Matsa Resources has delivered its first ore from the Fortitude Gold Projects trial mine to the Sunrise Dam gold treatment plant owned by AngloGold Ashanti Australia (AGAA). In June 2017, Matsa announced that it had entered into an Ore Purchase agreement with AGAA whereby AGAA would purchase all the ore produced from the Fortitude Gold Project trial mine. Regular delivery of ore on a continuous basis will now be ongoing thereby realising a steady income stream for Matsa over the life of the trial mine. Currently some 9,000 t of ore are stockpiled at the Fortitude ROM awaiting delivery to AGAA.
- Gold ore meets or exceeds budgeted ore specifications in accordance with the Ore Purchase agreement
- Delivery signals first income expected mid-October
- Deliveries will now be continuous until completion of mining resulting in a steady income stream.
Matsa’s Lake Carey gold project includes the Fortitude gold deposit (385,300 oz, JORC 2012) of 102 km2 located in the prolific Laverton Tectonic Zone, 25 km southwest of Sunrise Dam, 60 km southwest of Granny Smith (Goldfields) and 12 km southwest of the Red October (Saracen).