Matsa Resource's flagship Norseman Gold Project covers 347km2 of the southern Norseman-Wiluna Greenstone belt in Western Australia with a total (JORC - indicated and inferred) resource of 26.5 Mt at 1.7g/t for 1.47 million ounces of gold.

The majority of the Project's resources are within the Mt Henry and Selene deposits.
As of July 2011, Matsa has received expressions of interest from three potential Chinese investors who are undertaking due diligence and are interested in partnering with Matsa to fast track development.
Discussions are continuing with a number of other potential investors.
Matsa also secured up to AUD$8.6 million funding from a US-based institutional investment fund to provide additional Norseman Gold Project working capital, if required.
Matsa is committed to creating shareholder wealth through minimising issuance of new shares and creating positive cash-flow from long term, sustainable mining and exploration.

In April 2008, a large project scoping study reported a robust return from a 1.8million tonnes per annum open pit operation, producing approximately 100,000 ounces per year over ten years at today's gold price.

Recent Exploration Results
 
Matsa remains committed to discovering additional gold resources within the greater Norseman area with potential to positively impact the economics of the Norseman Project.  The following activities were carried out recently:

Abbotshall South Soil Gold Anomalies:  

During 2011 Matsa completed a scout soil sampling program along strike of the old Abbotshall Mine.  This program was designed to take advantage of modern low detection limit assaying techniques that were not available when previous work was carried out.                                   
Matsa discovered 3 priority target zones directly along strike of known mineralisation at the Abbotshall Mine in a favorable lithological and structural location.  Matsa is currently undertaking infill soil sampling that will be used to better define the targets prior to drilling.

                                                                         Figure 1 Abbotshall South Geochemical Targets

Killaloe

In 2011 Matsa farmed-in to the 141km2 Killaloe Project east of Norseman.  An analysis of previous work has identified a number of gold targets, 6 of which have been identified as priority targets.  Matsa has commenced infill soil and MMI sampling to better rank and define the targets for drilling.

Recent MMI results from the Cashel prospect has identified 2 NW trending gold anomalous zones.  Matsa is still awaiting the results of a further 222 soil samples taken over Duke, Cashel Fault and Target 29 prospects.                                                                                                                  Figure 2 Killaloe Project showing priority 1 targets.