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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-10-2019: Matador Mining Ltd. announces an Exploration/Drilling Update report for its Cape Ray deposit at the Cape Ray project. Drilling results incl. 15.9m @ 3.1g/t Au from 148.2m. Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is | |
| Resources: | (Resource, I+I): 14.25Mt @ 2.2g/t Au for 1.02Moz Au contained | |
| CP/QP: | [Overall Report]: Neil Inwood (Independent) | |
| ABSTRACT: | Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is pleased to provide an update regarding the ongoing exploration program at its Cape Ray Gold Project (“Cape Ray” or the “Project”) in Newfoundland, Canada. As part of the second stage of the exploration program, drilling has targeted shallow resource extensions around the existing deposits. A key area identified for drill testing was the PW deposit, located at the southern extension of Central Zone (Image 1). Hole CRD052 was the second hole drilled at PW and intercepted 16m @ 3.1g/t Au (including 4m at 10.7g/t Au) from 148.2m. This is the most significant intercept at the PW deposit to date and is located outside the current resource boundary and is expected to expand the PW resource in both size and grade. Unlike other deposits at Central Zone, which are typically characterised by high-grade mineralisation in graphitic schist, PW is hosted in a granite, which is interpreted to be the continuation of the Window Glass Hill granite complex. The PW deposit had historically received significantly less drilling than the other deposits in the area. Additional shallower drilling at PW, up-dip of this intercept, is planned during October (Image 2 – cross section). In addition to the reported holes, 20 additional holes are either at the assay lab or are onsite being processed. A further ~20 holes are still to be drilled to complete the 2019 program. | |
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