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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Cape Ray | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/8/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-8-2019: Matador Mining Ltd. announces an Exploration/Drilling Update report for its Cape Ray deposit at the Cape Ray project. Drilling results incl. 15m @ 1.8g/t Au from 222m. Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is pleas | |
| 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 announce the assay results from the next six diamond drill holes completed as part of the current 12,000m exploration drill program at its Cape Ray Gold Project (“Cape Ray” or the “Project”) in Newfoundland, Canada. The table of results are included as Appendix 1. All drilled and assayed holes (9 completed holes to date) have encountered mineralised structures, with major intersections encountered in holes CRD037 (16m @ 3g/t) 2 and CRD041 (15m @ 1.8g/t Au), demonstrating the opportunity for significant additional mineralisation in the area. The 3 holes partially reported here (CRD042, CRD043 and CRD044) are currently being processed, with further results expected to be released later this month. Drilling will be accelerated moving forward, as a second drill rig is due to arrive at site later this month. Executive Director Keith Bowes commented: “We are encouraged by another significant intercept which will add to the defined mineralised area, highlighting potential for further extension to the current resource at Central Zone, which is shaping up to be the core initial production centre for the future operation. “This initial phase of the drilling program has targeted the deeper conceptual structural plunges of the known mineralisation. These targets were completed early in the program to allow for interpretation of results to be incorporated into the planning for the broader exploration program. With this part of the program now concluded, drilling for the remainder of the program is targeting shallower mineralisation with an average depth of approximately 150m. This shallower drilling will incorporate RC drilling, with that drill rig due at site later this month.” | |
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