Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) is encouraged by initial results of step-out drilling west of the wide high-grade discovery intercepts at Window Glass Hill Granite (WGHG) Margin Target at the Cape Ray Gold Project in Newfoundland, Canada.
The wide zone of high-grade gold mineralisation extends WGHG Margin gold mineralisation to the west.
A result of 32 metres at 2.6 g/t gold from 14 metres, including 2 metres at 28.9 g/t in hole CRD277 is the best “significant intercept” within the WGHG, including the existing mineral resource.
Best "significant intercept"
Matador Mining executive chairman Ian Murray said: “The high-grade WGHG Margin Target continues to impress with the latest results for CRD277 eclipsing CRD214 (19 metres at 2.4 g/t gold) (50 metres northeast) as the best significant intercept drilled within the WGHG.
“It is equally exciting that this high-grade mineralisation commences only 11 vertical metres below surface.
“An additional 12 holes have been completed to test the potential of a further +500 metre strike-extent of the prospective Granite Margin immediately northeast of these recent significant intercepts.
Drilling to continue
“There is still over five kilometres of strike of the WGHG Margin remaining to be drill tested.
“In addition, 31 diamond drill holes have been completed across three other target areas, including Big Pond, other WGHG greenfield targets and the WGH mineral resource infill.
“Drilling will continue on the WGH infill program until winter weather sets in.
“With results pending for at least 43 diamond drill holes, we expect continued news flow until the start of our planned potential winter drilling program aimed at drill testing a new suite of greenfield targets.”
Drill results
Assays have been received for six holes of an 18-hole drill program designed to test strike extensions of the high-grade gold discovery at the WGHG Margin Target, south of the WGH Mineral Resource.
Two standout holes extend the high-grade Granite Margin Target mineralisation by at least 40 metres west and 75 metres south-west of the discovery holes.
Apart from CRD277, hole CRD279 intersected 18 metres at 1.2 g/t from 146 metres, including 2 metres at 5.4 g/t.
The discovery holes are CRD214 with 19 metres at 4.2 g/t and CRD212 with 8 metres at 5.1 g/t and 22 metres at 1.2 g/t.
An additional 12 holes (1,948 metres) have been completed (assays pending) to test the along strike potential of this target up to 500 metres northeast along the granite margin contact.
Assays pending
Assay results are still pending from 31 diamond holes for 4,018 metres testing three separate target areas, with drill core at varying stages of logging, sampling and assaying.
They include:
➢ Eleven greenfield diamond drill holes from the Big Pond target area (1,506 metres);
➢ Twelve greenfield diamond drill holes from the WGHG Heart-Shaped Pond (HSP) target just west of the main WGH Resource (1,264 metres); and
➢ Eight infill drill holes within the WGH mineral resource (1,248 metres). The WGH mineral resource infill drilling is still ongoing.
2021 summer drill program
There are more than 43 diamond drill holes (5,966 metres) testing four target areas from the 2021 summer drilling program that are still pending processing and reporting of assay results.
Results are also pending for 1,200 conventional till samples from the Malachite Lake greenfield reconnaissance program and the remainder of the Stag Hill power auger sampling program.
These remaining assay results are expected to be released over the coming months, ahead of the planned potential February 2022 winter drill program, which remains weather-dependent.