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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 12/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2018: 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”) is | |
| 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 announce the completion of its maiden 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 within 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: “The purpose of our maiden drill program was to test the strike extent of our known deposits, with a view to extend the mineralised envelope (and resource) of those deposits. We expect that much of the drilling may be included in future resource updates and that such drilling could support revised estimates at or above the current resource average. “Equally, we are very pleased that several of our new targets, without JORC resources allocated, have responded well to testing. Both PW and H drilling programs have been successful in growing the mineralised envelopes and increasing drill density. As a result of the drilling, we plan to undertake resource estimations in relation to these targets in the first quarter of 2019. “The results achieved illustrate the responsiveness to the drill bit at Cape Ray. From infilling the gap between the 04 and 41 zones with high grade intercepts, to hitting mineralised widths significantly | |
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