AngloGold Ashanti Drills 2km Gold Trend at Lake Carey

AngloGold Ashanti Uncovers Extensive Gold Mineralisation

AngloGold Ashanti has completed 41 drill holes totalling 11,355 metres on Matsa Resources’ tenement M39/599 at the Lake Carey Gold Project, revealing a substantial gold mineralised trend extending approximately 2 kilometres. Assay results from 34 holes show widespread gold intercepts, with 22 holes returning grades above 1 g/t Au and peak values reaching as high as 12.61 g/t. The drilling program, conducted under a $101 million Tenement Option Agreement, combines reverse circulation and diamond core techniques to provide a detailed picture of the mineralisation.

Multiple High-Grade Intercepts Highlight Potential Scale

The assay results include standout intercepts such as 14 metres at 3.13 g/t Au from 153 metres, including a 6-metre section grading 5.54 g/t Au, and multiple narrow but high-grade zones exceeding 8 g/t Au. Notably, several holes contain stacked lode intercepts, suggesting significant depth and structural complexity. The mineralisation is associated with quartz-sericite-carbonate breccias within a greenstone belt geological setting typical of the Eastern Goldfields region, known for hosting major gold deposits.

Geophysical Anomalies Coincide with Drilling

The mineralised trend aligns closely with regional-scale magnetic and gravity anomalies, reinforcing the geological interpretation of a significant gold system. AngloGold Ashanti’s drilling on adjacent tenements has also extended mineralisation along the boundary with Matsa’s tenement, hinting at a broader mineralised corridor. Drill holes are spaced approximately 100 metres apart on lines between 200 and 400 metres, providing a solid framework for future resource estimation.

Ongoing Collaboration and Next Steps

Matsa’s Executive Chairman Paul Poli emphasised AngloGold Ashanti’s thorough and serious approach to the project, noting the completion of geophysical, flora, fauna, and heritage surveys alongside the drilling campaign. The third and final option payment was recently received, marking a key milestone in the partnership. Further drilling and geophysical surveys are planned to test the open-ended mineralised trend and refine the understanding of the deposit’s geometry.

This drilling update follows AngloGold Ashanti’s recent payment of the final $1.65 million option fee under the agreement, bringing total option payments to $9.5 million to date and setting the stage for a decision on exercising the full $101 million option by December 2026.