Matsa Resources (ASX:MAT) said that AngloGold Ashanti Australia has commenced exploration drilling on the M39/599 tenement.
The move triggers the next phase of the tenement option agreement established in February 2025.
The program utilises a strategic combination of reverse circulation and diamond drilling, effectively extending exploration from AngloGold's neighbouring sites directly into Matsa's territory.
The drilling serves as a continuation of AngloGold's 2025 exploration efforts and is seen by Matsa as a strong vote of confidence in the area's mineral potential.
Both companies are now awaiting initial assay results, which will be instrumental in defining the scope and scale of exploration activities throughout 2026.
Matsa has committed to working closely with AngloGold Ashanti to ensure the technical and operational success of the venture.
At the time of reporting, Matsa Resources' share price was $0.12.