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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/6/2020 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing PEA | |
| Report details: | 6-5-2020: Matador Mining Ltd. announces a Scoping Study report for its Cape Ray deposit at the Cape Ray project. Scoping Study results incl. NPV (8%) of C$168M & IRR of 51%. The Scoping Study referred to in this announcement is a preliminary technical and | |
| Resources: | (Resources, I+I): 12.9Mt @ 2.02g/t Au (837koz Au) | |
| CP/QP: | [Overall Report]: n/a | |
| ABSTRACT: | The Scoping Study referred to in this announcement is a preliminary technical and economic study of the potential viability of developing the Cape Ray Project by developing a mine and constructing a processing facility onsite. The Scoping Study referred to in this announcement is based on lower-level technical and preliminary economic assessments and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or certainty that the conclusions of the Scoping Study will be realised. Approximately 57% of the Life-of-Mine production is in the Indicated Mineral Resource category and 43% is in the Inferred Mineral Resource category. The Company has concluded it has reasonable grounds for disclosing a Production Target, given that the Scoping Study assumes that in the first two years of operation, 72% of the production is from the Indicated Resource category. Indicated material processed during the first four years of production accounts for 68% of gold produced. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of further Measured or Indicated Mineral Resources or that the Production Target or preliminary economic assessment will be realised. | |
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