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To: LoneClone who wrote (113899)	9/29/2015 8:47:08 PM
From: LoneClone	Read Replies (1) \| Respond to of 194042

Matsa Resources finds Nova type nickel copper conductor for drilling Wednesday, September 23, 2015 by Proactive Investors proactiveinvestors.com.au Well-funded Matsa Resources ( ASX:MAT) has discovered a bedrock conductor C11 adjacent to bedrock nickel anomaly SHG10 which may represent a Nova type nickel-copper sulphide mineralisation. The new conductor (named C11) was detected from an ongoing high power fixed loop EM (HPFLEM) survey at the company's wholly-owned Symons Hill project in the Fraser Range of Western Australia. Conductors C11 and VA15 have been prioritised for diamond drilling. The project is located within the Fraser Range Tectonic zone, 6 kilometres SSW of Independence Group's (ASX: IGO) Nova-Bollinger nickel-copper mine. Matsa has already identified a total of four high priority conductive targets known as CT93, CT47, CT54 and VA15, where additional work will help to determine if these are bedrock conductors. Preliminary modelling indicates C11 to have low-moderate conductance and to be a sub-vertical to steep E/NE dipping body, with extents interpreted to be 500m x 500m at a depth of ~150-200m to the top of the conductor. The discovery was made using an ongoing high power fixed loop EM (HPFLEM) survey in the south-west part of the project adjacent to high priority bedrock nickel anomaly known as SHG10. Once the survey is completed it will likely define further conductive targets for drilling. Symons Hill located near Nova Matsa has been actively exploring the project since 2012 with aircore, reverse circulation and diamond drilling. This has confirmed the presence of nickel anomalous (0.2 – 0.3% nickel) olivine bearing gabbro at targets SHG02, SHG03 and SHG11, which exhibit near surface enrichment in the weathered profile of up to 1.3% nickel. Paul Poli, executive chairman, commented: “Although our Thailand Siam Copper project is getting a lot of attention lately and rightly so, the fact remains that we also remain committed to our Australian projects and the generation of this new interesting target verifies the appropriateness of that commitment. "We continue to rate our Symons Hill project highly and just because things seem quiet, it does not mean that we are not working hard and with hope. "The lesson to be learnt is that because of the size and extent of our exploration program, success could arrive at any moment for Matsa and us shareholders, and that patience is truly a virtue in the exploration game.” Matsa in Thailand In Thailand, the company recently revealed an outstanding assay of 54.7% copper and 148g/t silver from its Siam Copper Project. Also, a sample of in-situ material from a 10cm wide vein, returned an assay of 45% copper and 123g/t silver. Siam is greenfields, and has never been explored before, and is located around 250 kilometres north of Bangkok. Analysis Following on from today's newly identified bedrock conductor will be a diamond drilling program at Symons that is building in promise. Conductors C11 and VA15 have already been prioritised for drilling. Matsa has a number of price catalysts ahead including: Drilling at Symons Hill and testing new conductors as well as further exploration drilling in Thailand. Matsa is well-funded and holds circa $14 million in cash and liquid equities.