Matsa Resources (ASX:MAT) hit high-grade gold mineralization from a recent drill program conducted at the Lake Carey gold project in Western Australia, the miner said on Thursday.
The program yielded 22.4 meters at 9.19 grams per tonne grade of gold from 329 meters, including 7.20 meters at 12.98g/t gold from 345 meters.
This result confirms a second lode structure is present about 120 meters below the mineralization defined by the 2023 drilling program, the filing added.
Shares rose 21% in recent trade to reach its highest since early 2022.
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