our projects
Broad Arrow Gold Project
Matsa owns 100% of the Broad Arrow project, which is centred 38km north of Kalgoorlie and 4km east of the historic gold mining centre of Broad Arrow. The contiguous tenements have an area of 53km2 and are comprised of forty two Prospecting Licenses and four Mining Leases lying along the eastern margin of the Bardoc Tectonic Zone (BTZ) and into the adjacent Scotia-Kanowna Dome monzogranite to the east.
The adjacent Norton Goldfields Limited owned “Golden Cities” project to the north-east within the Scotia-Kanowna Dome comprises a cluster of at least four prospects and resources spread over an area of 20km2 containing supergene laterite hosted mineralisation and primary structurally controlled gold mineralisation in the granite reported to contain over 650,000 ounces.
The area has become a major gold province in a geological setting not previously thought of as having high prospectivity. Previous exploration within the tenure includes regional mapping, surface geochemical sampling and RAB and RC drilling. Drilling within the Broad Arrow project has delineated seven targets.
The project has potential for conventional gold and nickel deposits within the area, as well as previously untested palaeo-channel gold deposits. This style of gold, in ancient river-channels, has been highly profitable for Kalgoorlie miners at the adjacent Lady Bountiful and Mount Pleasant mining centres (approximately 1.25 million ounces). Such deposits are typically difficult to locate and are high grade.
The Company believes that a two-fold exploration strategy can quickly define smaller shallow gold deposits suitable for treatment at the adjacent 3 million tonnes per annum Paddington gold plant, as well as locate potentially substantial resources of palaeochannel and bedrock gold mineralisation.
Advanced Targets
London Prospect - Scotia-Kanowna Dome
A 2001 resource estimate (non-JORC) using the sectional polygonal method consists of a resource of 443,000 tonnes grading 1.9 g/t Au for 27,000 ounces. Lodes are interpreted as moderately north-east dipping (on section to N), within a NNW-NW striking envelope.
The resource estimate at London is based on a total of 34 RC drill holes and one diamond drill hole, and requires confirmatory check-drilling to calculate a JORC resource.
Six Boys
In 1988, following earlier RAB drilling of the Six Boys (Allen’s Find) prospect, BHP Minerals reported a polygonal sectional resource estimate of 23,000 tonnes at a grade of 2.1 g/t using a 1 g/t cut off. In 1993 MMC drilled seven RC holes with the highest grade being 4.8 g/t Au over 2m.
The Six Boys mineralisation occurs in two sub-parallel east west shear zones. In the northern zone mineralisation above 1 g/t Au is continuous over a strike length of 200m and remains open to the east. Drilling has generally been on 40m and 20m traverses. The southern zone has been drilled over a strike of some 300m but holes are generally limited to one per 40m section.
Significant intersections include:
| Hole | From | To | Interval | Au (g/t) |
|---|---|---|---|---|
| ALOH024 | 3 | 6 | 3m | 11.40 |
| RAF020 | 16 | 28 | 12m | 2.31 |
| RAF023 | 18 | 22 | 4m | 3.05 |
| RAF027 | 49 | 52 | 3m | 3.95 |
| RAF016 | 47 | 48 | 1m | 4.26 |
Planned Exploration
Matsa is undertaking a thorough geological review of the extensive drill and other geochemical data and has complemented this with purchase of aerial photographic and geophysical imagery to help define palaeochannel targets. The Company has defined five bedrock targets and five palaeochannel targets. The targets will be tested with RAB and Air-core drilling and resultant mineralisation will be RC drilled to define resources and reserves. A number of operating processing plants are within easy trucking distance, and would be approached for gold production from any reserves.