold from 298.8m (26FNDD016)

Additional significant intersections included 12.8m at 2.43g/t gold from 128.4m (26FNDD013) and 5.0m at 2.95g/t gold from 185.5m (26FNDD014).

The company said the diamond drilling program is designed to provide structural and lithological information to better understand the gold mineralisation at Fortitude North, which lies immediately along strike from the 489,000-ounce Fortitude Gold Deposit.

Mineralisation has now been intersected across multiple stacked zones over a strike extent exceeding 1.7 kilometres. Fortitude North forms part of a broader gold system that has been defined over more than 13.5 kilometres and remains open to the north.

Matsa said the latest results support the project’s exploration potential as it develops an updated project-wide strategy aimed at systematically testing the broader Lake Carey Gold Project.

Executive Chairman, Paul Poli said

This is an exciting start to the new program at the Lake Carey Gold Project. We continue to see multiple stacked, thick high-grade gold zones at Fortitude North in drilling to date. We currently have a diamond drill rig operating from the shore and will change to a lake based drill rig very shortly.

The Matsa Board is resolute in building its Lake Carey gold Resources and this drilling at Fortitude North is a part of that growth path. On the strength of these and prior results, it’s clear that Lake Carey represents a regionally significant exploration project with enormous upside. We are confident that as we further test our impressive pipeline of targets that we will begin to unlock the true value of Lake Carey for Matsa shareholders. It’s a great time for Matsa shareholders and I look forward to keeping them updated as the program advances.