Matsa?s Quarterly Report for the quarter ended 30th September 2015 HIGHLIGHTS Symons Hill ? High power EM (HPFLEM) surveys are ongoing with 84 loops of the planned 97 loops now complete. ? HPFLEM survey has detected a moderate strength conductor C11 which coincides with the SHG10 bedrock Ni anomaly in the SW corner of the project. ? It is planned to drill conductor C11 and previously defined conductor VA15 during the December quarter. ? Follow up moving loop EM is proposed in the December quarter to better define 3 additional conductive targets (CT47, CT54 and CT93) for drilling. Siam Copper Project Thailand ? Prospecting and sampling identified a 10cm wide chalcocite vein which returned a maximum assay of 54.7% Cu and 148g/t Ag in the Siam 1W prospect. ? The vein may represent leakage from copper sulphide mineralisation underlying the 1-2km2 dispersion of native copper mineralised float at Siam 1W. ? Dipole-dipole IP survey commenced at Siam 1 prospect with 1 line completed so far. Results are being assessed to identify potential copper sulphide targets. Point Kidman Gold (MAT earning 80%) ? RAB Aircore drilling completed to test for the source of extensively dispersed gold nuggets and associated soil gold anomalies. Assays are pending. Mt Henry JV - Divestment ? Matsa received 6.6 million Metals X Limited (MLX) shares worth $8.1M, as consideration for the sale of its 30% share in the Mt Henry project. This sale delivered a strong boost to Matsa?s cash and liquid asset position. Corporate ? Matsa currently holds cash and liquid assets of approximately $12M. To read the quarterly please click here For further information contact: Paul Poli, Executive Chairman +61 8 9230 3555
|