Matsa Resources Limited is pleased to report on results of recent exploration activities within the Company’s Siam Copper Project in central Thailand.
In particular this relates to a follow up sample and assay from a 10cm wide vein which confirms the very high grade copper and silver results in sample RK142.
The objective of exploration in the Siam Copper Project is to establish the presence of economic copper mineralisation within highly anomalous stream sediment catchments, particularly where past work by Matsa has already confirmed the presence of visible copper mineralised boulders at Siam 1 and Siam 2.
EXPLORATION UPDATE
Sample "S1W_Vein", comprising mostly chalcocite, malachite and azurite was collected from a 10cm wide vein exposed in the shallow ~50cm deep trench referred to in the previous announcement.
Sample S1W_vein returned values of 45% Cu and 123 g/t Ag, confirming that the vein is the likely source of float sample RK142.
The copper rich vein is located within a broader altered zone up to 1 metre wide and can be seen to be oriented in a NW direction and to dip steeply towards the NE.
Significance of this vein discovery
Implications for the recently discovered vein include the possibility that:
- The vein may be fault/fracture controlled leakage of copper and silver from a major copper sulphide deposit perhaps underlying the spread of native copper rich scree and anomalous soil geochemistry at Siam 1W.
- It may be only one of a more extensive suite of high grade copper rich veins.
Planned Exploration
It is planned to extend auger soil sampling, geological mapping and Induced Polarisation IP surveys over Siam1W, Siam1E and Siam1N to explore for the presence of copper sulphide mineralisation underlying or adjacent to these targets which are defined by visible copper mineralisation in float and by anomalous soil copper values.