Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) has received better than expected mineral intercepts in resource infill drilling at the Window Glass Hill (WGH) resource within the Cape Ray Gold Project in Newfoundland, Canada, confirming grade continuity and demonstrating the robustness of the company’s resource model.
Gold mineralisation over the 6-kilometre Window Glass Hill Gold (WGHG) system remains open and untested in multiple directions at the southwest end of the resource and continues to return high grades at the periphery of the resource, demonstrating its continued prospectivity.
Highlight intercepts from the infill drilling include:
- 1-metre at 3.9 g/t gold from 24 metres and 2 metres at 5.7 g/t from 46 metres;
- 17 metres at 0.9 g/t from 7 metres and 5 metres at 1.1 g/t from 100 metres;
- 2 metres at 4.0 g/t from 126 metres; and
- 6 metres at 1.5 g/t from 56 metres.
“Providing critical insights”
“The infill drilling within the WGH mineral resource is providing critical insights into the geometry and structural controls on gold mineralisation across the 6-kilometre-long WGHG gold system,” Matador Mining chief geologist Warren Potma said.
“This recent drilling also confirms the continuity of mineralisation defined by the existing wider spaced resource drilling and is expected to contribute to increased future mineral resource classification confidence.
“It is particularly encouraging to see good gold intercepts near the periphery of the current WGH mineral resource, reinforcing our belief in the potential for more gold to be hosted within the manifestly under-explored WGHG mineral system, where less than 15% of the 6-kilometre-long WGHG has been tested by diamond drilling, despite widespread gold anomalism in rock chip and basement power auger geochemistry.
“Winter drilling is also progressing well, with results eagerly anticipated from drilling of the newly identified extension of the WGHG northeast of the PW deposit, as well as assays from the remaining 25 holes from the 2021 drilling program and 1,200 till samples from the Malachite Lake greenfield target.”
Assays from the 25 remaining holes of the 2021 program are expected in the coming weeks.
About Matador Mining
Matador Mining is a gold exploration company with tenure covering 120 kilometres of continuous strike at the highly prospective, yet largely under-explored Cape Ray Project in Newfoundland, Canada.
The company believes Cape Ray has great potential to become a large gold operation and is planning extensive exploration to expand the project's mine life.
The project hosts a resource of about 840,000 ounces at 2.02 g/t gold, with 96% of the resource less than 200 metres from the surface.
It also enjoys support from existing infrastructure including roads, water, availability of skilled workforce and low-cost grid power access.