Matsa Resources

Published : December 10th, 2015

Exploration Update at Symons Hill December 2015

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Keywords :   Australia | Copper | Diamond | K Street | Market |

Exploration Update at Symons Hill December 2015

714e6262-3eb5-48c4-849b-42e215e343df


Matsa Resources Limited


LIMITED

ABN 48 106 732 487


ASX Announcement 10th December 2015


Update on Diamond Drilling at Symons Hill

CORPORATE SUMMARY


Matsa wishes to advise that Diamond drilling activities at Symons Hill are ongoing with Diamond drillhole SHDD09 in progress at a depth of ~160m and planned to a depth of 650m. The drillhole is currently well above the interpreted position of the targeted EM conductor plate C11, which is at a downhole depth of 440m.

The geology intersected by SHDD09 to date is dominated by mafic granulites/gabbros. A 40cm section of up to 5% blebby disseminated sulphides including trace chalcopyrite (copper sulphide), was noted at around 77m downhole. Matsa believes that the geology intersected to date is encouraging for the presence of Nova style Ni-Cu mineralisation.

Boggy conditions caused by recent very heavy rains in the area have meant that drilling got off to a slow start.


For further Information please contact: Paul Poli

Executive Chairman


Phone +61 8 9230 3555

Fax +61 8 9227 0370

Email [email protected]

Web www.matsa.com.au

Executive Chairman

Paul Poli Director Frank Sibbel

Director & Company Secretary

Andrew Chapman

Shares on Issue

144.15 million

Unlisted Options

13.94 million @ $0.25 - $0.43

Top 20 shareholders

Hold 51.78%

Share Price on 9 December 2015

17.5 cents

Market Capitalisation

$25.94 million


Head Office: Suite 11, 139 Newcastle Street, Perth Western Australia 6000 Tel: +61 8 9230 3555 Fax: +61 8 9227 0370

Bangkok Office: Unit 1808, Pacific Place 2, 142 Sukhumvit Road, Klongtoey, Bangkok 10110 Tel: +66 0 2653 0258 Fax: +66 0 2653 0258 [email protected] www.matsa.com.au


Matsa Resources Limited


Exploration results

The information in this report that relates to Exploration results, is based on information compiled by David Fielding, who is a Fellow of the Australasian Institute of Mining and Metallurgy. David Fielding is a full time employee of Matsa Resources Limited. David Fielding has sufficient experience which is relevant to the style of mineralisation and the type of ore deposit under consideration and the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. David Fielding consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.


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Matsa Resources

EXPLORATION STAGE
CODE : MAT.AX
ISIN : AU000000KAL9
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Matsa is a gold exploration company based in Australia.

Matsa holds various exploration projects in Australia.

Its main exploration properties are BROAD ARROW, MOUNT VETTERS, CLINKER HILL, DUNNSVILLE, NORSEMAN, SIBERIA and GASCOYNE in Australia.

Matsa is listed in Australia. Its market capitalisation is AU$ 4.6 millions as of today (US$ 3.1 millions, € 2.8 millions).

Its stock quote reached its highest recent level on March 15, 2013 at AU$ 0.55, and its lowest recent point on November 26, 2023 at AU$ 0.02.

Matsa has 144 710 000 shares outstanding.

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