PERTH (miningweekly.com) – Junior gold producer Matsa Resources has inked a memorandum of understanding (MoU) with gold major AngloGold Ashanti over Matsa’s extensive Lake Carey gold project, in Western Australia.
The MoU would see the two companies negotiating technical data and infrastructure sharing, with AngloGold Ashanti also receiving first option, and endeavouring to treat all gold ore produced by Matsa within the MoU area, subject to the ore meeting technical requirements.
“This agreement represents a massive increase in potential and boost in credibility to Matsa’s Fortitude, Red October and Red Dog mines within the stated area of interest,” said Matsa executive chairperson Paul Poli.
“Matsa and AngloGold Ashanti have developed a strong working relationship with each other and this MoU strengthens that relationship to help identify and develop new gold deposits to both party’s benefit.”
Poli said on Wednesday that the cooperation would allow Matsa access to facilities and knowledge that has been developed by AngloGold Ashanti over several years. The access was expected to strengthen and increase Matsa’s ability to grow its gold ore resource, which, in turn, could assist AngloGold Ashanti to gain additional ore feed for its Sunrise Dam treatment plant.