AI assistant
MATSA RESOURCES LIMITED — Capital/Financing Update 2020
Apr 27, 2020
65296_rns_2020-04-27_772fc4ed-a582-4a01-a2ea-fd7e66e286df.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [595 x 56] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
==> picture [132 x 117] intentionally omitted <==
LIMITED ABN 48 106 732 487
ASX Announcement
28[th] April 2020
Further High Grade Gold near Devon
Hill East - Lake Carey Gold Project
Highlights
-
Drilling carried out at Hill East, at 6 gold targets has highlighted potential for near-term mining of shallow gold mineralisation
-
Four of the Hill East, targets namely HE 1 – HE 4 are located within a well defined gold geochemical anomaly with potential for significant gold mineralisation at depth
-
RC Drilling has returned significant gold intercepts from 5 of the 6 targets tested including:
-
HE 4 5m @ 4.01 g/t Au from 6m 9m @ 3.04 g/t Au from surface 12m @ 1.96 g/t Au from 2m 6m @ 3.43 g/t Au from 15m 3m @ 6.82 g/t Au from 15m
-
HE 2 4m @ 3.29 g/t Au from 4m 7m @ 1.53 g/t Au from 20m
-
HE 1 27m @ 2.04 g/t Au from 2m 3m @ 2.23 g/t Au from 28m
-
HE 5 4m @ 6.3 g/t Au from 13m 13m @ 1.86 g/t Au from surface
CORPORATE SUMMARY
Executive Chairman
Paul Poli
Director
Frank Sibbel
Director & Company Secretary
Andrew Chapman
Shares on Issue
226.92 million
Unlisted Options
~26.35 million @ $0.17 - $0.25
Top 20 shareholders
Hold 52.85%
Share Price on 27[th] April 2020
12.5 cents
Market Capitalisation
$28.36 million
-
These results being of shallow depth strongly support the potential for near-term development opportunity close to Matsa’s Red October and Devon gold mines
-
Ground geophysical surveys and further drilling are planned to evaluate both the development opportunity and the potential for mineralisation at depth
Head Office: Suite 11, 139 Newcastle Street, Perth Western Australia 6000 Tel : +61 8 9230 3555 Fax: +61 8 9227 0370 Bangkok Office: Unit 1801, Pacific Place 2, 142 Sukhumvit Road, Klongtoey, Bangkok 10110 Tel : +66 0 2653 0258 Fax : +66 0 2653 0258 [email protected] www.matsa.com.au
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to announce results from its February 2020 RC drilling at Hill East, which is located within 2km of Matsa’s Devon gold mine and 10km SSE of Matsa’s Red October gold mine (Figure 1).
Significant New Drilling Results
Significant near-surface gold intercepts were returned in 5 of the 6 targets and include the following:
| Target HE4 | 5m @ 4.01 g/t Aufrom 6m | (20HERC001) |
|---|---|---|
| 9m @ 3.04 g/t Aufrom 0m | (20HERC002) | |
| 12m @ 1.96 g/t Aufrom 2m | (20HERC003) | |
| 6m @ 3.43 g/t Aufrom 15m | (20HERC005) | |
| 2m @ 7.14 g/t Aufrom 7m | (20HERC007) | |
| 3m @ 6.82 g/t Aufrom 15m | (20HERC007) | |
| 1m @ 13.3 g/t Aufrom 21m | (20HERC008) | |
| Target HE2 | 4m @ 3.29 g/t Aufrom 4m | (20HERC027) |
| 7m @ 1.53 g/t Aufrom 20m | (20HERC028) | |
| Target HE1 | 27m @ 2.04 g/t Aufrom 2m | (20HERC032) |
| 3m @ 2.23 g/t Aufrom 28m | (20HERC033) | |
| Target HE3 | 2m @ 2.68 g/t Aufrom 0m | (20HERC015) |
| 1m @ 4.06 g/t Aufrom 39m | (20HERC018) | |
| 6m @ 1.33 g/t Aufrom 0m | (20HERC026) | |
| Target HE5 | 4m @ 6.3 g/t Aufrom 13m | (20LBRC003) |
| 13m @ 1.86 g/t Aufrom 0m | (20LBRC004) |
==> picture [460 x 326] intentionally omitted <==
Figure 1: Hill East Geology and Drill Hole Summary
Page 2
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
Hill East is located 2km SE of the Devon gold mine, 6km west of Fortitude gold mine, 9km SW of Fortitude North and 10km S of Red October gold mine which emphasises the significant number of nearby gold deposits at Matsa’s Lake Carey project.
Results from this drilling programme provide strong encouragement, both to continue to evaluate near–term development potential of shallow gold mineralisation, as well as to continue exploration for associated deeper gold mineralisation. These targets are well located for consideration as potential satellite operations, which could take advantage of Matsa’s existing Red October infrastructure and ore treatment options.
Each of the exploration targets at Hill East, are typically ~200m long and comparatively close spaced (20 - 30m hole spacing’s). RC drilling was carried out with the objective of determining continuity and extents of shallow mineralisation outlined by previous drilling and which are intermittently exposed in historic workings.
It is noteworthy that the four eastern targets tested, namely HE 1 – HE 4 are located within a well defined auger soil gold anomaly (Figure 1) with maximum values in soil of up to 0.5 g/t Au (Geochemistry sourced from previous exploration as described in Appendix 1).
Gold Mineralisation at Hill East
The Hill East group of exploration targets are a subset of the extensive historic Linden gold workings and include small scale historic workings which have been the focus of mostly shallow drilling by previous explorers. The Hill East targets are located 2km south of Devon and 10km south of Red October. Gold mineralisation is associated with auriferous quartz veins in a background of complexly deformed basalts, dolerites, ultramafics and minor sediments, which have been extensively intruded by felsic porphyry sills and dykes. Basement rocks at Hill East are variably weathered with a thin veneer of unconsolidated, mostly residual cover.
The four eastern targets (HE 1 - HE 4), are the focus of a very strong NS oriented 1.5km long gold geochemical anomaly (Figure 1). Further exploration including ground geophysical surveys is planned to explore this target for a much larger, deeper body of gold mineralisation associated with the small near surface deposits currently under investigation (Figure 2).
Previous exploration at Hill East includes aircore, RC and diamond drilling with most of the work carried out by Haoma Northwest during the 1980’s and more recently by Anova Metals Ltd (formerly Exterra Resources Ltd) prior to Matsa’s acquisition of the Linden project in 2019. Salient aspects of previous exploration are provided in Appendix 1, while historic intercepts >0.5 g/t Au are listed in Appendix 4. Previous drill collar locations are summarised in Figure 1 and referenced in Figures 2 - 5.
HE 4
Matsa believes this target to be the most interesting of the targets drilled, comprises shallow gold mineralisation associated with an E - W striking set of quartz veins in deeply weathered basalt as defined by shallow historic workings with only very limited previous drilling. Previous results included a number of significant intercepts including 10m @ 2.23 g/t Au from 20 metres in RC drill hole HLP020.
A total of 10 drill holes for 388m were completed at approximately 20 metre centres over approximately 160m of strike to test continuity of shallow mineralisation and to rank the potential for near-term development (Figure 1, Figure 2).
Drilling achieved numerous highly significant gold intercepts including 9m @ 3.04 g/t Au from surface (20HERC02) and has demonstrated good continuity of mineralisation at shallow depth. These excellent results confirm this target as a potential near term development opportunity.
Page 3
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
==> picture [376 x 358] intentionally omitted <==
Figure 2: HE 4 Summary Cross Section (New drilling bold, intercepts in pink)
HE 2
A total of 4 drill holes were completed for 154m at this prospect which is located approximately 150m west of HE 1 (Figure 2). Gold mineralisation is associated with sheeted quartz veins in deeply weathered mafic volcanics, with veins oriented approximately E - W. As with HE 1, drilling was carried out to validate intercepts in previous drilling which include 5m @ 3.37 g/t Au from 33 metres in RC drill hole EXAC100.
Recent drilling has identified significant gold mineralisation at shallow depth as shown in Figure 5, including 7m @ 1.53 g/t Au from 2m in 20HERC026. These results validate previous drilling and further drilling is planned.
Page 4
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
==> picture [381 x 364] intentionally omitted <==
Figure 3: HE 2, Summary Cross Section (New drilling bold, intercepts in pink)
HE 1
Gold mineralisation is associated with a complex irregular stockwork of auriferous quartz veins with individual veins up to ~2m thick in weathered basalt and felsic porphyry. Previous drilling intersected broad intercepts of gold mineralisation at shallow depth with minor historic workings over a strike extent of ~180m. Previous intercepts include 16m @ 4.78 g/t Au from 4 metres in RC drill hole HLP33.
A total of 3 drill holes were completed for a total of 172m, with the objective of validating the results reported from previous drilling and to rank this target as a small near-term development opportunity.
Drilling has emphatically confirmed the presence of a significant zone of gold mineralisation with broad supergene intercepts at shallow depth as shown in Figure 4, including 27m @ 2.04 g/t Au from a depth of 2m in drill hole 20HERC032.
Page 5
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
==> picture [359 x 343] intentionally omitted <==
Figure 4: HE 1, Summary Cross Section (New drilling bold, intercepts in pink)
HE 3
Gold mineralisation was outlined by previous drilling over an E - W strike extent of >200m in an area of minimal outcrop. Intercepts in previous drilling include 3m @ 4.93 g/t Au from 40 metres in RC drill hole SLRC042. Gold mineralisation is associated with anastomosing quartz veins in deeply weathered mafic volcanics. A total of 16 close spaced RC drill holes for 572m of drilling were completed over a strike extent of 140m. Drilling was designed to test continuity of shallow gold mineralisation and to rank this target as a near term development opportunity. While the recent drilling returned a number of significant intercepts at shallow depth including 6m @ 1.33 g/t Au from surface (20HERC026), results generally downgraded this target for near-term development.
HE 5
HE 5 is located ~1km WSW of HE 1, in an area of outcropping basalt and porphyry (Figure 2). Gold mineralisation is associated with a sub-vertical EW trending quartz vein set with a number of small historic workings. Veins are hosted in moderately weathered to fresh mafic volcanics and felsic porphyry dykes, with gold mineralisation intersected by previous drilling over a strike extent of ~120m, with a number of significant intercepts including 4m @ 3.79 g/t Au from 9 metres in aircore drill hole EXAC080.
Recent drilling comprised a small programme of 4 shallow drill holes for a total of 84m. Significant gold mineralisation was intersected at shallow depth in two of the 4 holes including 4m @ 6.3 g/t Au from 13m. A summary cross section is shown in Figure 6. Drilling results have validated earlier drilling and it is planned to carry out further drilling to test potential for near term development.
Page 6
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
==> picture [309 x 294] intentionally omitted <==
Figure 5: HE 5 Summary Cross Section (New drilling bold, intercepts in pink)
HE 6
This target is located approximately 600m west HE 2 and comprises gold mineralisation associated with a NE - SW trending of steeply dipping weakly developed quartz/carbonate veins in basalt. Very shallow historic workings and very limited previous drilling have indicated potential for shallow gold mineralisation. Two drill holes were completed for 120m. No significant mineralisation was intersected and this target has been downgraded.
RC Drilling Programme February 2020
Drill hole setup, logging, sampling and assay protocols are described in Appendix 1. Salient aspects of past drilling at Hill East are also summarised in Appendix 1, with key intersections listed in Appendix 4.
Assay results from the February RC drilling programme all relate to 1m split samples. Drill collar setup information is listed in Appendix 2 and assay intercepts >0.5g/t Au are listed in Appendix 3.
First pass gold assays were carried out on 3m composite samples and subsequently individual 1m split samples through all significant composite intervals with >0.1 g/t Au , were assayed and form the basis for this report.
Next Steps
Ground geophysical surveys are planned to cover the 1.8km long geochemical target which encloses the HE 1 – HE 4 targets as a first step in developing drill targets for gold mineralisation at depth. This target remains untested by the predominantly shallow drilling carried out to date.
Additional RC drilling is planned to evaluate potential for near surface gold mineralisation amenable to near term development.
A Mining Lease application will be submitted over the tenement to provide for later mining access.
Page 7
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
Background: Matsa’s Lake Carey Gold Project
Matsa holds a significant ground position of 563km[2] at Lake Carey which is highly prospective for new gold discoveries. The Company is committed to becoming a mid-tier gold mining company through its production at the Red October underground gold mine and with the near-term commencement of Stage 2 open-pit gold mining at Fortitude gold mine.
Matsa also sees substantial opportunities for further discoveries in favourable structural and stratigraphic settings within the Lake Carey Project area which remain relatively under-explored.
Matsa’s discovery at Fortitude North and earlier discoveries along the Bindah Fault as well as production history at Red October and Devon, provide strong support for Matsa’s belief that there are significant areas which remain under-explored since the discovery of Sunrise Dam in 1988.
==> picture [360 x 510] intentionally omitted <==
Figure 6: Lake Carey Project
Page 8
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
This ASX report is authorised for release by the Board of Matsa Resources Limited.
For further information please contact:
Paul Poli
Executive Chairman Phone +61 8 9230 3555 Fax +61 8 9227 0370 Email [email protected] Web www.matsa.com.au
Competent Person
The information in this report that relates to Exploration results, is based on information compiled by David Fielding who is a Fellow of the Australasian Institute of Mining and Metallurgy. David Fielding is a full time employee of Matsa Resources Limited. David Fielding 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’. David Fielding consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Page 9
==> picture [633 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
Appendix 1 - Matsa Resources Limited – Hill East Drilling
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| Sampling | Nature and quality of sampling (eg cut channels, random chips, or specific | RC drill cuttings sampled at 1m intervals through cone splitter into numbered | |
| techniques | specialised industry standard measurement tools appropriate to the | bag. Bulk residues stacked on the ground with one metre split sample on top. | |
| minerals under investigation, such as down hole gamma sondes, or | Composites Samples ~3kg in weight representing 3m downhole intervals were | ||
| handheld XRF instruments, etc.). These examples should not be taken as | hand scooped from bulk residue submitted for gold-only assay. | ||
| limiting the broad meaning of sampling. | |||
| Measures taken to ensure sample representivity and the appropriate | Composite samples are poorer quality samples than the cone split 1m samples, | ||
| calibration of any measurement tools or systems used. | but are used to identify mineralised intervals. Consequently, 1m cone splits | ||
| from selected composite intervals (usually >0.1 g/t Au) were submitted for | |||
| assay and form the basis for the results in this announcement. Where several | |||
| composite samples return >0.1 g/t, any intermediate composited intervals | |||
| which did not assay >0.1 g/t Au within the “run” are also selected for assay of | |||
| 1m splits. Fire Assay AAS finish (ALS code AuAA25). | |||
| Aspects of the determination of mineralisation that are Material to the | Detection limit 0.01ppm Au. No special measures were taken to account for | ||
| Public Report. In cases where ‘industry standard’ work has been done this | coarse gold. | ||
| 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 | Historic drilling is reported to be largely 2m samples with selected 1m intervals | ||
| fire assay’). In other cases more explanation may be required, such as where | all data sourced from reports filed under DMIRS WAMEX report system. | ||
| there is coarse gold that has inherent sampling problems. Unusual | |||
| commodities or mineralisation types (eg submarine nodules) may warrant | |||
| disclosure of detailed information. | |||
| Drilling | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, | Drilling was carried out using a Moorooka (rubber track mounted) RC rig. | |
| techniques | auger, Bangka, sonic, etc.) and details (eg core diameter, triple or standard | Drilling employed a face sampling RC system with sampling carried out through | |
| tube, depth of diamond tails, face-sampling bit or other type, whether core | a cyclone and cone splitter which was cleaned regularly. Drilling made use of | ||
| is oriented and if so, by what method, etc.). | an air booster when required. | ||
| Historic drilling comprised RAB, AC, RC and Diamond drilling. Only AC, RC and | |||
| Diamond drilling are reported herein as low confidence is given to the | |||
| reliability of RAB sampling and the RAB drilling is generally very shallow (<3m) | |||
| and not representative of mineralisation at depth. | |||
| Page 10 |
==> picture [633 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| Criteria | JORC Code explanation Commentary |
|---|---|
| Drill sample recovery |
Method of recording and assessing core and chip sample recoveries and results assessed. Sample recovery as determined by bulk residue volume was consistent and sufficient for an evaluation drilling programme. No recovery data for historic drillingwas noted. |
| Measures taken to maximise sample recovery and ensure representative nature of the samples. Every effort made to clean sample system at the end of each 3m rod. Hand sampling of composites by scoop was carried out carefully to avoid any contamination bysoil. |
|
| Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Not regarded to be an issue with this programme. |
|
| Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Simple qualitative geological logs using standard geological coding sheets. Historic data is generally logged for the entire drill interval. Data for some holes has not been able to be recovered. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. Logging is qualitative in nature. The total length and percentage of the relevant intersections logged. Logging was carried out on all RC cuttings. Historic data is generally logged for the entire drill interval |
| Sub-sampling techniques and sample preparation |
If core, whether cut or sawn and whether quarter, half or all core taken. Non core. Historical drilling includes one diamond drill hole. No data is available but it is assumed core was cut in line with typical practices of the time. If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. Composite samples were scooped from bulk residue piles. 1m samples bagged at cyclone through rotary cone splitter. No data is available for historical drilling. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Sample prep in commercial Lab is standard for all assay procedures, whereby sample is dried, homogenized and pulverised. Historic sampling was processed by commercial laboratories in Kalgoorlie/Perth. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples QA QC samples were submitted with composite samples. Individual 1m splits within and adjacent to composite intervals returning >0.1 g/t gold. QA/QC data for historical work is not reported. |
| Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second- half sampling Scooped 3m composites may be biased but individual 1 metre samples are continuous rotary cone split samples and as such are expected to be highly representative of in situ mineralisation. Unknown for historical data. |
==> picture [633 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| Criteria | JORC Code explanation Commentary |
|---|---|
| Whether sample sizes are appropriate to the grain size of the material being sampled. Sample weights of ~3kg documented are adequate for fine gold. No screen fire assays were carried out. Unknown for historical data. |
|
| Quality of assay data and laboratory tests |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. Samples were dispatched for low level gold determination by 30g Fire Assay with AAS finish which is an industry standard process. Assay accuracy determined by laboratory QACQ process. Very high grade gold assay values were subjected to appropriate determinations prior to reporting. Unknown for historical data. |
| 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. Not applicable. 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. Standards, duplicates and blanks were inserted in the composite sample batch at a ratio of approximately 1:10. Unknown for historical data. |
|
| Verification of sampling and assaying |
The verification of significant intersections by either independent or alternative company personnel. Individual 1m splits were submitted for analysis following anomalous 3m composites. All assay and sampling procedures verified by Company personnel. All results reviewed by senior personnel. The use of twinned holes. No twinned holes carried out. Unknown for historical data. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Geological and sampling data recorded on Toughbook in the field to minimise transcription errors. Hole locations recorded on GPS and compared to plan prior to upload to database. Historical data was hand recorded on logging sheets with assay results appended upon receipt. Discuss any adjustment to assay data. No adjustments are made to 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. Collar location surveyed by hand held GPS to an accuracy of +-5m. RC drill holes were set up at surface using a compass and clinometer. Downhole measurements of azimuth, dip and total magnetic intensity were carried out using an Eastman Multishot camera at ~30m intervals and manually recorded on daily drill records. Downhole surveys have been incorporated into the interpretive cross section in the body of the report. |
| Specification of the grid system used. GDA94 UTM co-ordinate system Zone 51. Survey data methods for historic data are unknown. |
==> picture [633 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| Criteria | JORC Code explanation Commentary |
|---|---|
| Quality and adequacy of topographic control. +-10m from AHD has been assumed for regional exploration holes used in designing the follow up programme. |
|
| Data spacing and distribution |
Data spacing for reporting of Exploration Results. RC drilling was designed as first pass to test mineralization and as a validation of past drilling at the HE 1, HE 2, HE 5 and HE 6 targets with no specific spacing was considered in planning. Close spaced approximately 20m x 20m intervals were used for HE 3 and HE 4 where comparatively little previous drilling had been carried out, the objective was both to validate historic data and to determine continuity of shallow mineralization. Historical drill spacing varied from 10m spacing over known quartz veins to first pass reconnaissance spacing of 1 – 2 holesper target. |
| 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. No resource or reserve estimation was carried out. Whether sample compositing has been applied. Samples above 0.5 g/t Au have been composited and reported as individual intervals |
|
| Orientation of data in relation to geological structure |
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. Most holes were drilled perpendicular to the interpreted strike direction. Most historic holes have been drilled approximately perpendicular to strike. A number of early historic holes have been drilled at low angle to the geology and results should be treated with caution. |
| 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. Drilling orientation unlikely to be biased except for some historical holes. |
|
| Sample security |
The measures taken to ensure sample security. Samples are delivered to the laboratory by Matsa Staff. No special security procedures are carried out in the field. |
| Audits or reviews |
The results of any audits or reviews of sampling techniques and data. No audit carried out yet. |
==> picture [604 x 90] intentionally omitted <==
Page 13
==> picture [633 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
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 | Exploration was carried out over the following tenements: |
|
| tenement and | agreements or material issues with third parties such as joint ventures, | E39/1232 which is held 100% by Matsa Gold Pty Ltd. There are no known |
|
| land tenure | partnerships, overriding royalties, native title interests, historical sites, | impediments to operate. |
|
| status | wilderness or national park and environmental settings. | ||
| 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. | Limited drilling was completed in the 1980s. Previous drilling was carried out | |
| by other parties | by a variety of companies, mainly Haoma Resources and later Exterra | ||
| Resources to a limited extent. | |||
| Geology | Deposit type, geological setting and style of mineralisation. | The deposit comprises high grade sulphide quartz lodes. The style of | |
| mineralization is Orogenic Gold, with mineralization occurring at or about peak | |||
| deformation and metamorphism of the Archaean Host sequence which | |||
| comprise mostly mafic ultramafic volcanics that have been intruded by a suite | |||
| of small felsicporphyrybodies. | |||
| Drill hole | A summary of all information material to the understanding of the | Drill hole information is summarized in the report, with collar location setup |
|
| Information | exploration results including a tabulation of the following information for | information and diagrams in the body of the report, assays >0.5 g/t Au are |
|
| all material drill holes: | included as Appendix 2. Significant assays are presented in the body of the | ||
o easting and northing of the drill hole collar |
report. Reference is made to historic drilling, which has been summarized in | ||
o elevation or RL (Reduced Level – elevation above sea level in metres) |
the body of the report. |
||
| of the drill hole collar | |||
o dip and azimuth of the hole |
|||
o down hole length and interception depth |
|||
o hole length. |
No significant information was excluded. | ||
| 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, | Quoted intercepts are based on amalgamations of individual 1m split samples |
|
| aggregation | maximum and/or minimum grade truncations (eg. cutting of high grades) | sometimes. Aggregates are reported as weight averages of individual assay |
|
| methods | and cut-off grades are usually material and should be stated. | results. Historic results are either 1 or 2m intervals. Historic aggregates have | |
| Page 14 |
==> picture [633 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Where aggregate intercepts incorporate short lengths of high grade | been weighted averaged. | |
| results and longer lengths of low grade results, the procedure used for | ||
| such 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 and true widths have not been |
| between | Exploration Results. | quoted. |
| mineralisation | If the geometry of the mineralisation with respect to the drill hole angle is | |
| widths and | known, its nature should be reported. | Hill East lodes are interpreted to be dilation vin sets with varying strike |
| intercept lengths | If it is not known and only the down hole lengths are reported, there | orientations. Drilling has been oriented to be approximately perpendicular to |
| should be a clear statement to this effect (eg ‘down hole length, true | the strike of each vein set. | |
| width not known’). | ||
| Intercepts are expressed in downhole metres. | ||
| Diagrams | Appropriate maps and sections (with scales) and tabulations of intercepts | Appropriate plans and sections have been used to illustrate the results in a |
| should be included for any significant discovery being reported These | meaningful way. | |
| 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 | All drilling information from 2020 was used. Historical AC, RC and diamond drill |
| reporting | practicable, representative reporting of both low and high grades and/or | data was used. RAB data was omitted due to its lower confidence and the |
| widths should be practiced to avoid misleading reporting of Exploration | shallow nature (<3m) not providing any context for this report. | |
| Results. | ||
| Other | Other exploration data, if meaningful and material, should be reported | The review made use of publicly available aeromagnetics and drilling. |
| substantive | including (but not limited to): geological observations; geophysical survey | Geochemistry data acquired by the Goldfields Haoma JV in 1997-1999 was |
| exploration data | results; geochemical survey results; bulk samples – size and method of | obtained from open file reports A55156 and A59636. Sampling was carried out |
| treatment; metallurgical test results; bulk density, groundwater, | using a vehicle mounted power auger at nominal depths ~1.2m but avoiding | |
| geotechnical and rock characteristics; potential deleterious or |
the top 20cm. Assay by Analabs Perth for gold by Aqua Regia digest AAS to | |
| contaminating substances. | 1ppb for Au and 1ppm As. Samples all assayed for Cu,Agand Ni. | |
| Further work | The nature and scale of planned further work (eg tests for lateral | A complete revision of geological model is underway in order to determine the |
| extensions or depth extensions or large-scale step-out drilling). | most appropriate follow up drilling programme. | |
| Diagrams clearly highlighting the areas of possible extensions, including | Potential depth extensions of the lode zone are shown in Sections. | |
| the main geological interpretations and future drilling areas, provided | ||
| this information is not commercially sensitive. |
==> picture [604 x 90] intentionally omitted <==
Page 15
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
Appendix 2 – Hill East 2020 RC Drill Collar Information
| Project | Hole_ID | Hole_Type | Max_Depth | Orig_Grid_ID | Orig_East | Orig_North | Orig_RL |
|---|---|---|---|---|---|---|---|
| Hill East | 20HERC001 | RC | 34 | MGA94_51 | 447369 | 6759184 | 400 |
| Hill East | 20HERC002 | RC | 34 | MGA94_51 | 447347 | 6759180 | 400 |
| Hill East | 20HERC003 | RC | 34 | MGA94_51 | 447322 | 6759169 | 400 |
| Hill East | 20HERC004 | RC | 46 | MGA94_51 | 447298 | 6759169 | 400 |
| Hill East | 20HERC005 | RC | 40 | MGA94_51 | 447288 | 6759168 | 400 |
| Hill East | 20HERC006 | RC | 40 | MGA94_51 | 447270 | 6759172 | 401 |
| Hill East | 20HERC007 | RC | 28 | MGA94_51 | 447265 | 6759146 | 401 |
| Hill East | 20HERC008 | RC | 40 | MGA94_51 | 447261 | 6759162 | 400 |
| Hill East | 20HERC009 | RC | 58 | MGA94_51 | 447239 | 6759169 | 401 |
| Hill East | 20HERC010 | RC | 34 | MGA94_51 | 447395 | 6759194 | 400 |
| Hill East | 20HERC011 | RC | 40 | MGA94_51 | 447325 | 6759059 | 401 |
| Hill East | 20HERC012 | RC | 34 | MGA94_51 | 447305 | 6759051 | 401 |
| Hill East | 20HERC013 | RC | 40 | MGA94_51 | 447305 | 6759066 | 402 |
| Hill East | 20HERC014 | RC | 28 | MGA94_51 | 447324 | 6759036 | 402 |
| Hill East | 20HERC015 | RC | 28 | MGA94_51 | 447341 | 6759042 | 402 |
| Hill East | 20HERC016 | RC | 40 | MGA94_51 | 447344 | 6759055 | 402 |
| Hill East | 20HERC017 | RC | 28 | MGA94_51 | 447365 | 6759037 | 402 |
| Hill East | 20HERC018 | RC | 40 | MGA94_51 | 447361 | 6759059 | 402 |
| Hill East | 20HERC019 | RC | 28 | MGA94_51 | 447377 | 6759035 | 402 |
| Hill East | 20HERC020 | RC | 46 | MGA94_51 | 447385 | 6759051 | 402 |
| Hill East | 20HERC021 | RC | 28 | MGA94_51 | 447400 | 6759027 | 402 |
| Hill East | 20HERC022 | RC | 44 | MGA94_51 | 447404 | 6759048 | 402 |
| Hill East | 20HERC023 | RC | 34 | MGA94_51 | 447424 | 6759027 | 402 |
| Hill East | 20HERC024 | RC | 40 | MGA94_51 | 447424 | 6759051 | 402 |
| Hill East | 20HERC025 | RC | 34 | MGA94_51 | 447441 | 6759031 | 402 |
| Hill East | 20HERC026 | RC | 40 | MGA94_51 | 447442 | 6759046 | 402 |
| Hill East | 20HERC027 | RC | 28 | MGA94_51 | 447320 | 6758813 | 402 |
| Hill East | 20HERC028 | RC | 46 | MGA94_51 | 447313 | 6758832 | 402 |
| Hill East | 20HERC029 | RC | 34 | MGA94_51 | 447344 | 6758821 | 402 |
| Hill East | 20HERC030 | RC | 46 | MGA94_51 | 447336 | 6758847 | 402 |
| Hill East | 20HERC031 | RC | 46 | MGA94_51 | 447543 | 6758723 | 402 |
| Hill East | 20HERC032 | RC | 40 | MGA94_51 | 447505 | 6758729 | 402 |
| Hill East | 20HERC033 | RC | 40 | MGA94_51 | 447477 | 6758737 | 402 |
| Hill East | 20HILLRC001 | RC | 80 | MGA94_51 | 446693 | 6758871 | 408 |
| Hill East | 20HILLRC002 | RC | 40 | MGA94_51 | 446700 | 6758910 | 407 |
| Hill East | 20LBRC001 | RC | 16 | MGA94_51 | 446634 | 6758437 | 423 |
| Hill East | 20LBRC002 | RC | 20 | MGA94_51 | 446638 | 6758442 | 422 |
| Hill East | 20LBRC003 | RC | 20 | MGA94_51 | 446613 | 6758433 | 422 |
Page 16
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
Appendix 3 – Hill East 2020 RC Drilling Intercepts >0.5 g/t Au
Intercepts >0.5 Au with intercepts including less than 2m at <0.5 g/t Au
| Hole | From (m) |
To (m) |
Thick(m) | Au ppm |
Target | Previous Reference | Intercept |
|---|---|---|---|---|---|---|---|
| 20HERC001 | 1 | 3 | 2 | 1.75 | HE4 | Hill East No 2 Lode | [email protected] from 1m(20HERC001 HE4) |
| 20HERC001 | 6 | 11 | 5 | 4.01 | HE4 | Hill East No 2 Lode | [email protected] from 6m(20HERC001 HE4) |
| 20HERC002 | 0 | 9 | 9 | 3.04 | HE4 | Hill East No 2 Lode | [email protected] from 0m(20HERC002 HE4) |
| 20HERC003 | 2 | 14 | 12 | 1.96 | HE4 | Hill East No 2 Lode | [email protected] from 2m(20HERC003 HE4) |
| 20HERC004 | 3 | 4 | 1 | 0.72 | HE4 | Hill East No 2 Lode | [email protected] from 3m(20HERC004 HE4) |
| 20HERC005 | 0 | 4 | 4 | 1.12 | HE4 | Hill East No 2 Lode | [email protected] from 0m(20HERC005 HE4) |
| 20HERC005 | 15 | 21 | 6 | 3.43 | HE4 | Hill East No 2 Lode | [email protected] from 15m(20HERC005 HE4) |
| 20HERC006 | 6 | 7 | 1 | 1.49 | HE4 | Hill East No 2 Lode | [email protected] from 6m(20HERC006 HE4) |
| 20HERC006 | 28 | 31 | 3 | 1.22 | HE4 | Hill East No 2 Lode | [email protected] from 28m(20HERC006 HE4) |
| 20HERC007 | 7 | 9 | 2 | 7.14 | HE4 | Hill East No 2 Lode | [email protected] from 7m(20HERC007 HE4) |
| 20HERC007 | 15 | 18 | 3 | 6.82 | HE4 | Hill East No 2 Lode | [email protected] from 15m(20HERC007 HE4) |
| 20HERC008 | 21 | 22 | 1 | 13.3 | HE4 | Hill East No 2 Lode | [email protected] from 21m(20HERC008 HE4) |
| 20HERC008 | 27 | 40 | 13 | 1.31 | HE4 | Hill East No 2 Lode | [email protected] from 27m(20HERC008 HE4) |
| 20HERC009 | 27 | 33 | 6 | 0.79 | HE4 | Hill East No 2 Lode | [email protected] from 27m(20HERC009 HE4) |
| 20HERC010 | 31 | 32 | 1 | 0.51 | HE4 | Hill East No 2 Lode | [email protected] from 31m(20HERC010 HE4) |
| 20HERC011 | 3 | 4 | 1 | 1.15 | HE3 | Hill East No 2 South Lode | [email protected] from 3m(20HERC011 HE3) |
| 20HERC013 | 7 | 9 | 2 | 1.63 | HE3 | Hill East No 2 South Lode | [email protected] from 7m(20HERC013 HE3) |
| 20HERC013 | 17 | 18 | 1 | 0.97 | HE3 | Hill East No 2 South Lode | [email protected] from 17m(20HERC013 HE3) |
| 20HERC015 | 0 | 2 | 2 | 2.68 | HE3 | Hill East No 2 South Lode | [email protected] from 0m(20HERC015 HE3) |
| 20HERC016 | 1 | 2 | 1 | 0.63 | HE3 | Hill East No 2 South Lode | [email protected] from 1m(20HERC016 HE3) |
| 20HERC016 | 34 | 35 | 1 | 0.7 | HE3 | Hill East No 2 South Lode | [email protected] from 34m(20HERC016 HE3) |
| 20HERC018 | 31 | 32 | 1 | 0.94 | HE3 | Hill East No 2 South Lode | [email protected] from 31m(20HERC018 HE3) |
| 20HERC018 | 39 | 40 | 1 | 4.06 | HE3 | Hill East No 2 South Lode | [email protected] from 39m(20HERC018 HE3) |
| 20HERC020 | 35 | 37 | 2 | 0.81 | HE3 | Hill East No 2 South Lode | [email protected] from 35m(20HERC020 HE3) |
| 20HERC021 | 1 | 4 | 3 | 0.84 | HE3 | Hill East No 2 South Lode | [email protected] from 1m(20HERC021 HE3) |
| 20HERC022 | 36 | 37 | 1 | 0.59 | HE3 | Hill East No 2 South Lode | [email protected] from 36m(20HERC022 HE3) |
| 20HERC023 | 0 | 2 | 2 | 0.73 | HE3 | Hill East No 2 South Lode | [email protected] from 0m(20HERC023 HE3) |
| 20HERC025 | 3 | 5 | 2 | 1.66 | HE3 | Hill East No 2 South Lode | [email protected] from 3m(20HERC025 HE3) |
| 20HERC025 | 12 | 16 | 4 | 0.87 | HE3 | Hill East No 2 South Lode | [email protected] from 12m(20HERC025 HE3) |
| 20HERC025 | 29 | 31 | 2 | 0.55 | HE3 | Hill East No 2 South Lode | [email protected] from 29m(20HERC025 HE3) |
| 20HERC026 | 0 | 6 | 6 | 1.33 | HE3 | Hill East No 2 South Lode | [email protected] from 0m(20HERC026 HE3) |
| 20HERC027 | 4 | 8 | 4 | 3.29 | HE2 | Hill East No 1 West Lode | [email protected] from 4m(20HERC027 HE2) |
| 20HERC027 | 25 | 26 | 1 | 0.53 | HE2 | Hill East No 1 West Lode | [email protected] from 25m(20HERC027 HE2) |
| 20HERC028 | 20 | 27 | 7 | 1.53 | HE2 | Hill East No 1 West Lode | [email protected] from 20m(20HERC028 HE2) |
| 20HERC029 | 11 | 16 | 5 | 0.97 | HE2 | Hill East No 1 West Lode | [email protected] from 11m(20HERC029 HE2) |
| 20HERC029 | 23 | 24 | 1 | 0.63 | HE2 | Hill East No 1 West Lode | [email protected] from 23m(20HERC029 HE2) |
| 20HERC030 | 16 | 20 | 4 | 1.23 | HE2 | Hill East No 1 West Lode | [email protected] from 16m(20HERC030 HE2) |
Page 17
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| 20HERC030 | 27 | 29 | 2 | 1.21 | HE2 | Hill East No 1 West Lode | [email protected] from 27m(20HERC030 HE2) |
|---|---|---|---|---|---|---|---|
| 20HERC030 | 44 | 45 | 1 | 0.94 | HE2 | Hill East No 1 West Lode | [email protected] from 44m(20HERC030 HE2) |
| 20HERC031 | 9 | 12 | 3 | 1.27 | HE1 | Hill East No 1 Lode | [email protected] from 9m(20HERC031 HE1) |
| 20HERC031 | 18 | 19 | 1 | 1.02 | HE1 | Hill East No 1 Lode | [email protected] from 18m(20HERC031 HE1) |
| 20HERC032 | 2 | 29 | 27 | 2.04 | HE1 | Hill East No 1 Lode | [email protected] from 2m(20HERC032 HE1) |
| 20HERC032 | 36 | 37 | 1 | 3.77 | HE1 | Hill East No 1 Lode | [email protected] from 36m(20HERC032 HE1) |
| 20HERC033 | 0 | 1 | 1 | 1.83 | HE1 | Hill East No 1 Lode | [email protected] from 0m(20HERC033 HE1) |
| 20HERC033 | 28 | 31 | 3 | 2.23 | HE1 | Hill East No 1 Lode | [email protected] from 28m(20HERC033 HE1) |
| 20HERC033 | 39 | 40 | 1 | 0.73 | HE1 | Hill East No 1 Lode | [email protected] from 39m(20HERC033 HE1) |
| 20LBRC001 | 8 | 10 | 2 | 0.84 | HE5 | Linden Bore | [email protected] from 8m(20LBRC001 HE5) |
| 20LBRC001 | 14 | 16 | 2 | 1.48 | HE5 | Linden Bore | [email protected] from 14m(20LBRC001 HE5) |
| 20LBRC003 | 13 | 17 | 4 | 6.3 | HE5 | Linden Bore | [email protected] from 13m(20LBRC003 HE5) |
| 20LBRC004 | 0 | 13 | 13 | 1.86 | HE5 | Linden Bore | [email protected] from 0m(20LBRC004 HE5) |
Page 18
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
Appendix 4 – Hill East Historical Significant Drilling Results >0.5 g/t Au
| Hole_ID | **Type ** | East MGA | North MGA |
RL Nom | Depth (m) |
Dip | Azi | From (m) |
To (m) |
Thick (m) |
**Au_ppm ** |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 93HEP001 | RC | 447487 | 6758736 | 400 | 46 | -60 | 193 | 0 | 1 | 1 | 1.4 |
| 5 | 8 | 3 | 2.0 | ||||||||
| 20 | 21 | 1 | 0.9 | ||||||||
| 25 | 31 | 6 | 1.5 | ||||||||
| 38 | 42 | 4 | 0.6 | ||||||||
| EXAC060 | AC | 446478 | 6758863 | 404 | 12 | -60 | 90 | ||||
| EXAC061 | AC | 446536 | 6758794 | 407 | 42 | -60 | 90 | 16 | 19 | 3 | 0.6 |
| EXAC062 | AC | 446535 | 6758773 | 407 | 42 | -60 | 90 | ||||
| EXAC063 | AC | 446548 | 6758774 | 407 | 18 | -60 | 90 | ||||
| EXAC064 | AC | 446535 | 6758749 | 408 | 30 | -60 | 90 | 20 | 21 | 1 | 0.5 |
| EXAC065 | AC | 446549 | 6758751 | 408 | 24 | -60 | 90 | 16 | 17 | 1 | 1.5 |
| EXAC066 | AC | 446564 | 6758750 | 408 | 24 | -60 | 90 | 3 | 4 | 1 | 0.8 |
| EXAC067 | AC | 446535 | 6758832 | 406 | 30 | -60 | 90 | ||||
| EXAC068 | AC | 446541 | 6758707 | 411 | 30 | -60 | 90 | 19 | 20 | 1 | 0.9 |
| EXAC079 | AC | 446590 | 6758430 | 414 | 18 | -60 | 180 | 0 | 13 | 13 | 1.3 |
| EXAC080 | AC | 446612 | 6758433 | 413 | 18 | -60 | 180 | 0 | 1 | 1 | 1.4 |
| 9 | 13 | 4 | 3.8 | ||||||||
| EXAC081 | AC | 446658 | 6758428 | 411 | 18 | -60 | 180 | 11 | 13 | 2 | 1.9 |
| EXAC082 | AC | 447542 | 6758728 | 400 | 36 | -60 | 190 | 9 | 25 | 16 | 1.7 |
| 32 | 36 | 4 | 0.6 | ||||||||
| EXAC083 | AC | 447545 | 6758750 | 400 | 51 | -60 | 190 | 41 | 42 | 1 | 1.2 |
| EXAC084 | AC | 447546 | 6758763 | 400 | 90 | -60 | 190 | 70 | 71 | 1 | 0.7 |
| 74 | 75 | 1 | 0.5 | ||||||||
| 76 | 77 | 1 | 0.5 | ||||||||
| EXAC085 | AC | 447526 | 6758739 | 400 | 45 | -60 | 190 | 15 | 16 | 1 | 1.2 |
| 35 | 38 | 3 | 1.6 | ||||||||
| EXAC086 | AC | 447528 | 6758758 | 400 | 84 | -60 | 190 | 44 | 48 | 4 | 0.7 |
| 60 | 62 | 2 | 0.8 | ||||||||
| EXAC087 | AC | 447506 | 6758735 | 400 | 39 | -60 | 190 | 4 | 7 | 3 | 1.4 |
| 12 | 28 | 16 | 1.5 | ||||||||
| 31 | 33 | 2 | 0.9 | ||||||||
| EXAC088 | AC | 447508 | 6758749 | 400 | 57 | -60 | 190 | 27 | 28 | 1 | 1.2 |
| 31 | 39 | 8 | 1.8 | ||||||||
| EXAC089 | AC | 447487 | 6758768 | 400 | 69 | -60 | 190 | 58 | 63 | 5 | 4.1 |
| EXAC090 | AC | 447459 | 6758733 | 400 | 57 | -60 | 190 | 6 | 7 | 1 | 1.1 |
| 25 | 27 | 2 | 1.5 | ||||||||
| 31 | 33 | 2 | 5.6 | ||||||||
| 39 | 40 | 1 | 0.9 | ||||||||
| EXAC091 | AC | 447465 | 6758762 | 400 | 84 | -60 | 190 | 57 | 58 | 1 | 0.6 |
| 70 | 72 | 2 | 1.5 | ||||||||
| EXAC092 | AC | 447458 | 6758705 | 400 | 40 | -60 | 135 | 9 | 12 | 3 | 1.3 |
| EXAC093 | AC | 447441 | 6758720 | 400 | 57 | -60 | 135 | 23 | 27 | 4 | 3.2 |
| 47 | 49 | 2 | 1.2 | ||||||||
| EXAC094 | AC | 447429 | 6758735 | 400 | 63 | -60 | 135 | 39 | 42 | 3 | 1.4 |
| EXAC095 | AC | 447432 | 6758679 | 400 | 51 | -60 | 135 | ||||
| EXAC096 | AC | 447418 | 6758693 | 405 | 42 | -60 | 135 | ||||
| EXAC097 | AC | 447400 | 6758707 | 400 | 42 | -60 | 135 | 28 | 33 | 5 | 1.3 |
| EXAC098 | AC | 447345 | 6758732 | 400 | 45 | -60 | 180 | ||||
| EXAC099 | AC | 447343 | 6758757 | 400 | 30 | -60 | 180 | ||||
| EXAC100 | AC | 447323 | 6758858 | 400 | 51 | -60 | 160 | 32 | 39 | 7 | 2.7 |
| EXAC101 | AC | 447304 | 6758850 | 400 | 51 | -60 | 160 | 32 | 33 | 1 | 0.6 |
| EXAC102 | AC | 447285 | 6758843 | 400 | 51 | -60 | 160 | 1 | 2 | 1 | 0.5 |
| 28 | 32 | 4 | 0.8 | ||||||||
| EXRC001 | RC | 447267 | 6758835 | 400 | 35 | -60 | 160 | 25 | 26 | 1 | 1.7 |
| EXRC002 | RC | 447254 | 6758814 | 400 | 29 | -60 | 160 | 13 | 14 | 1 | 2.2 |
| EXRC003 | RC | 447247 | 6758828 | 400 | 41 | -60 | 160 |
Page 19
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| EXRC004 | RC | 447236 | 6758803 | 400 | 35 | -60 | 160 | 9 | 10 | 1 | 0.6 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EXRC005 | RC | 447229 | 6758822 | 400 | 26 | -60 | 160 | 25 | 26 | 1 | 3.6 |
| EXRC006 | RC | 446591 | 6758450 | 415 | 59 | -60 | 180 | 30 | 35 | 5 | 2.9 |
| EXRC007 | RC | 446612 | 6758453 | 414 | 50 | -60 | 180 | 34 | 36 | 2 | 1.5 |
| EXRC008 | RC | 446632 | 6758450 | 413 | 44 | -60 | 180 | 29 | 31 | 2 | 3.4 |
| EXRC009 | RC | 446661 | 6758446 | 412 | 59 | -60 | 170 | 39 | 42 | 3 | 1.4 |
| EXRC010 | RC | 446686 | 6758438 | 410 | 50 | -60 | 180 | ||||
| EXRC011 | RC | 446570 | 6758430 | 415 | 29 | -60 | 180 | 5 | 8 | 3 | 1.4 |
| EXRC012 | RC | 446570 | 6758449 | 416 | 50 | -60 | 180 | 33 | 35 | 2 | 3.7 |
| EXRC013 | RC | 446550 | 6758430 | 416 | 38 | -60 | 180 | 6 | 7 | 1 | 1.6 |
| 17 | 18 | 1 | 6.9 | ||||||||
| 28 | 29 | 1 | 2.7 | ||||||||
| EXRC014 | RC | 446552 | 6758450 | 417 | 44 | -60 | 180 | 14 | 15 | 1 | 1.4 |
| 33 | 34 | 1 | 3.8 | ||||||||
| EXRC015 | RC | 446532 | 6758430 | 417 | 41 | -60 | 180 | ||||
| EXRC016 | RC | 446506 | 6758421 | 417 | 47 | -60 | 180 | ||||
| HLP001 | RC | 447509 | 6758765 | 399 | 62 | -60 | 189 | 6 | 8 | 2 | 1.4 |
| 52 | 58 | 6 | 1.3 | ||||||||
| HLP002 | RC | 447504 | 6758733 | 400 | 56 | -60 | 185 | 2 | 12 | 10 | 1.4 |
| 16 | 30 | 14 | 1.8 | ||||||||
| HLP003 | RC | 447499 | 6758705 | 400 | 60 | -60 | 188 | 2 | 4 | 2 | 0.5 |
| HLP004 | RC | 447568 | 6758761 | 400 | 60 | -60 | 190 | 38 | 40 | 2 | 1.1 |
| 54 | 56 | 2 | 1.2 | ||||||||
| HLP005 | RC | 447563 | 6758732 | 400 | 60 | -60 | 190 | 8 | 10 | 2 | 1.5 |
| 24 | 26 | 2 | 0.9 | ||||||||
| 30 | 32 | 2 | 0.6 | ||||||||
| HLP006 | RC | 447558 | 6758702 | 400 | 60 | -60 | 189 | 30 | 34 | 4 | 1.0 |
| HLP007 | RC | 447334 | 6758835 | 400 | 40 | -60 | 164 | 2 | 4 | 2 | 0.9 |
| 14 | 28 | 14 | 1.7 | ||||||||
| HLP008 | RC | 447132 | 6759368 | 400 | 60 | -60 | 142 | 16 | 18 | 2 | 1.2 |
| HLP009 | RC | 447173 | 6759467 | 400 | 60 | -60 | 114 | 14 | 22 | 8 | 1.5 |
| HLP010 | RC | 446692 | 6758946 | 400 | 40 | -60 | 80 | 34 | 36 | 2 | 1.0 |
| HLP011 | RC | 447297 | 6758821 | 400 | 38 | -60 | 160 | 16 | 22 | 6 | 1.7 |
| HLP012 | RC | 447372 | 6758848 | 400 | 34 | -60 | 160 | ||||
| HLP014 | RC | 447195 | 6759454 | 400 | 38 | -60 | 160 | ||||
| HLP015 | RC | 447604 | 6758723 | 400 | 34 | -60 | 190 | ||||
| HLP016 | RC | 447465 | 6758738 | 400 | 44 | -60 | 190 | 38 | 40 | 2 | 3.5 |
| HLP017 | RC | 447328 | 6759205 | 400 | 36 | -60 | 160 | 0 | 2 | 2 | 0.7 |
| 26 | 28 | 2 | 1.0 | ||||||||
| HLP018 | RC | 447334 | 6759180 | 400 | 40 | -60 | 160 | 2 | 4 | 2 | 1.1 |
| HLP019 | RC | 447345 | 6759158 | 400 | 40 | -60 | 160 | 0 | 2 | 2 | 0.9 |
| 30 | 32 | 2 | 1.0 | ||||||||
| HLP020 | RC | 447316 | 6759179 | 400 | 40 | -60 | 160 | 20 | 30 | 10 | 2.2 |
| HLP021 | RC | 447299 | 6759168 | 400 | 40 | -60 | 160 | 4 | 6 | 2 | 1.2 |
| 14 | 16 | 2 | 3.6 | ||||||||
| HLP022 | RC | 447524 | 6758724 | 400 | 40 | -60 | 190 | 2 | 10 | 8 | 1.2 |
| 14 | 20 | 6 | 2.0 | ||||||||
| HLP023 | RC | 447189 | 6759473 | 400 | 58 | -60 | 160 | ||||
| HLP024 | RC | 447218 | 6759498 | 400 | 44 | -60 | 160 | 10 | 12 | 2 | 0.8 |
| HLP025 | RC | 447137 | 6759439 | 400 | 54 | -60 | 160 | 20 | 22 | 2 | 1.1 |
| HLP026 | RC | 447100 | 6759425 | 400 | 56 | -60 | 160 | 12 | 18 | 6 | 1.5 |
| HLP028 | RC | 447601 | 6758671 | 400 | 31 | -60 | 190 | 8 | 10 | 2 | 1.4 |
| HLP029 | RC | 447485 | 6758747 | 400 | 50 | -60 | 190 | 8 | 10 | 2 | 1.4 |
| HLP031 | RC | 447278 | 6758814 | 400 | 32 | -60 | 160 | 12 | 14 | 2 | 2.7 |
| HLP032 | RC | 447600 | 6758708 | 400 | 35 | -60 | 190 | 2 | 8 | 6 | 0.8 |
| HLP033 | RC | 447541 | 6758720 | 400 | 40 | -60 | 190 | 0 | 20 | 20 | 4.0 |
| HLP034 | RC | 447550 | 6758756 | 400 | 46 | -60 | 190 | 38 | 44 | 6 | 2.4 |
| HLP035 | RC | 447545 | 6758737 | 400 | 50 | -60 | 190 | 12 | 36 | 24 | 0.7 |
| HLP045 | RC | 447215 | 6759505 | 400 | 14 | -60 | 160 | ||||
| HLP046 | RC | 447316 | 6758828 | 400 | 34 | -60 | 160 | 16 | 22 | 6 | 3.1 |
Page 20
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| HLP047 | RC | 447353 | 6758842 | 400 | 40 | -60 | 160 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| HLP048 | RC | 447517 | 6758694 | 400 | 30 | -60 | 190 | ||||
| HLP049 | RC | 447314 | 6759125 | 400 | 45 | -60 | 160 | 0 | 8 | 8 | 0.8 |
| HLP050 | RC | 447503 | 6758726 | 400 | 32 | -60 | 190 | 2 | 22 | 20 | 1.1 |
| 28 | 30 | 2 | 0.8 | ||||||||
| HLP051 | RC | 447482 | 6758732 | 400 | 36 | -60 | 190 | 22 | 28 | 6 | 2.1 |
| HLP052 | RC | 447528 | 6758747 | 400 | 30 | -60 | 190 | ||||
| HLP053 | RC | 447525 | 6758735 | 400 | 37 | -60 | 190 | 6 | 8 | 2 | 3.0 |
| 28 | 36 | 8 | 3.8 | ||||||||
| HLP054 | RC | 447461 | 6758710 | 400 | 30 | -60 | 190 | ||||
| HLP060 | RC | 447507 | 6758749 | 400 | 50 | -60 | 190 | 46 | 48 | 2 | 0.9 |
| HLP061 | RC | 447544 | 6758726 | 400 | 35 | -60 | 190 | 0 | 8 | 8 | 1.8 |
| 12 | 22 | 10 | 2.5 | ||||||||
| 26 | 32 | 6 | 1.1 | ||||||||
| HLP062 | RC | 447549 | 6758745 | 400 | 40 | -60 | 188 | 8 | 10 | 2 | 1.4 |
| 22 | 30 | 8 | 1.0 | ||||||||
| HLP063 | RC | 447553 | 6758765 | 400 | 60 | -60 | 190 | 18 | 20 | 2 | 0.8 |
| 54 | 56 | 2 | 0.8 | ||||||||
| HLP064 | RC | 447567 | 6758747 | 400 | 50 | -60 | 193 | 36 | 40 | 4 | 0.8 |
| HLP065 | RC | 447559 | 6758714 | 400 | 30 | -60 | 190 | 0 | 6 | 6 | 0.6 |
| 22 | 24 | 2 | 0.8 | ||||||||
| HLP066 | RC | 447555 | 6758686 | 400 | 30 | -60 | 193 | 4 | 10 | 6 | 0.6 |
| 14 | 18 | 4 | 1.3 | ||||||||
| HLP067 | RC | 447585 | 6758744 | 400 | 40 | -60 | 189 | 30 | 34 | 4 | 2.1 |
| HLP068 | RC | 447582 | 6758729 | 400 | 30 | -60 | 190 | 18 | 22 | 4 | 0.9 |
| HLP069 | RC | 447489 | 6758722 | 400 | 35 | -60 | 222 | 0 | 2 | 2 | 1.6 |
| 16 | 34 | 18 | 1.9 | ||||||||
| HLP070 | RC | 447523 | 6758712 | 400 | 20 | -60 | 191 | 0 | 16 | 16 | 2.1 |
| HLP071 | RC | 447536 | 6758687 | 400 | 40 | -60 | 191 | 4 | 8 | 4 | 0.9 |
| LNRC031 | RC | 447113 | 6759131 | 406 | 60 | -60 | 62 | ||||
| LNRC032 | RC | 447094 | 6758909 | 407 | 60 | -60 | 72 | ||||
| SLAC001 | AC | 447518 | 6759158 | 400 | 49 | -60 | 90 | ||||
| SLAC002 | AC | 447538 | 6759358 | 400 | 25 | -60 | 90 | ||||
| SLAC003 | AC | 447498 | 6759358 | 400 | 19 | -60 | 90 | ||||
| SLAC005 | AC | 447418 | 6759358 | 403 | 40 | -60 | 90 | ||||
| SLAC009 | AC | 447378 | 6759358 | 400 | 22 | -60 | 90 | ||||
| SLAC013 | AC | 447238 | 6758958 | 400 | 28 | -60 | 90 | ||||
| SLAC014 | AC | 447198 | 6758958 | 400 | 22 | -60 | 90 | ||||
| SLAC016 | AC | 447758 | 6758558 | 400 | 4 | -60 | 90 | ||||
| SLAC017 | AC | 447718 | 6758558 | 400 | 7 | -60 | 90 | ||||
| SLAC018 | AC | 447678 | 6758558 | 400 | 14 | -60 | 90 | 4 | 8 | 4 | 0.5 |
| SLAC019 | AC | 447638 | 6758558 | 400 | 4 | -60 | 90 | ||||
| SLAC020 | AC | 447598 | 6758558 | 400 | 4 | -60 | 90 | ||||
| SLAC021 | AC | 447558 | 6758558 | 400 | 14 | -60 | 90 | ||||
| SLAC022 | AC | 447518 | 6758558 | 400 | 10 | -60 | 90 | 8 | 10 | 2 | 0.9 |
| SLAC023 | AC | 447478 | 6758558 | 400 | 31 | -60 | 90 | ||||
| SLAC024 | AC | 447438 | 6758558 | 400 | 46 | -60 | 90 | 4 | 8 | 4 | 0.8 |
| SLAC025 | AC | 447398 | 6758558 | 400 | 13 | -60 | 90 | ||||
| SLCD001 | DDH | 447198 | 6759158 | 400 | 199 | -60 | 90 | 115 | 116 | 1 | 1.3 |
| 120 | 121 | 1 | 1.6 | ||||||||
| SLRC001 | RC | 447718 | 6758758 | 400 | 31 | -60 | 90 | ||||
| SLRC002 | RC | 447678 | 6758758 | 400 | 39 | -60 | 90 | ||||
| SLRC003 | RC | 447638 | 6758758 | 400 | 40 | -60 | 90 | ||||
| SLRC004 | RC | 447518 | 6758958 | 400 | 39 | -60 | 90 | ||||
| SLRC005 | RC | 447558 | 6758958 | 400 | 22 | -60 | 90 | 5 | 9 | 4 | 0.6 |
| SLRC006 | RC | 447598 | 6758958 | 400 | 22 | -60 | 90 | ||||
| SLRC007 | RC | 447638 | 6758958 | 400 | 22 | -60 | 90 | ||||
| SLRC008 | RC | 447638 | 6759158 | 400 | 22 | -60 | 90 | ||||
| SLRC009 | RC | 447598 | 6759158 | 400 | 34 | -60 | 90 | ||||
| SLRC010 | RC | 447558 | 6759158 | 400 | 36 | -60 | 90 |
Page 21
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| SLRC011 | RC | 447478 | 6759158 | 400 | 34 | -60 | 90 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| SLRC012 | RC | 447438 | 6759158 | 400 | 82 | -60 | 90 | ||||
| SLRC013 | RC | 447398 | 6759158 | 400 | 82 | -60 | 90 | 0 | 1 | 1 | 0.7 |
| SLRC014 | RC | 447358 | 6759158 | 400 | 82 | -60 | 90 | ||||
| SLRC015 | RC | 447318 | 6759148 | 400 | 88 | -60 | 90 | 64 | 65 | 1 | 0.6 |
| SLRC016 | RC | 447269 | 6759158 | 402 | 82 | -60 | 90 | 30 | 32 | 2 | 0.6 |
| 49 | 54 | 5 | 1.3 | ||||||||
| SLRC017 | RC | 447238 | 6759158 | 402 | 82 | -60 | 90 | 13 | 14 | 1 | 2.0 |
| 17 | 19 | 2 | 1.0 | ||||||||
| 43 | 53 | 10 | 2.7 | ||||||||
| SLRC018 | RC | 447478 | 6758958 | 400 | 82 | -60 | 90 | 14 | 17 | 3 | 0.8 |
| 22 | 25 | 3 | 0.7 | ||||||||
| 29 | 30 | 1 | 0.5 | ||||||||
| 39 | 46 | 7 | 0.9 | ||||||||
| SLRC019 | RC | 447438 | 6758958 | 400 | 82 | -60 | 90 | 37 | 39 | 2 | 0.9 |
| 50 | 51 | 1 | 0.6 | ||||||||
| 73 | 74 | 1 | 0.5 | ||||||||
| SLRC020 | RC | 447398 | 6758958 | 400 | 82 | -60 | 90 | 44 | 49 | 5 | 1.9 |
| SLRC021 | RC | 447358 | 6758958 | 400 | 82 | -60 | 90 | 7 | 10 | 3 | 2.5 |
| 59 | 60 | 1 | 0.6 | ||||||||
| 64 | 65 | 1 | 2.5 | ||||||||
| SLRC022 | RC | 447318 | 6758958 | 403 | 82 | -60 | 90 | 34 | 35 | 1 | 0.9 |
| 59 | 60 | 1 | 0.7 | ||||||||
| SLRC023 | RC | 447278 | 6758958 | 403 | 82 | -60 | 90 | 53 | 54 | 1 | 0.9 |
| 61 | 63 | 2 | 2.1 | ||||||||
| 74 | 75 | 1 | 0.7 | ||||||||
| SLRC024 | RC | 447598 | 6758758 | 400 | 82 | -60 | 90 | ||||
| SLRC025 | RC | 447558 | 6758782 | 400 | 82 | -60 | 90 | 4 | 5 | 1 | 0.8 |
| 48 | 49 | 1 | 0.8 | ||||||||
| 66 | 68 | 2 | 1.3 | ||||||||
| SLRC026 | RC | 447518 | 6758758 | 400 | 82 | -60 | 90 | ||||
| SLRC027 | RC | 447478 | 6758758 | 400 | 82 | -60 | 90 | 0 | 1 | 1 | 4.1 |
| SLRC028 | RC | 447438 | 6758758 | 400 | 82 | -60 | 90 | 56 | 57 | 1 | 0.6 |
| 78 | 79 | 1 | 0.8 | ||||||||
| SLRC029 | RC | 447398 | 6758758 | 401 | 82 | -60 | 90 | ||||
| SLRC030 | RC | 447358 | 6758782 | 401 | 82 | -60 | 90 | ||||
| SLRC031 | RC | 447318 | 6758758 | 403 | 82 | -60 | 90 | 8 | 11 | 3 | 3.1 |
| SLRC032 | RC | 447278 | 6758758 | 404 | 82 | -60 | 90 | ||||
| SLRC033 | RC | 447238 | 6758758 | 404 | 82 | -60 | 90 | 1 | 2 | 1 | 0.5 |
| SLRC034 | RC | 447438 | 6758746 | 400 | 82 | -60 | 180 | 50 | 52 | 2 | 2.0 |
| 55 | 57 | 2 | 0.6 | ||||||||
| 64 | 65 | 1 | 0.7 | ||||||||
| SLRC035 | RC | 447438 | 6758798 | 400 | 82 | -60 | 180 | 52 | 53 | 1 | 0.9 |
| 55 | 56 | 1 | 0.7 | ||||||||
| SLRC036 | RC | 447438 | 6758838 | 400 | 82 | -60 | 180 | ||||
| SLRC037 | RC | 447438 | 6758878 | 400 | 82 | -60 | 180 | 26 | 27 | 1 | 2.3 |
| SLRC038 | RC | 447438 | 6758918 | 400 | 82 | -60 | 180 | 23 | 25 | 2 | 0.8 |
| 32 | 34 | 2 | 0.6 | ||||||||
| SLRC039 | RC | 447438 | 6758958 | 400 | 82 | -60 | 180 | 6 | 7 | 1 | 1.0 |
| 33 | 34 | 1 | 2.6 | ||||||||
| 54 | 55 | 1 | 0.6 | ||||||||
| SLRC040 | RC | 447438 | 6758998 | 400 | 82 | -60 | 180 | 22 | 25 | 3 | 0.8 |
| 63 | 64 | 1 | 2.1 | ||||||||
| 67 | 68 | 1 | 1.3 | ||||||||
| 76 | 77 | 1 | 0.9 | ||||||||
| SLRC041 | RC | 447438 | 6759038 | 400 | 82 | -60 | 180 | 1 | 3 | 2 | 0.6 |
| 8 | 9 | 1 | 0.8 | ||||||||
| 14 | 21 | 7 | 0.8 | ||||||||
| 49 | 50 | 1 | 0.5 | ||||||||
| SLRC042 | RC | 447438 | 6759078 | 400 | 82 | -60 | 180 | 11 | 12 | 1 | 1.0 |
Page 22
==> picture [596 x 60] intentionally omitted <==
----- Start of picture text -----
Matsa Resources Limited
----- End of picture text -----
| 40 | 46 | 6 | 2.8 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 49 | 52 | 3 | 0.8 | ||||||||
| SLRC043 | RC | 447438 | 6759118 | 400 | 82 | -60 | 180 | ||||
| SLRC044 | RC | 447438 | 6759158 | 400 | 82 | -60 | 180 | ||||
| SLRC045 | RC | 447198 | 6759158 | 400 | 82 | -60 | 90 | 0 | 1 | 1 | 1.1 |
| SLRC047 | RC | 447238 | 6759198 | 400 | 82 | -60 | 180 | 1 | 2 | 1 | 0.7 |
| 62 | 64 | 2 | 1.4 | ||||||||
| SLRC048 | RC | 447238 | 6759238 | 400 | 82 | -60 | 180 | 38 | 39 | 1 | 0.5 |
| SLRC049 | RC | 447238 | 6759278 | 400 | 82 | -60 | 180 | 69 | 70 | 1 | 1.0 |
| SLRC050 | RC | 447238 | 6759318 | 400 | 82 | -60 | 180 | 9 | 10 | 1 | 3.5 |
| 27 | 28 | 1 | 0.7 | ||||||||
| 30 | 31 | 1 | 0.6 | ||||||||
| 70 | 71 | 1 | 0.6 | ||||||||
| SLRC054 | RC | 447338 | 6759358 | 400 | 82 | -60 | 90 | ||||
| SLRC055 | RC | 447298 | 6759358 | 400 | 82 | -60 | 90 | ||||
| SLRC057 | RC | 447218 | 6759358 | 400 | 82 | -60 | 90 | ||||
| SLRC060 | RC | 447298 | 6759558 | 400 | 82 | -60 | 90 | ||||
| SLRC066 | RC | 447238 | 6759258 | 400 | 100 | -60 | 90 | ||||
| SLRC067 | RC | 447198 | 6759258 | 400 | 100 | -60 | 90 | ||||
| SLRC068 | RC | 447278 | 6759058 | 404 | 100 | -60 | 90 | 34 | 36 | 2 | 1.0 |
| 90 | 91 | 1 | 3.0 | ||||||||
| SLRC069 | RC | 447238 | 6759058 | 404 | 100 | -60 | 90 | 50 | 52 | 2 | 2.6 |
| SLRC070 | RC | 447263 | 6758958 | 404 | 124 | -60 | 90 | 104 | 105 | 1 | 0.7 |
| SLRC071 | RC | 447318 | 6758858 | 404 | 100 | -60 | 90 | ||||
| SLRC072 | RC | 447278 | 6758858 | 404 | 100 | -60 | 90 | 74 | 77 | 3 | 0.6 |
| SLRC073 | RC | 447268 | 6758758 | 407 | 124 | -60 | 90 |
Page 23