Overview
| Status | Temporary Suspension |
| Mine Type | Underground |
| Commodities |
|
| Mining Method |
- Airleg stoping
- Longhole open stoping
|
| Production Start | ...  |
Subsequent to the end of the 2021 financial year, Matsa has opted to suspend production at Red October having recognised that a substantive exploration and resource drill out effort is required to optimise the future development of the mine. Targets such as the new eastern and western targets generated from the new recent seismic work, have the capacity to substantially alter the layout of the mine including future requirements of the major infrastructure setting.
It is expected a 12 to 18 month period will be required to reset the Red October mine and establish a robust long term mine plan before production operations resume. |
Source:
p. 95,120
| Company | Interest | Ownership |
|
Matsa Resources Ltd.
|
100 %
|
Indirect
|
|
Red October Gold Pty Ltd.
(operator)
|
100 %
|
Direct
|
Matsa Resources Limited through its wholly owned subsidiary Red October Gold Pty Ltd hold 100% Red October mine.
December 20, 2021 - Matsa Resources Limited is pleased to announce that it has entered into a Sale and Purchase Agreement (“SPA”) with Linden Gold Pty Ltd (“LGL”) to sell its Red October and Devon gold projects to LGL for a consideration of $20M.
Contractors
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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
- Airleg stoping
- Longhole open stoping
Summary:
Current mining methods employed at Red October utilize both air legging and long hole production rigs and is determined by ore body dimensions.
Source:
Summary:
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Production:
| Commodity | Units | 2021 | 2020 | 2019 | 2017 | 2016 |
|
Gold
|
oz
| ...... | ...... | ...... | 13,044 | 55,700 |
All production numbers are expressed as metal in ore.
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Operational Metrics:
| Metrics | 2021 | 2020 | 2019 | 2017 | 2016 |
|
Ore tonnes mined
| ...... | ...... | 831 t | 114,000 t | 340,000 t |
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Reserves at June 30, 2021:
Cut-off grade 2g/t Au
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Measured
|
71 kt
|
Gold
|
8.8 g/t
|
20 koz
|
|
Indicated
|
408 kt
|
Gold
|
5.1 g/t
|
67 koz
|
|
Inferred
|
406 kt
|
Gold
|
6.1 g/t
|
80 koz
|
Commodity Production Costs:
| | Commodity | Units | 2021 | 2020 |
|
Cash costs (sold)
|
Gold
|
AUD
|
......
|
|
|
All-in sustaining costs (sold)
|
Gold
|
AUD
|
......
|
......
|
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Mine Management:
| Job Title | Name | Profile | Ref. Date |
|
.......................
|
.......................
|
|
Dec 15, 2022
|
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Corporate Filings & Presentations:
- Subscription is required.
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