Matador Mining Ltd’s (ASX:MZZ) drilling continues to expand the mineralised footprints at its Cape Ray Gold Project in Newfoundland, in Canada, with the Angus discovery mineralised area expanding by at least 120,000 square metres.
The new assay results from the ongoing 10,000-metres drill program confirm the new greenfield Angus discovery is open in all directions.
Drilling also extends Window Glass Hill and Isle aux Morts mineralisation outside their existing mineral resource wireframes, with significant gold intercepts.
Further resource growth
Matador Mining executive chairman Ian Murray said: “Intersecting another zone of Angus-style gold mineralisation 300 metres east of the original Angus discovery hole highlights the prospectivity in this area and the Cape Ray Shear.
“This step-out drilling is only the second conceptual target tested this year using Matador’s new integrated targeting methodology, which has identified a further 32 new targets for testing.
“Delivering another set of multigram-metre gold intersections reinforces the potential scale of the Angus discovery and the effectiveness of our targeting methods.
“New drilling 170 metres south of the Angus discovery hole, as well as the brownfields extension drilling south-west of Window Glass Hill, demonstrates that both Angus and Window Glass Hill remain open in multiple directions, highlighting the possibility of further resource growth in this area.”
Discovery hole extends footprint
New drilling east and south of the discovery hole (CRD126) demonstrates that gold mineralisation at Angus has a footprint of at least 400 metres (E-W) x 300 metres (N-S) and is open and untested to the east, south and west.
The extent of mineralisation is also not yet adequately tested to the north, where strong sericite alteration persists and ground magnetics targets remain untested.
Additional east-directed drill holes have been designed to test the extent of the west-dipping vein set while also exploring the continuity of Angus stockwork mineralisation between the three existing drill lines.
These additional holes are to be drilled in November 2020, with drill core processing, assaying and reporting to continue through to the March quarter 2021.
Window Glass Hill footprint extended
Ongoing brownfield mineral resource extension drilling immediately south-west of the Window Glass Hill mineral resource continues to intersect additional stacked quartz-galena-gold veins with the same structural control exhibited within the Window Glass Hill mineral resource.
Significant gold intercepts include:
➢ CRD145:
- 22 metres at 0.66 g/t gold, including 2 metres at 1.93 g/t and 1-metre at 3.03 g/t from 39 metres
➢ CRD134:
- 0.42 metres at 12.43 g/t from 25.9 metres; and
- 4.2 metres at 1.59 g/t, including 1.2 metres at 4.91 g/t from 53 metres
➢ CRD135:
- 1.5 metres at 1.44 g/t from 95 metres
➢ CRD133:
- 11.7 metres at 0.36 g/t, including 0.89 metres at 1.93 g/t and 0.31 metres at 3.05 g/t from 28 metres
The results are consistent with intercepts from last year’s Window Glass Hill mineral resource drilling program, and demonstrates its continued prospectivity, with contiguous gold mineralisation intersected in multiple holes.
Potential extensions to Isle aux Morts mineralisation
Results have been received for the first two holes of a 16-hole mineral resource infill and extension drilling program at IAM, which has a current inferred mineral resource of 60,000 ounces at 2.4 g/t gold.
Both drill holes CRD152 and CRD153 intersected gold mineralisation outside the existing mineral resource wireframes, including best intercepts of:
➢ CRD152:
- 7 metres at 0.98 g/t, including 1.64 metres at 2.15 g/t from 90 metres
➢CRD153:
- 4 metres at 0.98 g/t, including 1.28 metres at 4.8 g/t from 71 metres
Hole CRD152 intersected mineralisation below and to the east of the current mineral resource wireframes and demonstrates the potential to further extend mineralisation outside existing Resource volumes to the east and at depth.
Assays are pending for the 14 holes drilled to infill the existing mineral resource drilling, including holes CRD158 and CRD159 testing mineralisation up-dip from these latest intersections.
Next steps
The company’s strategy is to prioritise growth through new greenfields discoveries, while continuing to progress mineral resource extension and infill drilling in the known deposits.
The company has identified 33 new targets for follow-up and is in the process of testing the 12 highest priority targets this year and into 2021.
Drilling has successfully identified multiple grammetre intersections in all new greenfields drill targets tested to date, demonstrating the greenfields exploration potential of the project.