For thousands of other reports visit RSC's Mineral Intellingence Map
Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/3/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-2-2020: Matador Mining Ltd. announces a Resource Estimation report for its Cape Ray deposit at the Cape Ray project. Updated mineral resource estimate for project. Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is pleased to announ | |
| Resources: | (Resource, I+I): 16.6Mt @ 2.2g/t Au | |
| CP/QP: | [Resources]: Brian Wolfe, Patrick Rice (Independent) | |
| ABSTRACT: | Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is pleased to announce a significant increase in the Mineral Resource at its Cape Ray Gold Project (“Cape Ray”) located in Newfoundland Canada, as shown below in Table 1 and Appendix 1. The updated Mineral Resource, which has delivered an 18% increase in contained gold metal, follows a 12,600m drilling program carried out at Cape Ray during 2019. The Assessment and Reporting Criteria in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ is presented in Appendix 2. Executive Director Keith Bowes commented: “Following the completion of the largest drill program at Cape Ray in more than 30 years, we are pleased to report the resource has grown to 1.2 million ounces of gold and 3.9 million ounces of silver. Importantly, this growth has not been to the detriment of the resource grade, as the total average grade remains at just over 2.2g/t Au. Notably, at Window Glass Hill, which saw the most significant growth in resource size, the grade of this deposit also increased significantly by approximately 34%. Window Glass Hill is our second largest deposit and will be an important part of the development plans going forward. “It is also very pleasing to note that the discovery costs at Window Glass Hill of US$5/oz were very low and exceeded our expectations. Overall, total discovery costs, which included all greenfield drilling, were also very competitive at just US$12/oz. “In addition to the increased resource, our regional exploration program has identified additional targets. Regional exploration is expected to form a more significant part of future exploration at Cape Ray.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report