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matsa resources ltd (MAT) Snapshot

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matsa resources ltd (MAT) Details

Matsa Resources Limited, together with its subsidiaries, explores for and develops mineral properties in Australia and Thailand. It primarily explores for gold and other base metals, including nickel, copper, and iron ore. The company is headquartered in Perth, Australia.

9 Employees
Last Reported Date: 09/29/13

matsa resources ltd (MAT) Top Compensated Officers

Executive Chairman and Chief Executive Office...
Total Annual Compensation: A$633.5K
Chief Financial Officer, Secretary and Direct...
Total Annual Compensation: A$115.8K
Exploration Manager
Total Annual Compensation: A$212.9K
Compensation as of Fiscal Year 2013.

matsa resources ltd (MAT) Key Developments

Matsa Resources Limited Provides Drilling Update

Matsa Resources Limited reported 3.8m of disseminated sulphides, chalcopyrite/pyrite mineralisation intersected from 454m downhole (SHDD006 at VA11); Sulphides in the host rocks are significant as the presence of a sulphide phase in the melt is a prerequisite for formation of a magmatic Ni-Cu ore body; This sulphide discovery at VA11 coupled with highly anomalous Ni assays up to 0.36% Ni in RC drilling reinforces the very high prospectivity for the presence of significant Ni-Cu sulphide mineralisation at Symons Hill; Assay results received from approximately 80% of RC samples include highly anomalous Ni values over broad intervals in ultramafic granulites at SHG02 and SHG03, SHG10 and SHG11; Very high powered EM survey being planned to explore below 400m depth to identify deep previously undetected massive sulphide-type conductors as possible Ni-Cu sulphide targets; Diamond drilling recommences at HWG prospect; Komatiite hosted disseminated sulphides for a best intercept of 1.35m at 0.54% Ni were intersected from 93.35m, in diamond drillhole 14KLDH01; Additional narrow nickel rich semi-massive sulphides (0.2m at 137.5m and 0.05m at 145m) intersected in underlying metabasalt; Based on preliminary inspection, Ni mineralisation occurs as sulphides, (most likely pentlandite) which occur together with disseminated and semi-massive pyrrhotite in ultramafic volcanics (komatiite); Downhole EM (DHEM) and surface Moving and Fixed Loop EM surveys have identified strong conductors which are interpreted to be associated with Ni mineralisation in KLDDH02; Broad gold and Ni geochemical anomalies identified by 882 hole auger programme at MinigwaI Project SE of Laverton.

Matsa Resources Limited Reports Consolidated Cash Flow Results for the Fourth Quarter and Year Ended June 30, 2014

Matsa Resources Limited reported consolidated cash flow results for the fourth quarter and year ended June 30, 2014. For the quarter, the company reported net operating cash outflows of AUD 1,456,000. Payment for purchases of other fixed assets was AUD 42,000. For the year, the company reported net operating cash outflows of AUD 3,882,000. Payment for purchases of other fixed assets was AUD 52,000.

Matsa Resources Limited Reports on Exploration and Corporate Activities for the Quarter Ended March 31, 2014

Matsa Resources Limited reported on its exploration and corporate activities for the quarter ended March 31, 2014. Exploration at Symons Hill during the current quarter has comprised: phase 3 Aircore Drilling Programme for a total of 495 drillholes and 17,264 metres. The drilling was carried out using a truck mounted MA150 rig set up for aircore drilling after a small test programme of 4 RAB drillholes. In summary the drilling programme comprised the following: 495 drillholes for 17,264 m of drilling completed, a total of 493 bottom of drillhole samples were assayed within a few days of drilling using a handheld XRF unit. This enabled real time revisions to be made to planning of infill and step out drilling, a total of 4,505 composite samples up to 4m in length were submitted for assay, with 3,203 assays received to date and a total of 495 bottom of drillhole samples submitted for comprehensive lithogeochemical suite assays. The Gloucester corridor underlies the strike extensive (>10km long) bedrock Ni anomaly between SHG04 and newly discovered SHG11. The ultramafic and mafic rocks identified by aircore and RC drilling in the corridor are interpreted to represent a distinctive stratabound unit which is highly prospective for Ni-Cu sulphide mineralisation. Further drilling and ground geophysical surveys are planned to test the Gloucester Corridor. FLTEM surveys at VA15 identified complex anomalous responses at a depth of around 300m. Because of the potential importance of this target given its proximity to high priority Ni target SHG02, it was decided to be included for MLTEM surveying in an attempt to provide a well-defined drill target. A high powered moving loop EM (MLTEM) survey is currently in progress to better define a potential deep conductor interpreted from the FLTEM survey over VTEM Target VA15. This interpreted conductor is located on a strong gravity gradient, immediately adjacent to strongly enriched Ni values in weathered olivine metagabbro at SHG02. As recently announced, preliminary results to date appear to support the presence of complex anomalous responses at a depth of around 300m. The presence of near surface chargeable and low resistivity responses at SHG02 as detected by 2DIP surveying appears to be an important complicating factor as previously announced.


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