Matsa holds a number of Special Prospecting Licence Applications (SPLAs) in Thailand’s mineral rich geological provinces which are prospective for lithium and base metals. The company arguably holds one of the largest landholdings for lithium and copper exploration in south east Asia with unrivalled land packages that includes:
- 1,160km2 where Matsa has made lithium (lepidolite) discoveries at Kanchanaburi and Phang Nga, as well as polylithionite discoveries at Kanchanaburi and Ratchaburi, in Thailand’s western granite belt; and
- 584km2 holding a number of advanced and early stage base metals projects centered on the regionally extensive Loei Fold Belt (LFB) of central Thailand, which hosts Kingsgate’s Chatree Gold Mine, Phu Lon Copper-gold mine in northern Thailand, and PanAust’s Phu Kham copper-gold mine in Laos
In March 2023, Yongxing Special Materials Co. Ltd successfully extracted lithium from Matsa’s Pink Panther and Rose Panther samples at their commercial lepidolite mining operation and processing facilities, located in the Jiangxi province of southern China.
Matsa has a fully functional office, staff and skills in the country and is well positioned to actively grow its portfolio.
Matsa Thailand Projects
At Phang Nga Matsa has identified lithium targets through stream sediment sampling programs which has lead to the discovery of Rose Panther (SPLA 10/2565) and a large lithium in soil anomaly of some 800m x 1000m (SPLA 18/2565). The company is now progressing a number of tenements to grant of Special Prospecting Leases (SPL) so that exploration drilling can be undertaken.
Whole rock sampling assay results from Rose Panther (Phang Nga province) returned an average Li2O result above 2% lithium oxide, which is considered an excellent result for whole rock sampling and assay and could be exploited as a DSO product. Some detailed mineralogical assessment is still underway to fully characterise the mineral suite associated with the Rose Panther prospect
The Kanchanaburi (Pink Panther and Black Panther) project is characterised by widespread occurrences of both coarse grained lepidolite and polylithionite pegmatitic outcrop and float. Here too, the company is progressing applications to obtain granted SPL and conduct initial exploration drilling.
In Ratchaburi (Spotted Panther) Matsa has identified fine grained polylithionite bearing pegmatites. The lithium mica polylithionite has been confirmed via XRD work by Thailand’s Department of Mineral Resources on Matsa samples.
Recently testwork (March 2023) by Yongxing Special Materials Co., Ltd, on Matsa’s lepidolite samples from western Thailand showed the samples achieved excellent lithium recoveries at above 95%. Discussions regarding potential ongoing arrangements and cooperative exploration and development of Matsa’s Thailand lithium project continue with both Yongxing and other parties.
Matsa also has a number of SPLAs that are prospective for gold and base metals, in particular copper and lead.
Thali High Grade Silver-Lead Project
Matsa has 5 SPLAs for 73km2 in the Loei province to explore for base and precious metals, which includes the Thali prospect where high grade silver-lead veins were identified in 2015 by Venture Minerals Ltd (ASX: VMS).
Exploration by VMS at Thali, discovered a number of strong silver in soil anomalies defined by values exceeding 0.3 g/t Ag with individual anomalies >2km long and with surface rock grab samples up to 1860g/t Ag and 27% Pb. Mineralisation, which is poorly exposed, appears to be related to stockwork veins in strongly altered granite and limestone. Induced Polarisation (IP) surveys carried out by VMS at Thali during early 2018, returned a number of targets associated with key soil anomalies.
Chang Copper Project
At the Chang 1 copper project, Matsa has previously identified a copper mineralised diorite intrusion, under shallow transported cover with minimal outcrop. The surface expression of mineralisation is a soil copper geochemical anomaly 1.8km x 1.2km in extent. Past geophysical (IP) surveys conducted by Matsa confirm the size and distribution of the soil anomaly and highlight additional targets yet to be explored mineralised system.
At the Siam Copper project, previous follow up of stream sediment copper anomalism led to discovery of a number of areas of significant copper anomalism with initial follow-up focused on two targets, namely Siam 1 and Siam 2.
Siam 1 comprises a ~20km2 stream sediment anomaly in an area of mostly soil cover containing scattered boulders of altered basalt containing disseminated native copper mineralisation. Initial follow up led to discovery of a discordant NW trending sulphide vein dominated by chalcocite which returned an assay of 54.7% Cu and 148 g/t Ag. Soil sampling and a ground IP survey were carried out to define targets for drilling.
Matsa completed a total of 11 diamond drill holes which returned a number of broad intersections of anomalous copper (eg 22m @ 0.55% Cu) and demonstrates the potential size of the mineralised zone. Matsa discontinued exploration prior to completing drilling to await legislative changes to allow access to key drill areas.
Siam 2 is located 15km W of Siam 1 and comprises 4 main targets within a 9km long copper anomaly in an area of poorly outcropping andesite volcanics and limestone. The highest priority Siam 2N target has been defined as two discrete high grade skarn copper targets up to 500m wide along the contact between a diorite intrusive and limestone, with soil values up to 0.25% Cu and rock chip values to 2.1% Cu. The anomalous copper is associated with a strong magnetic anomaly which taken together with the presence of garnet, magnetite and secondary copper minerals in rock chip samples is interpreted as a mineralised skarn deposit. No drilling has occurred yet pending legislation changes to allow access.