Matsa confirms Devon Pit MRE

Perth-based Matsa Resources has announced a maiden ore reserve estimate for the Devon Pit gold mine as its Lake Carey project.

The Paul Poli-chaired junior told the market that Devon Pit – which is mine-ready once approval receipts from the Department of Water and Environmental Regulation and Department of Energy Mines Industry Regulation and Safety have been received – had a MRE reserve of 309,000 tonnes @4.59 grams/tonne of gold for 46,000 ounces.

“We look forward to pushing ahead with completion of the final elements of the FS with a view to commencing mining as soon as we can,” Mr Poli said. 

“This is a great milestone for both Matsa and Devon and another step closer to getting mining underway at Devon.

“We are confident our discussions with mining contractors, processing operators and financiers are nearing completion and we expect to be on the ground at Devon in the first quarter of 2025.”

Matsa closed trade up 8 per cent to 4 cents.