Matsa Resources – Maiden Resource Estimation report for Red Dog. Author: Susan Havlin of Optiro

Here is the abstract for the Matsa Resources’ Maiden Resource Estimation for Red Dog. The CP/QP for the report is Susan Havlin – Senior Resource Geologist – Optiro.

Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to advise a JORC 2012 Code compliant mineral resource has been completed at its 100% owned Red Dog project, located 25km west of the Company’s Fortitude gold project where trial mining is underway. The Red Dog Mineral Resource estimate totals 368,000t at 2.2g/t for 26,300oz Au with the majority of ounces (94%) in the Indicated Category (Table 1 and Figure 1). The resource estimate is reported at a 0.5g.t Au lower cut-off and the estimate has not been constrained within a resource pit shell. This drilling along with historical RC data was used to generate the maiden Mineral Resource Estimate. The Mineral Resource was estimated by Optiro Ltd. A mineralisation wireframe was created at a cut-off grade of 0.5 g/t Au with a minimum thickness of 2 metres, based on mineralisation strings supplied by Matsa. The gold resource was estimated into a three-dimensional block model by ordinary kriging (OK) using dynamic anisotropy to account for the undulating nature of the ore body (Figure 2). The historical drillholes were composited to 1 metre downhole to eliminate any residuals. There was no requirement to composite the new drilling as all the samples were 1 m in length. Rotary air blast drill holes were removed prior to statistical and geostatistical analysis. Top cutting was required to reduce the influence of outlier values.

Susan Havlin’s contact details: TEL +61 (0)8 9215 0000  EMAIL  shavlin@snowdenoptiro.com