AngloGold Ashanti has begun exploration drilling on Matsa Resources’ Lake Carey tenement, signalling strong interest in the region and setting the stage for 2026 exploration activities.
- AngloGold Ashanti starts RC and diamond drilling on M39/599 tenement
- Drilling extends from AngloGold’s adjoining tenement into Matsa’s land
- Activity confirms AngloGold Ashanti’s ongoing interest under $101M option deal
- Matsa awaits assay results that could influence future exploration plans
- Collaboration aims for smooth operational process between partners
Exploration Partnership in Action
In a significant development for Matsa Resources Limited, AngloGold Ashanti Australia Limited has commenced exploration drilling on Matsa’s M39/599 tenement, part of the Lake Carey Gold Project. This move follows the Tenement Option Agreement signed in February 2025, under which AngloGold Ashanti secured rights to explore Matsa’s tenements adjacent to their own holdings.
Drilling Program Details
The current drilling program combines reverse circulation (RC) and diamond drilling techniques, extending from AngloGold Ashanti’s adjoining tenement well into Matsa’s territory. This is a continuation of the exploration momentum from 2025, where AngloGold Ashanti completed drilling on their own tenement. The mixed drilling approach is designed to provide a comprehensive geological picture, increasing the chances of identifying economically viable gold deposits.
Strategic Implications for Matsa
Matsa Resources views the commencement of drilling as a strong endorsement of the value and potential of their tenements. The company is eagerly awaiting assay results from the initial holes, which will be critical in shaping AngloGold Ashanti’s exploration strategy for 2026. Positive results could accelerate further investment and development in the Lake Carey region, potentially unlocking significant shareholder value.
Collaborative Approach
To facilitate a smooth and efficient exploration process, Matsa has committed to working closely with AngloGold Ashanti. This cooperative stance not only strengthens the partnership but also ensures that operational hurdles are minimised, allowing for timely progress in the field. The collaboration underscores the strategic importance of the Lake Carey Gold Project to both companies.
Looking Ahead
While the drilling marks a promising step forward, the real test lies in the assay results. These will provide the first concrete indications of the tenement’s mineral potential and guide the next phase of exploration. Investors and market watchers will be keenly observing these developments, as they could signal a new chapter in Matsa’s growth story.
Bottom Line?
The first assay results will be pivotal in determining whether AngloGold Ashanti’s drilling translates into a new exploration breakthrough for Matsa.
Questions in the middle?
- What do the initial assay results reveal about gold mineralisation on M39/599?
- How might positive drilling outcomes influence AngloGold Ashanti’s 2026 exploration budget and plans?
- Could this partnership lead to a broader strategic alliance or joint venture beyond the current option agreement?