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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/19/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-11-2019: Matador Mining Ltd. announces an Exploration/Drilling Update report for its Cape Ray deposit at the Cape Ray project. Drilling results incl. 29m @ 1.9g/t Au. Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is pleased to pr | |
| 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”), located in Newfoundland, Canada. Executive Director Keith Bowes commented: “We are pleased with the continued drilling success at Window Glass Hill, as results give further encouragement that this is shaping up as a shallow, large tonnage deposit. With drilling having identified shallow resource extensions, mining at Window Glass Hill is expected to be simple and cost effective, providing support for Project development.” “In addition, up-dip drilling at the PW deposit in Central Zone has confirmed a higher grade section of this deposit and extended the previous 2.5km resource boundary at Central Zone. Given that both PW and Window Glass Hill are granites deposits, there is potential for these to join. There has been limited to no drilling between these deposits which are approximately 1km apart and this is a priority area for follow up work.” Window Glass Hill hosts an existing resource of 134,000oz Au grading 1.2g/t Au (ASX announcement 30th January 2019) and is located approximately 1km from form the PW deposit at Central Zone. The Company plans to develop Window Glass Hill as a large tonnage, low strip ratio deposit. The Company has continued to test an area between the previous step out drill hole located approximately 240m from the current resource boundary (ASX announcement 17th October 2019). All drilling between the step out hole and the resource has intersected gold mineralisation whilst also continuing in an up-dip trajectory to the north-east of the existing resource. | |
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