Matsa?s Quarterly Report for the quarter ended 30th June 2016 HIGHLIGHTS Siam Copper Project Thailand ? Drilling to test IP anomaly 3, intersected trace finely disseminated native copper mineralisation in andesite lavas, from 53m to its current depth of 83m Paisali Base Metal Project Thailand ? Auger soil samples define ~1km x 1.8km copper anomaly at Chang 1 with copper values up to 0.11% Cu ? Chang 1 thought to be a copper mineralised hydrothermal system (copper rich porphyry or skarn) at shallow depth based on zoned geochemical anomaly, sparse outcrops of altered diorite and complex underlying magnetic anomaly. ? All statutory clearances obtained to enable IP to commence at Chang 1 as soon as practical to define targets for drilling Killaloe Project WA ? Geological mapping of HWG Ni sulphide prospect has highlighted position of previously untested, basal contact of the komatiite sequence which is prospective for Ni sulphide mineralization ? Recent high grade gold intercepts by S2 Resources in their Polar Bear gold project define a highly prospective structural/stratigraphic corridor which extends onto Killaloe for ~20 km ? The extension to the Polar Bear corridor at Killaloe contains soil gold anomalies and historic drill intercepts (eg 1m @ 9 g/t Au) which highlights prospectivity for new gold discoveries Dunnsville ? RC drilling commenced at Big Red focused on magnetic and structural targets below the depth of previous drilling with 7 of the planned 10 holes completed to date ? A number of visually interesting zones of fracturing, quartz veining and pyrite dissemination were observed across a steeply dipping contact between dolerite and meta-basalt Corporate ? Matsa currently holds cash, receivables and liquid assets of approximately $9M Lake Carey Project ? Acquisition of 100% of the Lake Carey gold project ? The project includes a gold resource of 6.289Mt @ 1.9g/t for 385,300oz (JORC 2004) in the Fortitude deposit with strong exploration upside potential ? Due diligence demonstrates near term production potential and an excellent return on investment ? Matsa?s intention is to develop and mine the Fortitude deposit utilising a local third party processing facility Killaloe Project WA ? IP surveys in progress within and close to a ~20km extension of the corridor defined by recent gold discoveries at the nearby S2 Resources Ltd?s (ASX: S2R) Polar Bear project, NW of Killaloe ? High priority IP anomalies defined at Duke, Windy Hill and Shinboner prospects where historic drill intercepts >1g/t Au are located in a background of highly anomalous gold in soil ? Targets being defined for immediate drilling Paisali Base Metal Project Thailand ? IP surveys completed at Chang1 over ~1km x 1.8km soil copper anomaly ? 4 survey lines completed to date have defined an IP anomaly at shallow depth which coincides with the soil copper anomaly ? IP results confirm potential for disseminated sulphides in copper mineralised hydrothermal system (copper rich porphyry or skarn) Drilling programmes delayed by weather ? Drilling at the Mt Day, Mt Weld and Killaloe projects have been delayed during the quarter because of unusually heavy rainfall. These programmes will commence when weather permits Corporate ? Cash and liquid investments at the date of this report is in excess of $13M, including the Bulletin in-specie distribution which delivered 24M Pantoro shares worth $3.6M at time of distribution To read the quarterly please click here For further information contact: Paul Poli, Executive Chairman +61 8 9230 3555
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