Red October Resource and Mining Potential
In parallel with the recent drilling program Matsa is completing further work on the existing JORC 2012 resource base to define a 'mineable' resource based on a set of minimum mining design criteria. Matsa has previously reported a JORC compliant mineral resource of 96koz for
In order to optimise the potential of the resource, Matsa completed a preliminary assessment of a potential mineable inventory using a 2g/t Au cut-off which could provide the Company with a pathway to developing a long-term mine plan underpinned by resource and exploration focus points for further drilling.
Key results from this review indicates
A Measured, Indicated & Inferred Resource (MI&I) of 173koz using a 2g/t Au resource cut-off offers an initial resource base
Additional potential of 143koz defined by sparse drilling has been identified that requires further drilling to establish a JORC compliant resource2
Between 200koz and 240koz in MSO3 potential that could form the basis of a long-term mine plan (note the results of MSO work is yet to undergo detailed mine designs, economic evaluation and scheduling to establish a Mine Plan and requires further drilling which may or may not lead to a revision to the Company's Mineral Resource).
Contact:
Tel: 08 9230 3555
Email: reception@matsa.com.au
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