Matador Mining Ltd (ASX:MZZ) executive chairman Ian Murray has demonstrated faith in the company’s gold strategy with the purchase of shares in an on-market transaction.
On April 1 Murray acquired 200,000 indirect shares worth a total $58,632 increasing the number of securities held after the change to 1.2 million shares.
Cape Ray Gold Project
The company has been sitting on a metaphorical and literal pile of gold at its Cape Ray project in Newfoundland, Canada, as its 2020 drilling program delivered a swathe of new discoveries and expanded mineralisation.
Matador made the first new gold discovery at the Angus deposit within Cape Ray in more than 20 years and increased its gold footprint at the Window Glass Hill and Isle aux Morts deposits.
The company remains on track to mobilise on-site in April, ahead of the new exploration season.
Matador’s Angus discovery hole is 20 metres at 2.4 g/t of gold, with mineralisation to date intersected over a 450 x 300 metre area, remaining open.
The best intercept received from the drilling program was 18 metres at 11 g/t of gold from 7 metres at the Isle aux Morts deposit.