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Matador Mining Ltd.
Summary
| Project: | Cape Ray | |
|---|---|---|
| Deposit: | Central Zone | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-9-2019: Matador Mining Ltd. announces an Exploration/Drilling Update report for its Central Zone deposit at the Cape Ray project. Drilling results incl. 4m @ 1.37g/t Au from 341m. Matador Mining Limited (ASX: MZZ, MZZO) (“Matador” or the “Company”) is p | |
| 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 provide an update regarding the ongoing exploration program at its Cape Ray Gold Project (“Cape Ray” or the “Project”) in Newfoundland, Canada. The Project hosts a mineral resource of 1.02Moz @ 2.2g/t Au. The table of results are included as Appendix 1. Phase 1 of the exploration drill program targeted deeper interpreted structural trend-extents around Central Zone. Hole CRD045, which targeted the northern trend extents of Zone 51 intercepted mineralisation within quartz veining in an interpreted footwall position to the main lode (4.0m @1.4g/t Au). Following a review of all previous drilling in the area, numerous coherent high-grade intercepts were identified which had not been modelled in the current mineral resource. This newly identified zone of contiguous mineralisation contains high-grade intercepts of up to 1.8m @ 23.1g/t Au and 2.2m @ 13.7 g/t Au (Images 2 and 3) (ASX announcement 30 January 2019). Interpretation of this data indicates the potential for their inclusion in future resource updates. Additional work is ongoing to identify and sample historical core within this footwall region which was not previously sampled. Subject to the findings of this work, additional shallower drilling at Zone 51 may also be considered as part of the current exploration program. | |
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