Matador Mining Ltd’s (ASX:MZZ) (OTCMKTS:MZZMF) (FRA:7MR) high sensitivity multi-element geochemistry has characterised the key pathfinder element footprints associated with known gold deposits at Cape Ray Gold Project in Newfoundland, Canada, providing a mechanism for future exploration success.
Pathfinder elements at Cape Ray have defined a zoned halo extending up to 100 metres from mineralised gold intersections.
Understanding these pathfinder element footprints materially improves Matador’s ability to explore under the shallow glacial till cover by identifying anomalism associated with ‘near-misses' in basement samples and providing vectors to gold mineralisation.
"Step-change in exploration"
Exploration manager Warren Potma said: “Our 2020 exploration program demonstrated that hydrothermal gold mineralisation appears to be associated with a large suite of pathfinder elements with predictable zonation up to 100 metres away from gold mineralisation.
“Defining these mineralisation footprints increases the probability of determining the direction to gold mineralisation from broad spaced basement sampling, particularly for those targets under till cover.
“Systematic sampling of basement rocks beneath shallow till cover (generally less than 5 metres deep) has not occurred at the project.
“Matador’s new purpose-built ATV-mounted Winkie Drills, constructed in collaboration with our drilling partner (Major’s Contracting Ltd) will allow for rapid, inexpensive, effective and systematic first-pass sampling of high ranked green-fields targets for the first time in the region.
“We believe this will result in a step-change in exploration productivity and effectiveness through cover with the additional benefit of increasing our diamond drilling hit-rate and reducing the discovery timelines and costs.”
Accelerating geochemical sampling program through 2021
Historical basement sampling and diamond drilling has only targeted outcropping mineralisation at Cape Ray:
- Areas of outcropping basement account for less than 10% of the project area;
- Trial backpack drilling during 2020 successfully demonstrated the efficacy of drilling through 'till cover' and sampling the basal till and basement rock; and
- Till cover at the project is shallow compared with most till profiles across Canada, typically ranging from 0.5 to 5 metres.
Matador will accelerate the geochemical sampling program through 2021 by using purpose-built ATV-mounted Auger/Winkie drills designed to enhance the efficiency, speed and depth of drilling.
ATV-Winkie drilling will begin on multiple untested priority targets within 15 kilometres of the proposed central processing facility at Central Zone.
Approach to provide "best information"
Matador believes that conducting systematic gridded basement sampling across their high priority target areas will provide the best information for seeing through the shallow till cover and will deliver effective basement pathfinder element and geology maps over these areas for the first time.
These maps combined with structural interpretation of new detailed geophysics (30 metre spaced heli-magnetics planned for May 2021) will provide well-constrained advanced targets for follow-up diamond drilling.
MZZ considers this will reduce the diamond drilling discovery costs and speed up the time to potential new gold discoveries.