MATSA REVEALS HIGH-GRADE GOLD AT DEVON PIT GOLD MINE

Lake Carey Project Poised for Production with Encouraging Drill Results

Matsa Resources (ASX:MAT) has announced significant gold intercepts from 20 of 56 RC drill holes at the Devon Pit Gold Mine within the Lake Carey Gold Project. The high-grade results from the Main and West Lodes affirm the site’s potential and align with the company’s production plans.

Key Highlights from the Drilling:

  • Notable gold grades include 4.0m @ 11.79g/t Au and 2.0m @ 28.63g/t Au.
  • All major gold intercepts fall within the current optimized pit shell.
  • Ongoing progress on environmental permits and mining regulatory approvals.
  • Post the termination of the MMPSA, Matsa is focused on readying the project for production.

Matsa Executive Chairman Mr. Paul Poli reflected on the drill results: “These results continue to support our view that the Devon Pit Gold Mine is a valuable asset that Matsa plans to put into production once financing and processing arrangements have been made. Once we receive the final results from the drilling, Matsa will update the resource model and review the potential for a new, expanded pit optimization and mining study. We remain keen to get this project approved and into production. 70% of the drill holes have returned economic intercepts and with half of the drill intercepts returning +5 gram dirt, this open pit project is highly attractive. Our studies to date have demonstrated a potential mine that produces in excess of 250,000t @ over 4g/t which is impressive. We look forward to providing further updates on not only the Devon Pit Gold Mine, but Lake Carey in general, in the near future.”

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