Gold: Matsa goes on a high-grade run at its Lake Carey project
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Matsa Resources (ASX:MAT) has extended primary gold mineralisation at its Lake Carey gold project in Western Australia’s northern Goldfields region.
Assays from two of the seven diamond holes drilled at the Fortitude North target returned a top intercept of 4m at 13.63 grams per tonne (g/t) gold from 79m including a 1m intersection grading 42.9g/t gold from 82m.
Results above 5g/t gold are generally considered to be high-grade.
The company noted that all seven holes had intersected similar distinctive alteration and veining, which appears to be a feature of this mineralised zone and that the program has only tested half of the 1,500m basement gold anomaly.
Assays are pending for the remaining five holes.
Further drilling is planned over the remaining strike extent of the anomaly and to test its resource potential.
Meanwhile, Horizon Minerals (ASX:HRZ) has uncovered additional data indicating that its Rose Hill project about 45km from its proposed Boorara mill in Kalgoorlie has further open pit and underground potential.
The historical data included intercepts of 17m at 3.08g/t gold from surface, 15m at 3.46g/t from 22m and 10m at 6.28g/t from 28m that support open pit mining.
Meanwhile, the intercepts that indicate underground mining is a possibility at Rose Hill include 20m at 8.94g/t gold from 77m and 7.5m at 5.4g/t gold from 242.3m.
Horizon says the data will be incorporated into an updated geological model with a new open pit and underground resource estimate expected in the June 2020 quarter.
The Rose Hill resource currently stands at 95,200oz.
Rose Hill will also be considered along with the Binduli, Teal and the baseload Boorara deposits as core advanced development projects for assessment as part of the feasibility study due in December 2020.