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Matsa Resources Limited (MAT)
is a publicly listed company on the Australian Securities Exchange (ASX).
Company Announcements
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General Overview
About Matsa Resources
Matsa is an ASX listed gold and base metal explorer making the transition to gold producer following the exciting acquisition of the Fortitude / Lake Carey gold project.
The Fortitude acquisition is one of a pipeline of projects with diverse commodities in Australia and central Thailand. Matsa’s strong financial position will enable it to fund all exploration and development of the Fortitude Gold mine.
Matsa’s goal of becoming a producer of gold, is close with mining of the Lake Carey Gold project expected to commence early in 2017.
Matsa stands out among Australian resource juniors because of its sound financial position and superior diverse portfolio of projects located in the goldfields of Western Australia and central Thailand.
The Company aims not only to increase shareholder wealth through the discovery and development of mineral properties, but to do it in socially and environmentally responsible way, utilising world best practices. As such, Matsa Resources strongly believes that community support and environmental management is critical to our future and is a license to operate as a responsible corporate citizen.
Strategy
Matsa has developed the strategy of developing high quality mineral projects in two sovereign nations over a diverse range of minerals. This strategy is implemented to diversify sovereign risk in countries of sound political and sovereign diversity.
Gold, Nickel, Copper and Iron ore are targeted minerals not only because of their economic diversity but also for their counter cyclic values.
Their Projects are fortuitously well endowed with counter cyclical commodities in that their Mt Henry Joint Venture has gold with magnetite products. Their Thai projects are all in close proximity thus enjoying the benefits of a centralised management facility and their West Australian Symons Hill Nickel-Copper project is a high quality exploration asset which has the potential to add significant value to shareholders.
Projects
Lake Carey Gold Project
Recently acquired project includes the Fortitude gold deposit (385,300 oz, JORC 2012) 102km2 located in the prolific Laverton Tectonic Zone (LTZ) 25km SW of Sunrise Dam (AGA), 60km SW of Granny Smith (Goldfields) and 12km SW of the Red October (Saracen).
Symons Hill- Fraser Range
Tenement covers 96km2, 6kms SSW of Independence Group’s (ASX:IGO) Nova Nickel Mine.
Exploration to date; regional soil sampling, high resolution, aeromagnetics, gravity, ground electromagnetics, aircore, RC and diamond drilling.
>1% Ni in weathered olivine gabbro at SHG02, SHG03. Typical intercepts include:
- SHG03, 13m @ 1.52% Ni, 0.012% Cu, 0.035% Co (SHAC591)
- SHG02, 3m @ 0.98% Ni, 0.005% Cu and 0.12% Co from 21m (SHAC040)
RC drilling confirmed strongly enriched Ni values in fresh olivine-bearing gabbro which is interpreted to form part of a regionally extensive complexly folded stratabound metagabbro unit.
Thailand - Siam Copper Project
Matsa considers Thailand to be a very favourable country for mining investment due to its high geological prospectivity, strong legal framework and rule of law, quality of internal infrastructure and well qualified local workforce.
Matsa has recently been granted 37 Special Prospecting leases (SPL’s) covering 570m2. The tenements are located in the NNW trending Loei-Ko Chang volcanic arc which also hosts the Phu Kam copper deposit (Pan Australia Mining) and the Chatree Gold Mine (Kingsgate Resources).
The Siam Copper Project was initially targeted on Thailand Department of Mineral Resources regional stream sediment database. Matsa Resources has completed further geological mapping, stream sediment sampling, soil sampling and rock chip sampling. This work, which is ongoing has identified up to 20 copper exploration targets of which 2 are the most advanced, Siam 1 and Siam 2.
At Siam 1 and 2 field mapping has identified visible coper mineralisation in an area of ploughed fields. Individual assays grade up to 3.9% Cu. Copper occurs mainly as blebby disseminated native copper, chalcocite (Cu2S) and as secondary mineral malachite and azurite.
Currently Matsa has ongoing stream sediment and soil sampling programs in place with a view to complete IP surveys and commence diamond drilling in the next quarter.
Killaloe J.V
The Killaloe project comprising 94km2 is located 35km NE of Norseman in Western Australia.
Until recently, exploration activities by Matsa at Killaloe were primarily focused on the discovery of gold mineralisation as potential trucking feed for any future mill at the Mt Henry Gold Joint Venture project.
A review of past exploration at Killaloe has revealed significant untested potential for nickel sulphide mineralisation as well as gold. These opportunities are being tested systematically.
Phaisali Base Metals
Located in Nakorn Sawan Province 3 hours drive North of Bangkok Thailand.
Chang 1 Copper
Strong 1km x 1.8km copper anomaly was identified by auger soil sampling at Chang 1 with Cu values of up to 0.11% Cu.
Geochemical zoning evident with a central zone of highly anomalous Cu and supporting Ag and Ni values, surrounded by anomalous Pb, Zn etc. values on the periphery.
Association with large complex magnetic anomaly, scattered diorite rubble, supports the potential for porphyry or skarn related copper sulphide mineralisation.
Price History
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Upcoming Dividends
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The next upcoming dividend date has not yet been announced - Please watch this place for updated dividend information |
Historical Dividends
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Financial Reports
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Recommendation Statistics
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Past Broker Recommendations
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Videos
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Company Reports
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Website Links
Contact Info
Matsa Resources Limited
Suite 11
139 Newcastle Street
Perth,
WA
Australia, 6000
Phone:
+61 8 9230 3555
Fax:
+61 8 9227 0370
Email:
reception@matsa.com.au
Website:
http://www.matsa.com.au
Important Information
The General Overview, Services, Products and Projects information for this profile was last edited on 14 Feb 2017.