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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2019: Matador Mining Ltd. announces an Exploration/Drilling Update report for its Cape Ray deposit at the Cape Ray project. Drilling results incl. 16m @ 3.0g/t Au from 229m. Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is plea | |
| 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 announce results from the first three diamond drill holes completed as part of the current 12,000m exploration drill program at its Cape Ray Gold Project (“Cape Ray” or the “Project”) in Newfoundland, Canada. The most significant result was at hole CRD037 as this hole targeted and successfully intercepted a newly interpreted structural trend/plunge that had not previously been tested with drilling. This area is outside of the current resource at Central Zone (current resource - 810,000oz at 2.6g/t Au) 1. Hole CRD035 was drilled as a QAQC and geotechnical/metallurgical hole which although lifted, intercepted mineralisation similar to surrounding holes. The Company has currently completed eight holes for 2,620m. A total of 58 holes for 12,000m is planned during the 2019 exploration season. The five outstanding holes not reported are currently being processed, with results to be released in the coming weeks. Executive Director Keith Bowes commented: “This is a solid start to the exploration season as these results highlight the significant potential for continued resource growth at Central Zone, which is shaping up to be a potential high-grade open pit operation in the future. | |
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