Red Dog

Red Dog Project

 

Matsa considers the 100% owned Red Dog project has the potential to be a near term mining opportunity with Matsa’s Fortitude mine infrastructure only 25km to the east and the Red October camp and accommodation infrastructure including haul roads only 20km to the north.

 

The Red Dog Mineral Resource estimate totals 368,000 tonnes at 2.2g/t Au for 26,300oz. gold with the majority of ounces (94%) in the Indicated Category (Table 1).

 

Results from RC drilling carried out during the December 2017 quarter defined gold mineralisation commencing 2m to 10m below surface, relatively flat lying and is a continuous zone of mineralisation between 1m and 14m thick extending over an area ~250m NS and ~150m EW. Mineralisation remains open in several directions. Gold mineralisation is associated with silica, hematite and pyrite within a hydrothermally altered basalt.

 

Red Dog is nearing completion of feasibility studies. All regulatory approvals have been received and discussions to process the ore are expected to be finalised shortly. The process of tendering for mining works is well underway with mining targeted to commence in the 2nd half of 2018. Mining is expected to be completed within 15 weeks from commencement.

Table 1 Red Dog Mineral Resource as at January 2018 – reported above an Au cut-off grade of 0.5g/t Au

 

Figure 1 Red Dog Leases

 

 

 

 

 

 

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