Matsa Resources Limited announced it has received excellent results from the first two holes of nine completed holes as part of a 19 hole 3,310m RC drilling program at Fortitude North, Lake Carey. Results are awaited for seven holes. The results include: 26m at 3.22g/t Au from 147m (23FNRC006) incl.

5m at 5.63g/t from 158m and 5m at 4.52g/t from 165m; 11m at 4.20g/t Au from 130m (23FNRC007) incl. 6m at 6.05g/t from 134m; 6m at 2.10 g/t Au from 148m (23FNRC007). The results are reported from the first two drill holes on the northern most section of this program and show that the primary mineralisation continues and is open towards the north.

The mineralisation is shear zone hosted and associated with laminated quartz veining, albite alteration and pyrite with minor arsenopyrite sulphides. Similar geological setting and mineralising style has been observed at the company's Fortitude Gold Project some 6km south, where trial open pit mining has taken place. This focussed RC drilling program of an initial 3,310m is aimed at providing sufficient drilling coverage to establish a maiden resource over the northern portion of the prospect which represents only one third of the identified 1.6km strike extent of Fortitude North.

The company is awaiting results from a further seven holes, with ten holes still remaining to be drilled in this program. Drilling is planned to re-commence in February/March following a swap out of the drilling rig. The program will likely be modified to take advantage of these excellent initial results.

To date Fortitude North has a strike extent of at least 1.6km and previous drilling result include: 9.4m at 3.27g/t Au from 120.8m (22FNDD009); 8.0m at 2.94g/t Au from 106.3m (19FNDD001); 26m at 1.95g/t Au from 58m (18FNAC36); 5.0m at 5.46g/t Au from 79m (18FNRC03); 4.0m at 13.63g/t Au from 79m (20FNDD002); 4.6m at 5.15g/t Au from 183.4m (20FNDD005).