Matador Mining Expands Canadian Mineralisation

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) extended the mineralised area at the Window Glass Hill deposit at the company’s Cape Ray gold project in Newfoundland, Canada.

Matador Mining said the drilling was part of the second and third stages of its exploration program with the drilling targeting shallow lateral extensions around known deposits, whilst also testing gaps between known deposits, specifically at the Central Zone project (810,000 ounces gold at 2.6 grams per tonne gold).

Window Glass Hill (WGH) hosts a current resource of 134,000 ounces at 1.2g/t gold.

The company explained WGH is a key target for the second stage of its exploration program.

Although it has a lower grade than Central Zone, WGH is considered by Matador to have potential to become a large tonnage, low strip ratio deposit, and form a major source for future production.

Results from the current drill program at WGH include:

22.8 metres at 1.1 grams per tonne gold, including 9.7m at 2.2 g/t gold from 58m;

9.2m 1.1g/t gold from 70m;

4.2m at 2.2g/t gold from 61m;

2.8m at 3.6g/t gold from 34m; and

2.8m at 1.1g/t gold from 6m.

Matador said it was extremely encouraged by these results, noting all intercepts are at a depth of less than 100m, which is in line with the company’s strategy of targeting mineralisation that can be easily accessed via an open pit operation.

“We have long believed WGH has the potential to be a large tonnage, low strip ratio deposit and recent results are shaping up to confirm this,” Matador Mining technical director Keith Bowes said in the company’s announcement to the Australian Securities Exchange.

“Importantly, from our interpretation, the latest intercepts are shallow up-dip extensions of the existing gold resources (134,000 ounces gold), all less than 100 metres from surface, therefore aligning with the company’s strategy of targeting shallow mineralisation that can be mined easily via an open pit operation.

“These results indicate that WGH could form a significant part of the long-term production plan, which will be announced as part of our development study targeted for release in Q1-2020.”

Aside from the drilling at WGH, Matador also tested a ‘gap’ between the 04 and H Brook deposits, located at the northern extension of Central Zone project.

This intercepted gold mineralisation of:

5.4m at 4.3g/t gold, including 2.5m at 8.8g/t gold from 74m;
0.3m at 6.2g/t gold from 61m; and
1.05m at 1g/t gold from 94m.

Similar to the 04 deposit, located 80m from hole CRD071, this intercept encountered multiple mineralised lodes with a high-grade section.

The company indicated it plans to further test this hole to determine if this is a potential extension to the 04 deposit.