MRX 0.00% 0.7¢ matrix metals limited

- Matrix Exploration Re-commences at Mt Watson

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    First bit of news for a while. Any comments from you Smoot - or are you still peeved at the raising?


    MATRIX METALS LIMITED 2002-08-20 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Matrix Metals Limited is pleased to announce that after a period of
    office based interpretation and analysis work, exploration activities
    at the Mt Watson site have recommenced today.

    Initial field activities will include mapping and soil sampling of
    the strike extension areas that have been identified around the
    existing Mt Watson resource, with the aim of firming up the targets
    for the next round of scout and resource definition drilling.
    Particular focus will be given to the new mineralised zone directly
    to the south of Mt Watson that was identified in the successful March
    2002 drilling program.

    Following this initial work, drilling at Mt Watson is programmed to
    commence following completion of the current Rights Issue.

    The initiation of this phase of the exploration program signifies the
    commencement of the concerted exploration effort to be undertaken by
    Matrix. Matrix is targeting to achieve a major increase in the
    Company's oxide copper resource inventory to facilitate a significant
    increase in the economies of scale at Mt Cuthbert.


    A Chapman
    CHIEF EXECUTIVE OFFICER

 
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