Matador Mining Ltd (ASX:MZZ) has extended mineralisation outside of the current resource areas at its Cape Ray Gold Project in Canada.
High-grade gold was intersected in all 15 holes completed at targets within the central section of the project and extensional drilling has confirmed the continuity of mineralisation.
The 36-hole diamond drill program is nearing completion with further results from the north, south and central sectors to be posted in the coming weeks.
Highlighted intersections include: 1.6 metres at 24.36 g/t gold from 128.2 metres; 2 metres at 13.3 g/t from 41 metres; 2 metres at 6.19 g/t from 118 metres; 1 metre at 4.91 g/t from 56 metres; and 4 metres at 2.6 g/t from 85 metres.
Matador managing director Paul Criddle said the company was pleased with the results received to date.
He said: “The purpose of this 4,000-metre diamond drill program was to test the extensions of the known deposits and follow up historical drilling in areas where no resource has been defined, with the intention of growing the recent JORC resource of 750,000 ounces of gold.
“Initial assay results indicate this program has been successful with all holes … intersecting gold mineralisation with the same style of mineralisation confirmed outside of the resource areas.
“With regards to the initial results, drilling between the 04 and 41 zones has successfully confirmed this area does contain mineralisation with high-grade gold intercepts having been encountered.
“These results are in line with our expectations, as the mineralisation at both deposits is present in the consistent widths and geological setting, with multiple lodes extending the mineralised envelope into the gap.”
READ: Matador Mining advances exploration work at Cape Ray Gold Project in Canada, returns high-grade soil samples
Matador took control of the Cape Ray project in mid-2018 and its exploration program aims to test extensions at each deposit, follow up historical drilling and develop an understanding of target controls.
Drilling in the central section of Cape Ray was designed to confirm continuity of structures close to surface from both deposits, between them and along strike.
Both deposits comprise multiple lodes from historic drilling and the widths and orientations of the structures identified are in line with historic drilling and Matador’s understanding of the deposits.