Lake Carey

Lake Carey

Lake Carey Gold Project

Recently acquired project includes the Fortitude gold deposit (385,300 oz, JORC 2012) 102km2 located in the prolific Laverton Tectonic Zone (LTZ) 25km SW of Sunrise Dam (AGA), 60km SW of Granny Smith (Goldfields) and 12km SW of the Red October (Saracen).

Lake Carey Project Location
Lake Carey Project Location

 

Fortitude Gold Resource (JORC 2012)
Fortitude Gold Resource (JORC 2012)

Fortitude Gold Resource (JORC 2012)

Near Term Production Potential

  • Excellent existing haul roads and nearby processing facilities
  • Strong exploration upside potential, near world class deposits
  • Granted mining licences
  • Extensive database and mining information providing a fast track to final feasibility and production
  • Purchase consideration and mine development costs can be funded from Matsa’s existing cash and liquid assets
  • Considerable scope for regional exploration success adding to the project life

Development Scenario

  • Local third party processing facility (preliminary discussions have already commenced and indicative offers received)
  • Move as quickly as possible to take advantage of the current high gold prices
  • Studies and development capital to be funded from existing cash and liquid reserves

Geology

There are existing Mineral Resources (JORC2012) located at Fortitude totalling 6.289Mt @ 1.9g/t for 385,300oz

Exploration Potential
Exploration Potential

Exploration potential is considered excellent with walk up targets at Bindah and Galant which could increase short term production potential. Regionally, Matsa plans to target the extents of the Fortitude and Bindah Shears using modern geophysical techniques and drilling.

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