Matsa Resources Limited announced that drilling has commenced at the Devon Pit at the Lake Carey Gold Project. The drilling is being managed by Linden Gold Alliance Limited (Linden) under the Joint Venture Agreement (JVA) with Matsa. The JVA is a 50/50 split joint venture, with production from the Devon Pit anticipated to commence in 2024. Under the terms of the JVA, Matsa is free carried on a non-recourse basis for all costs associated with permitting, The drilling will be used to finalise pit designs and complete a definitive feasibility study (DFS) for an open pit mine at the Devon Pit with completion of the DFS expected 31 August 2023. As a further note, Matsa is expecting to complete a 3,300m drilling program (commenced earlier in 2023) at Fortitude North once a track mounted rig becomes available. A suitable drilling rig is expected to be available late March/early April, with the remainder of the planned Fortitude North drilling program is expected to take approximately 4 weeks to complete. Assay results expected approximately 8 weeks thereafter.
financing, development and mining of the Devon Pit.