Matsa?s Quarterly Report for the quarter ended 30th September 2016 HIGHLIGHTS Lake Carey Project ? All works and mine planning targeting commencement of mining at Fortitude in the new year are well advanced and on schedule ? The Fortitude mineral resource was upgraded, to fully comply with JORC 2012 guidelines, and confirms the previously announced resource estimate of 385,300 oz Au ? Further resource definition, metallurgical, hydrogeological and geotechnical drilling together with fauna and flora surveys commenced during the quarter and are almost complete with final results expected towards the end of the year ? Applications for statutory permits to enable mining operations to commence at Fortitude, are well advanced with approvals expected early in the new year ? Exploration programme on advanced targets including Bindah and Galant to commence shortly with POW?s granted Paisali Base Metal Project Thailand ? Diamond drilling of coincident soil copper and IP anomalism within a large complex magnetic feature, is well advanced with four of seven planned drill holes currently completed for 766m of drilling ? Potentially significant disseminated chalcopyrite mineralisation associated with magnetite and quartz carbonate veining was intersected in all drill holes ? Visible trace chalcopyrite observed in all holes including intersections over significant widths in excess of 100m e.g. 16SCDH03 Mt Day Nickel Project ? RC drilling intersected strongly enriched Ni values in deeply weathered ultramafic rocks with a best intercept of 44m @ 0.50% Ni, 0.02% Cu and 0.05% Co from 28m including 16m @ 0.85% Ni, 0.05% Cu and 0.08% Co ? Enriched Ni values occur in iron rich laterite containing fragments displaying textures suggestive of the presence of a sulphide source Mt Weld Gold Project ? RC drilling confirms continuity of gold mineralisation at depth at Wilga Bore prospect with a best intercept of 4m @ 0.94 g/t Au from 188m Corporate ? Cash and liquid investments as at 30th September was in excess of $11 million To read the quarterly please click here For further information contact: Paul Poli, Executive Chairman +61 8 9230 3555
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