MATSA RESOURCES LIMITED — Capital/Financing Update 2017

Nov 30, 2017

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Matsa Resources Limited
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LIMITED ABN 48 106 732 487

ASX Announcement

1 December 2017

Excellent Drilling Results Define Gold Zone Red Dog Gold Project

Highlights

• Drilling at the Red Dog gold project confirms shallow and consistent mineralisation with strong potential for further mineralisation. The project lies only 25km west of Matsa’s Fortitude gold trial mine

• Mineralisation is flat lying and generally between 1m and 14m thick with an outstanding intercept received of:

• 6m at 155g/t Au from 6 metres

including 1m @ 921 g/t Au

CORPORATE SUMMARY

Executive Chairman

Paul Poli

Director

Frank Sibbel

Director & Company Secretary

Andrew Chapman

Shares on Issue

• Other significant assay results include:

146.41 million

• 11m at 2.59 g/t Au from 5m

• 14m at 1.97 g/t Au from 3m

• 6m at 4.57 g/t Au from 13m

• 8m at 3.23 g/t Au from 22m

• 8m at 3.11 g/t Au from 4m

Unlisted Options

9.925 million @ $0.25

Top 20 shareholders

Hold 54.62%

• 10m at 2.31 g/t Au from 8m

• 8m at 2.56 g/t Au from 11m

• The Red Dog gold project presents another potential opportunity for mining in the near term in close proximity to Matsa’s Lake Carey/Red October gold projects

Share Price on 30[th] November 2017

24 cents

Market Capitalisation

$35.14 million

• Resource estimate is underway. Flora, fauna and heritage surveys have already been completed.

• Matsa has completed the acquisition of 100% of the Red Dog project

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Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to advise that it has completed its initial RC drilling programme at the Red Dog gold project located 25km west of the Company’s Fortitude gold project where trial mining is underway ( Figure 1 ).

The drilling programme consisted of 103 RC holes on a 20m x 20m drill program aimed at testing the historical drilling data and evaluating the economic potential of the project.

The Red Dog gold project consists of three granted mining leases (ML’s): M39/38, M39/1099 and M39/1100 for a total area of 81.6 Ha that contain historical drilling results highlighting the potential for a near term, shallow mining operation that was confirmed by this drilling programme. The project is approximately 1km from the Red October haul road.

Assay results

The recent RC drilling has produced excellent results. Better assay results from Matsa’s drilling (0.5g/t Au lower cut-off) include:

• 6m at 155 g/t Au from 6m (17RDRC077) incl. 1m at 921 g/t Au from 7m

• 11m at 2.59 g/t Au from 5m (17RDRC073)

• 14m at 1.97 g/t Au from 3m (17RDRC082)

• 6m at 4.57 g/t Au from 13m (17RDRC029)

• 8m at 3.23 g/t Au from 22m (17RDRC087)

• 8m at 3.11 g/t Au from 4m (17RDRC032)

• 10m at 2.31 g/t Au from 8m (17RDRC081)

• 8m at 2.56 g/t Au from 11m (17RDRC072)

The results highlight a near surface, relatively flat lying and continuous zone of mineralisation 1m to 14m thick and typically from 3m to 10m below surface. Mineralisation remains open in several directions. Gold mineralisation is hosted within an altered basalt with associated silica, hematite and pyrite alteration ( Figure 2 and Figure 3 ). Appendix 2 lists all drill intercepts through the main zone of mineralisation.

Exercise of Option to Acquire Project

The Red Dog gold project was subject to an option agreement to acquire a 100% interest. Matsa exercised its option to acquire the project as follows:

1. MAT to acquire 100% of the Project for cash consideration of $125,000 (paid);

2. Upon commencement of mining, an agreed royalty is to be paid to the vendors:

3. (i) up to 10,000 oz gold - 2.25% gross smelter royalty;

4. (ii) 10,000 oz to 50,000 oz gold - 1.5% gross smelter royalty;

5. (iii) > 50,000 oz gold - 1% gross smelter royalty; and

6. (iv) 0.5% Net Smelter Royalty on all other minerals and elements other than gold.

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Next Steps

Matsa is now working to determine the economic potential of the Red Dog gold project and is determining a resource estimate. Flora, fauna and heritage surveys have already been completed. Matsa considers the Red Dog project has the potential to be a near term mining opportunity with Matsa’s Fortitude mine infrastructure only 25km to the east.

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Figure 1: Red Dog Location plan

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Figure 2: Plan view of Red Dog drilling results

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Figure 3: Cross Sections 10610mN and10510mN

For further information please contact:

Paul Poli Executive Chairman

Phone +61 8 9230 3555 Fax +61 8 9227 0370 Email reception@matsa.com.au Web www.matsa.com.au

Competent Person

The information in this report that relates to Exploration results, is based on information compiled by Mark Csar, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mark Csar is a full time employee of Matsa Resources Limited. Mark Csar 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 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mark Csar consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Appendix 1 - Matsa Resources Limited – Red Dog Project

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation Commentary
Sampling techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. RC drilling using cyclone split on 1m intervals. Samples typically 2- 3 kg and pulverized to 50g charge for FA-AAS. Historical: RAB and RC drilling sampled with drill chips. RAB sampled with 2 to 5m composites with 1m splits in areas of elevated results. RC drilling sampled at 1m intervals. Samples were sub-split for assay by Aqua Regia or Fire assay.  Measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). RC drilling using face sampling bit. Historical: Details of pre 2015 (Billiton/Newmont/SOG) drilling by RAB, RC and Diamond methods unknown. Post 2015 RAB drilling carried out with small scale rig using 60mm drill bit Post 2015 RC drilling carried out by 5 inch face sampling bit with KDA 250 RC Rig.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed. Recoveries visually assessed for weight consistency. Historical: No records of recovery noted is records. Shallow drilling is expected to have high recoverybased on nearbydrillingexperience.
	 Measures taken to maximise sample recovery and ensure representative nature of the samples. Geologist on rig whilst drilling. On-rig assessments and remedy, if required, completed at rig. Historical: No record noted.

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	Criteria	JORC Code explanation	JORC Code explanation	Commentary
			Whether a relationship exists between sample recovery and grade and	No relationship between recovery and grade noted in QA/QC review.
			whether sample bias may have occurred due to preferential loss/gain of	Historical: Not determined
			fine/coarse material.
	Logging		Whether core and chip samples have been geologically and geotechnically	Chips have been logged for, but not limited to qualities including lithology,
			logged to a level of detail to support appropriate Mineral Resource	hardness, oxidation and weathering. This detail is considered appropriate for
			estimation, mining studies and metallurgical studies.	ongoing studies. Logging in generally qualitative in nature. Holes have been chip
			Whether logging is qualitative or quantitative in nature. Core (or costean,	trayed for reference. All holes and intervals have been logged.
			channel, etc) photography.	Historical: A limited number of holes have qualitative geological logging. A
				selected number of samples have been petrographically described in detail.
			The total length and percentage of the relevant intersections logged.
	Sub-sampling		If core, whether cut or sawn and whether quarter, half or all core taken.	RC chips sub-sampled using cone splitter and sampled dry. Splitter regularly
	techniques and			checked for cleanliness and correct operation. Duplicates taken 1:20. QAQC
	sample preparation		If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	samples taken at 1:20. Sample weights of ~3kg documented are considered adequate. All samples were dry. Historical: NQ Diamond holes are RC pre-collared in the area of interest (top
			For all sample types, the nature, quality and appropriateness of the sample	50m). Data on subsampling methodology of holes drilled prior to 2015 is absent.
			preparation technique.	Some early historical drill programs report selective sampling, assumedly on
			Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples	visual veins. This may limit validity of some intersections. Since 2015, holes DDRC21 to 33 were spear sampled and DDRC34 to 57 were riffle split. Sample prep in Lab is standard for all assay procedures. Samples, where recorded, were
			Measures taken to ensure that the sampling is representative of the in situ	sent to industry labs. Anomalous composites repeated with individual 1m splits.
			material collected, including for instance results for field duplicate/second-	Unknown Sample weights of ~3kg documented are adequate for fine gold.
			half sampling
			Whether sample sizes are appropriate to the grain size of the material being
			sampled.
	Quality of		The nature, quality and appropriateness of the assaying and laboratory	Samples were dispatched for gold determination by Fire Assay with AAS finish,
	assay data and		procedures used and whether the technique is considered partial or total.	which are industry standard processes. Standards/blanks used for QAQC at 1:20
	laboratory			sampling frequency. No significant bias noted.
	tests			Historical: Assay accuracy determined by laboratory QACQ processes. Standards,
				blanks and duplicates are incorporated in the sample submissions to quantify
				any accuracy or precision issues. Historical: Samples were dispatched for low
				level gold determination by Fire Assay or Aqua Regia, which are industry
				standardprocesses. Assayaccuracydetermined bylaboratory QACQ process.
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Criteria	JORC Code explanation Commentary
	Drilling QAQC not recorded. Lab reports show standard industry QA QC procedures in place.
	 For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) andprecision have been established.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel. All results were checked by senior staff. Several holes were twinned adjacent to historical RC holes. Data logged electronically on site with automated validation procedures and data entry checks. Data transferred to company database on completion of program. No adjustments to assay data made. Historical: Composites validated by individual 1m splits. No twinned holes carried out. Historical data transferred from publically available reports. Post 2015 data available as hardcopy reports. No amendments to assay data have been made.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Holes marked out prior to drilling using decimetre accuracy DGPS (+/- 0.3m). Holes not surveyed post drilling. Historical hole collars surveyed using decimetre accuracy DGPS where collars reliably located. Red Dog is located in GDA94 UTM co-ordinate system Zone 51. A local 2 point grid transformation is used: Local MGA51 East Point 1 10539.3 438407.6 North Point 1 11020.5 6749871.0 East Point 2 11037.4 439039.9 North Point 2 10384.7 6749387.8 Topographic control via decimetre accuracy DGPS is considered suitable for level of control required.  Specification of the grid system used.  Quality and adequacy of topographic control.
Data spacing and distribution	 Data spacing for reporting of Exploration Results. Data spacing over main mineralised area is 20m x 20m, surrounded by 40 m x 40m away from mineralised area. Some historical RC drill spacing has been brought down to 10m x 10m. Samples have been composited for reporting results as appropriate using 0.5g/t Au lower cut. RC sampling was carried on a 1m basis.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary
		Whether the data spacing and distribution is sufficient to establish the
		degree of geological and grade continuity appropriate for the Mineral
		Resource and Ore Reserve estimation procedure(s) and classifications
		applied.
		Whether sample compositing has been applied.
Orientation of		Whether the orientation of sampling achieves unbiased sampling of possible	RC Drilling was vertical and tests a relatively flat lying basalt/andesite unit. The
data in relation		structures and the extent to which this is known, considering the deposit	minimum 1m sampling interval may have diluted parts of the mineralised unit to
to geological		type.	this minimum sampling width in parts and on edges of the unit. Historical drilling
structure			data was also to a minimum 1m sampling interval. No bias, apart from that
			mentioned herein is thought to have occurred due to orientation of drilling
			direction.
		If the relationship between the drilling orientation and the orientation of key
		mineralised structures is considered to have introduced a sampling bias, this
		should be assessed and reported if material.
Sample		The measures taken to ensure sample security.	Samples transported to assay lab were collected from Fortitude site by
security			laboratory staff. Samples numbered and recorded. Historical: Unknown-Post
			2015 samples are either on site or relocated to another accessible area.
Audits or		The results of any audits or reviews of sampling techniques and data.	No audit carried out.
reviews

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

	Criteria	JORC Code explanation	Commentary
	Mineral	 Type, reference name/number, location and ownership including	Tenements M39/38, M39/1009 and M39/1100 are live and held by M and R
	tenement and	agreements or material issues with third parties such as joint ventures,	Hodges. The tenements are operated by Matsa Resources under an option to
	land tenure	partnerships, overriding royalties, native title interests, historical sites,	purchase agreement with the tenement holder. There are no known
	status	wilderness or national park and environmental settings.	impediments to operating in the area.
		 The security of the tenure held at the time of reporting along with any
		known impediments to obtaining a license to operate in the area.
	Exploration done	 Acknowledgment and appraisal of exploration by other parties.	Previous explorers include CSR, Pennzoil-Vam JV, Shell Company Australia,
	by other parties		Billiton Australia (1985 – 1990), Billiton-Newmont Australia JV (1990 – 1992), M
			Hodges – Welcome Stranger Mining (1993), M. Hodges (1994 – 1998), Goldfields
			Kalgoorlie (1999), Sons of Gwalia (2000 – 2003), Wilson (2004-2011) Saracen
			(2012- 2015),M. Hodges(2015 – 2017)
	Geology	 Deposit type, geological setting and style of mineralisation.	The deposit type being sought at Red Dog are orogenic syntectonic gold
			mineralisation. Gold is interpreted to be associated with major NW striking shear
			zones and flat lyinglocalised shearingand alteration.
	Drill hole	 A summary of all information material to the understanding of the	See appendix for listing of drill holes.
	Information	exploration results including a tabulation of the following information for
		all material drill holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea level in metres) of
		the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
		 If the exclusion of this information is justified on the basis that the
		information is not material and this exclusion does not detract from the
		understanding of the report, the Competent Person should clearly explain
		why this is the case.
	Data	 In reporting Exploration Results, weighting averaging techniques,	Intercepts are weight averaged with a lower cut of 0.5g/Au and no upper cut.
	aggregation	maximum and/or minimum grade truncations (eg cutting of high grades)
	methods	and cut-off grades are usually material and should be stated.
		 Where aggregate intercepts incorporate short lengths of high grade
		results and longer lengths of lowgrade results, theprocedure usedfor such
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	Criteria	JORC Code explanation	Commentary
		aggregation should be stated and some typical examples of such
		aggregations should be shown in detail.
		 The assumptions used for any reporting of metal equivalent values should
		be clearly stated.
	Relationship	 These relationships are particularly important in the reporting of	All intercepts quoted relate to downhole depth. The mineralised unit is flat to
	between	Exploration Results.	gently dipping. Intercepts in are expressed in downhole metres.
	mineralisation	 If the geometry of the mineralisation with respect to the drill hole angle is
	widths and	known, its nature should be reported.
	intercept lengths	 If it is not known and only the down hole lengths are reported, there should
		be a clear statement to this effect (eg ‘down hole length, true width not
		_known’). _
	Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts	Diagrams have been included in the text.
		should be included for any significant discovery being reported These
		should include, but not be limited to a plan view of drill hole collar locations
		and appropriate sectional views.
	Balanced	 Where comprehensive reporting of all Exploration Results is not	Refer Appendix 2
	reporting	practicable, representative reporting of both low and high grades and/or
		widths should be practiced to avoid misleading reporting of Exploration
		Results.
	Other	 Other exploration data, if meaningful and material, should be reported	Surface geology interpretation and geophysics exists over the area of interest.
	substantive	including (but not limited to): geological observations; geophysical survey
	exploration data	results; geochemical survey results; bulk samples – size and method of
		treatment; metallurgical test results; bulk density, groundwater,
		geotechnical and rock characteristics; potential deleterious or
		contaminating substances.
	Further work	 The nature and scale of planned further work (eg tests for lateral	Forward activities include resource estimation and potential for mining
		extensions or depth extensions or large-scale step-out drilling).	evaluation as well as further drilling.
		 Diagrams clearly highlighting the areas of possible extensions, including
		the main geological interpretations and future drilling areas, provided this
		information is not commercially sensitive.
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Appendix 2 - Matsa Resources Limited – Red Dog Project

Drill hole collar information and intervals > 0.5g/t Au (summary)

Hole_ID	East_MGA	North_MGA	RL	m Depth	mFrom	mTo	mThick	Au_ppm
17RDRC001	438513	6749623	386	20
17RDRC002	438552	6749633	386	20
17RDRC003	438590	6749643	386	20
17RDRC004	438523	6749585	386	20
17RDRC005	438561	6749595	386	20
17RDRC006	438599	6749605	387	20
17RDRC007	438638	6749615	387	20	16	17	1	0.66
17RDRC008	438676	6749624	387	20
17RDRC009	438533	6749547	386	20
17RDRC010	438571	6749557	387	20
17RDRC011	438609	6749567	388	20	13	14	1	0.87
17RDRC012	438648	6749577	390	20	5	6	1	1.76
17RDRC013	438686	6749586	388	20	16	18	2	2.76
17RDRC014	438576	6749538	387	20	19	20	1	0.90
17RDRC015	438614	6749547	389	20	8	15	7	1.69
17RDRC016	438633	6749552	389	20	12	14	2	1.09
17RDRC017	438653	6749557	390	20	7	8	1	1.01
17RDRC018	438672	6749562	390	16	3	4	1	0.76
17RDRC019	438691	6749567	389	16
17RDRC020	438581	6749519	387	20
17RDRC021	438600	6749524	388	20	15	17	2	1.87
17RDRC022	438619	6749528	389	20	15	16	1	1.23
17RDRC023	438638	6749533	389	20	8	12	4	2.32
17RDRC024	438657	6749538	389	20	5	10	5	1.27
17RDRC025	438677	6749543	389	16	6	12	6	2.01
17RDRC026	438696	6749548	388	16	12	14	2	3.33
17RDRC027	438753	6749563	386	20
17RDRC028	438586	6749499	387	20
17RDRC029	438605	6749504	387	20	13	19	6	4.57
17RDRC030	438624	6749509	388	20	13	16	3	1.44
17RDRC031	438643	6749514	388	16	7	12	5	3.15
17RDRC032	438662	6749519	388	16	4	12	8	3.11
17RDRC033	438682	6749524	388	16	4	7	3	3.93
17RDRC034	438701	6749529	388	16	6	11	5	3.34
17RDRC035	438591	6749480	386	16	12	14	2	3.72
17RDRC036	438610	6749485	387	16	11	16	5	3.14
17RDRC037	438629	6749490	387	16	12	14	2	1.94
17RDRC038	438648	6749495	388	16	8	10	2	5.33
17RDRC039	438667	6749500	387	16	5	6	1	5.47
17RDRC040	438686	6749505	387	16	4	6	2	1.79
17RDRC041	438706	6749510	386	16	6	7	1	2.41

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17RDRC042	438725	6749515	386	16	10	12	2	2.83
17RDRC043	438763	6749525	385	20	17	20	3	1.21
17RDRC044	438596	6749461	386	16	10	12	2	2.98
17RDRC045	438615	6749466	386	16	11	16	5	3.79
17RDRC046	438634	6749471	386	16	9	13	4	3.68
17RDRC047	438653	6749476	386	16	5	10	5	1.53
17RDRC048	438672	6749481	386	16	3	6	3	5.43
17RDRC049	438691	6749486	386	16	3	6	3	3.45
17RDRC050	438710	6749491	385	16	7	9	2	2.50
17RDRC051	438730	6749496	385	16	11	14	3	1.32
17RDRC052	438563	6749432	385	20
17RDRC053	438601	6749442	386	16	5	6	1	1.40
17RDRC054	438620	6749447	386	16	13	15	2	1.63
17RDRC055	438639	6749452	386	16	9	11	2	3.48
17RDRC056	438658	6749457	386	16	7	8	1	5.11
17RDRC057	438677	6749462	385	16	4	7	3	2.22
17RDRC058	438696	6749467	385	16	6	8	2	4.26
17RDRC059	438715	6749472	385	16	8	12	4	1.11
17RDRC060	438734	6749477	385	16	14	15	1	2.76
17RDRC061	438773	6749487	385	20	17	18	1	0.78
17RDRC062	438606	6749423	386	20	12	13	1	0.75
17RDRC063	438625	6749428	386	20	6	9	3	2.72
17RDRC064	438644	6749433	385	20	6	11	5	2.90
17RDRC065	438663	6749438	385	16	7	9	2	2.75
17RDRC066	438682	6749443	385	16	2	6	4	3.11
17RDRC067	438701	6749448	385	16	4	6	2	5.84
17RDRC068	438720	6749453	385	20	10	12	2	3.75
17RDRC069	438739	6749458	385	20	14	19	5	2.30
17RDRC070	438573	6749394	384	20
17RDRC071	438611	6749404	385	20	10	11	1	0.50
17RDRC072	438630	6749409	385	20	11	19	8	2.56
17RDRC073	438649	6749414	385	20	5	16	11	2.59
17RDRC074	438668	6749419	385	20	15	16	1	0.58
17RDRC075	438687	6749424	385	12	2	5	3	0.92
17RDRC076	438706	6749429	385	12	4	5	1	1.44
17RDRC077	438725	6749434	385	12	6	12	6	155.11
17RDRC078	438744	6749439	384	12
17RDRC079	438783	6749449	385	20
17RDRC080	438635	6749390	384	20	0	2	2	1.21
17RDRC081	438654	6749395	384	20	8	18	10	2.31
17RDRC082	438673	6749400	384	20	3	17	14	1.97
17RDRC083	438692	6749405	384	20	6	12	6	1.83
17RDRC084	438711	6749410	384	12	4	8	4	1.92
17RDRC085	438730	6749415	384	12
17RDRC086	438749	6749420	384	15	11	14	3	1.18
17RDRC087	438640	6749371	384	36	22	30	8	3.23

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Matsa Resources Limited
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17RDRC088	438659	6749376	384	36	20	27	7	1.37
17RDRC089	438678	6749381	384	36	13	20	7	1.27
17RDRC090	438697	6749386	384	36	10	19	9	0.98
17RDRC091	438716	6749391	384	36	8	13	5	2.69
17RDRC092	438735	6749396	384	36	15	17	2	3.43
17RDRC093	438754	6749401	384	36	19	21	2	0.72
17RDRC094	438645	6749352	384	36	33	34	1	3.10
17RDRC095	438664	6749357	384	36	22	24	2	4.48
17RDRC096	438683	6749362	384	36	25	27	2	1.96
17RDRC097	438702	6749367	384	36	20	24	4	2.35
17RDRC098	438721	6749372	384	36	4	6	2	0.77
17RDRC099	438740	6749376	384	36	14	23	9	0.87
17RDRC100	438669	6749337	384	36	30	32	2	1.75
17RDRC101	438707	6749348	384	36
17RDRC102	438745	6749358	384	36	22	23	1	1.22
17RDRC103	438751	6749258	383	60	28	29	1	2.46

All holes are vertical

Statistics	Au ppm
min	-0.01
max	921
99%%	5.8
98%%	4.4
95%%	2.4
average >0.5g/t Au	5.1
average >0.5g/t Au topcut to 99%%	2.2

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