Matsa is an ASX listed gold and base metal explorer making the transition to gold producer following the exciting acquisition of the Fortitude / Lake Carey gold project.
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Matsa Resources has assembled a portfolio of highly prospective base and precious metals exploration tenements in Western Australia and Thailand.
The Company has had a significant boost in Thailand, with the recent granting of a large package of copper prospective licences, located over areas of significant copper geochemical anomalism within the highly prospective Loei-Luang Prabang Fold Belt. The belt is host to a number of major deposits including Phu Kham and Chatree – the Company is now commencing advanced exploration activities, including drilling, on these properties.
Ongoing work has returned results demonstrating the prospectivity of the Western Australian nickel projects, including Symons Range in the Fraser Zone, where the target is Nova-Bollinger style mineralisation and Killaloe, where Archaean komatiite-hosted mineralisation is the target. Although earlier stage, the Western Australian gold projects also have potential.
Given the above, and with ongoing news flow, we rate Matsa as a SPECULATIVE BUY, with price movers being positive exploration results.
Matsa Resources Limited is an Australian based diversified junior explorer focussing activities on base and precious metals, both in Thailand and Western Australia. The Company has a strategy of funding itself through the advancement of, and then selling, interests in projects.
In addition it has a direct equity interest in the Hall’s Creek Gold Project, located near Hall’s Creek in the Kimberley region of Western Australia, through its investment in Bulletin Resources Ltd. Hall’s Creek includes the Nicolson’s Mine, an underground operation, which commenced production of gold in September and is forecast to produce around 106,000oz of gold over a 4.5 year mine life.
Matsa Resources Limited (ASX: MAT, “Matsa” or “the Company”) has a diverse portfolio of tenements in Western Australia and Thailand, prospective for base and precious metals.
In Thailand the Company was granted in March this year a large block of its copper tenement applications, which is a noteworthy move given that this is first time in many years that such a large group of tenements has been granted at one time to any company.
These tenements are located over the highly prospective Loei-Luang Prabang Fold Belt in central Thailand, a belt that hosts world class deposits including Chatree and Phu Kham (in Laos) – the Company’s tenements are considered prospective for porphyry and skarn copper mineralisation.
This prospectivity is borne out by the results of Matsa’s work to date, including work carried out by the Department of Mineral Resources, Thailand (“DMR”). This work has outlined large areas of significant copper anomalism, including float and outcrop with visible copper mineralisation...
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Official website: http://www.matsa.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/MAT