Matsa Resources is working to develop and unlock its Paisali Iron Ore Project, which covers 793 km2 of Central Thailand.  Targets consist of a large number of strong magnetic anomalies which are mostly concealed under soil cover in an area of low lying agricultural land. Historic mining of magnetite for iron ore has been carried out on a small scale in the district and is estimated to have produced in exess of 130,000 tonnes of magnetite at a grade of approximately 60%Fe.  This is confirmed by Government drilling in the district which reported iron ssays between 58% and 62% Fe.

The exploration concept is that target magnetic anomalies represent semi massive to coarsely disseminated or vein style magnetite mineralisation.  Previous work in the district indicates strongly that the target magnetite skarns will be amenable to low cost beneficiation by a simple gravity and screening process to a high quality product acceptable to steelmakers in Thailand and elsewhere in Southeast Asia.

Exploration is in the early stages, and there is a high probability the multiple magnetite skarn deposits will be found. Matsa's Thailand team is currently carrying our detailed ground magnetic surveys over additional exploration prospects.. Drilling will commence when tenements are granted which is expected to occur in the first half of 2012. This is an exciting chapter in Matsa’s on-going strategy to develop a profitable iron ore business in Thailand.
Matsa is progressing surface exploration.