Eastport subsidiary, Matsitama Minerals (Pty) Ltd, holds 100% of six prospecting licences that cover 1,668 km2 prospective for copper mineralisation. The licences were renewed for a further two years in January 2022 and are free of any royalty payments.
The six licences cover the majority of the Palaeo-Proterozoic Matsitama Schist Belt, a predominantly clastic sedimentary suite of rocks with minor mafic to ultramafic volcanic intrusives. Mineralisation is copper, lead, and zinc when located in major fault zones, and copper sulphide when found within the schistose rocks. Past and present mining operations within the belt have exploited both styles of mineralisation.
Over the ensuing years, the exploration programme at Matsitama will be dominated by drilling, targeting both styles of mineralisation. Early application of self-organizing maps (SOM) has identified a new large area of favourable alteration that suggests an unexplored area of copper pyrite (Cu-Py) mineralisation stratigraphically below the Thakadu deposit.
By way of background, Eastport entered into an option to acquire 100% of Matsitama Minerals (Pty) Ltd in January 2020. Upon completion of 18-months of significant due diligence, in mid-2022 Eastport Ventures proceeded to complete the acquisition of Matsitama Minerals (Pty) Ltd.
Airborne Spectrem EM Survey
Eastport has acquired a strategic controlling interest over the bulk of the highly prospective Matsitama Schist Belt, a predominantly clastic sedimentary suite of rocks with minor mafic to ultramafic volcanic intrusives. Mineralisation is copper-lead-zinc (Cu-Pb-Zn) when located in major fault zones, and copper sulphide when found within the schistose rocks.
The image to the right shows conductivity at – 225 metres below surface. Red is representative of “hot” conductivity, whilst “blue” is not. Patterns and conductive levels will aid the geological interpretation and drill targeting. The black lines show the licence perimeters, whilst the small white block is the Thakadu Mine, to which Eastport has no claim. The small black dots are drill holes.