Matrix Metals | Copper Production and Exploration

Matrix Metals Limited (Matrix) is pleased to announce the acquisition of 100% of Mining Lease Application (MLA) 90135 known as "Mt Watson". The MLA was purchased for a total cost of $12,500.

The MLA is located within hauling distance of the Mt Cuthbert SX-EW processing facility and fills a strategic gap that existed in a larger exploration permit owned by Matrix.

Geological interpretations of the MLA have revealed a potentially large high grade copper oxide deposit which is expected to be well suited to heap leach processing. Surface geological work by third parties has identified the copper oxide body outcropping at intervals through soil cover over a strike length in excess of 1 km. Exposed width of mineralisation range upwards to 20 metres.

The MLA is located within the Kalkadoon / Leichardt belt of the Mt Isa Inlier. The mineralised zone occurs along a strongly developed east west trending shallow zone which is intersected by a number of oblique (north east trending) mineralised faults. Preliminary mapping has predicted the possibility of parallel mineralised structures.

Matrix will proceed immediately with a geological evaluation of the MLA with an initial drilling program scheduled within the next 3 months.

Yours faithfully

Andrew Chapman
Chief Executive Officer