Overview

Mine Type	Underground
Status	Care and Maintenance
Commodities	Gold
Mining Method	Longhole open stoping Airleg stoping
Production Start	...
Snapshot	The Red October mine is under care and maintenance since 2021. Whilst the mine is currently in care and maintenance, Matsa Resources Ltd. is evaluating a potential whole of mine approach to exploration, development and production options. As of June 30, 2023, work on a mining shape optimiser (MSO) based approach to developing a mineable inventory at Red October continues. Modelling of the Costello prospect at Red October was completed adding 45koz to the Red October mineral resources inventory. The newly modelled Costello lode (along strike of the Red October (Shear Zone)) will be included in the review process. Matsa Resources is continuing to evaluate all viable options for the Red October Gold Project including ongoing discussions with multiple parties on a separate deal for the project. At 30 June 2023, the Red October Gold Project continues to be classified as asset held for sale in accordance with AASB 5.

Deposit type

• Vein / narrow vein
• Breccia pipe / Stockwork

Summary:

Red October gold mine is situated within an Archaean greenstone belt of the Laverton Tectonic Zone. The stratigraphic sequence consists of footwall tholeiitic basalts, mineralised shale (containing ductile textures defined by pyrite mineralisation) and a hangingwall dominated by ultramafic flows interbedded with high-Mg basalts. Prehnite pumpellyite facies are evident within both the tholeiitic basalts and komatiite flows. Sulphide mineralisation is hypothesised to have been caused from interaction with an auriferous quartz vein, which has caused the intense pyrite-defined ductile textures of the shale in the upper levels. The fluid is believed to have been sourced from the intruding granitoid to the south of the deposit.

Mineralization at Red October occurs over 900m along strike and to a depth of 700m. Mineralization is hosted in vertical quartz breccia zones as well as where they intersect the primary host of graphitic black shales sitting on a Mafic/ultramafic contact. Inside the primary ore zone ore is seen as nuggetty visible gold and moving away from these zones mineralization is patchy with continuity along strike of between 5-20m and sub mineralization outside zones of silica flooding/brecciation.

Mining Methods

- subscription is required.

Comminution

Crushers and Mills

Processing

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Production

Commodity	Units	2021	2020	2019	2017	2016
Gold	oz	....	....	48	13,044	55,700

Operational metrics

Metrics	2021	2020	2019	2017	2016
Ore tonnes mined	....	....	831 t	114,000 t	340,000 t

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Sep 19, 2023