Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) has expanded its landholding along the Cape Ray Shear Zone (CRSZ) in Newfoundland by 62 square kilometres following a comprehensive internal targeting workshop held in collaboration with external industry experts last quarter.
These new claims are directly adjacent to Matador-owned tenements and are thought to be prospective due to highly anomalous historic lake sediment sampling that returned silver, lead and zinc (key gold pathfinder elements) results in the top 3% of all lake sediment anomalies in Newfoundland.
The prospective fault within this new tenure splays off the main CRSZ, identified in historic magnetic data that correlates with versatile time domain electromagnetic (VTEM) conductivity targets and indicative pathfinder geochemistry anomalies.
“New exploration search space”
“The success of the greenfield till gold grain sampling program at Malachite, inspired by the quality of the 2021 detailed magnetics survey, has identified a new exploration search space for Matador with demonstrated gold mineralisation potential on second and third-order structures kilometres away from the main CRSZ,” Matador's chief geologist Warren Potma said.
“These newly staked claims are adjacent to our existing tenements and located on the largest regional bend in the multi-million-ounce CRSZ.
“It is also close to the intersection of the CRSZ with the second richest gold structure on the island which passes through Matador’s Hermitage Project and continues up through New Found Gold’s Queensway Project.
“Structural bends and intersections in major gold-rich fault zones are key factors used in the targeting of major gold deposits.
“Areas like this new claim and Malachite have historically not been effectively explored. They have never been drilled, have limited, if any, systematic surface sampling and present an incredible greenfield gold discovery opportunity in the significantly underexplored Newfoundland region.”
Map of Matador’s updated tenement holdings at the Cape Ray Gold Project.