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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 11/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-11-2018: Matador Mining Ltd. announces an Exploration/Drilling Update report for its Cape Ray deposit at the Cape Ray project. Drilling results incl. 1.6m @ 24.36g/t Au from 128.2m. Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or “the Company”) i | |
| Resources: | (Resource, I+I): 13.354Mt @ 1.7g/t Au, 6.3g/t Ag for 750Koz Au, 2.7Moz Ag contained at Cape Ray | |
| CP/QP: | [Overall Report]: Alfred Gillman (Independent) | |
| ABSTRACT: | Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or “the Company”) is pleased to provide an update on the progress on its 4,000m diamond drilling program at the Cape Ray Gold Project (“Cape Ray”) in Newfoundland, Canada. Cape Ray has a JORC resource of 750,000oz Au and 2,700,000oz Ag (13.35mt at 1.75 g/t Au and 6.3 g/t Ag). This resource is hosted on only a small central portion, totaling approximately 3km of the consolidated 65km, of highly prospective ground along the Cape Ray Shear. Matador Managing Director Paul Criddle commented: “We are pleased with the results received to date. The purpose of this 4,000m diamond drill program was to test the extensions of the known deposits and follow up historical drilling in areas where no resource has been defined, with the intention of growing the recent JORC resource of 750,000 oz Au. Initial assay results indicate this program has been successful with all holes completed to date, intersecting gold mineralisation with the same style of mineralisation confirmed outside of the resource areas. “With regards to the initial results, drilling between the 04 and 41 Zones has successfully confirmed this area does contain mineralisation with high-grade gold intercepts having been encountered. These results are in line with our expectations, as the mineralisation at both deposits is present in the consistent widths and geological setting, with multiple lodes extending the mineralised envelope into the gap. “The drilling at both the H and PW Zones, areas where limited historical drilling has been completed, again indicates the presence of gold mineralisation, in a confirmatory geological setting as that of the prior work and indicates that there is potential for inaugural resources at these prospects. This shallow drilling is encouraging, in that it seems to point to more open pit-able mineralisation being | |
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