PERTH (miningweekly.com) – Junior Matsa Resources has reported a 27% increase in the mineral resource at its Lake Carey gold project, in Western Australia.
The ASX-listed company on Thursday reported that Lake Carey is now estimated to host some 654 000 oz of gold, at 2.6 g/t gold.
The increase to the mineral resource estimate included an updated mineral resource for the Devon pit and the Olympic prospect, as well as a maiden resource for the Hill East and Gallant prospects.
“Following the fantastic results of our Devon pit scoping study last well, I’m very pleased with these latest results demonstrating significant mineral resource growth since last year,” said Matsa executive chairperson Paul Poli.
“What’s really exciting is that not only has the global mineral resource increased in quantum, it has also seen a modest increase in grade. During the next quarter, we will have more drilling and assay results coming in and I expect we’ll also make significant headway into a Red October mineral resource update on the back of last year’s excellent Lion Fish, Marlin and Dory drilling results.”
The recent scoping study into the Devon pit, at Lake Carey, proved that mining operations could be economically viable and that the Devon pit could deliver a potential cash surplus of A$40.7-million over an estimated mine life of 12 months, with the production of around 37 000 oz of gold.