THE DRILL SERGEANT: Matador Mining (ASX: MZZ) has encountered some high-grade gold hits during an ongoing exploration program at the company’s Cape Ray gold project in Newfoundland, Canada.
Matador Mining reported drilling results from Window Glass Hill within the Cape Ray project that has continued to deliver strong exploration results, including:
29m at 1.9 grams per tonne gold, including 3m at 9.7g/t gold from 44m and 9m at 3g/t gold from 64m;
21m at 1.3g/t gold, including 2m at 11.4g/t gold from 38m;
13m at 1g/t gold, including 3.2m at 3.4g/t gold from 89m;
3m at 3.4g/t gold from 47m; and
5m at 1g/t gold from 47m.
Matador Mining said the drilling at Window Glass Hill has now stepped out more than 240m from the existing resource and results have confirmed the potential for this to be a large tonnage, low strip deposit.
According to the company, the drilling also confirmed mineralisation is trending in an up-dip trajectory from the existing resource with recent drilling encountering higher grade gold mineralisation than previously reported, which Matador thinks may indicate the potential for a high-grade section at the Window Glass Hill deposit.
Drilling at the southern extension of Central Zone at the PW deposit, intercepted mineralisation up-dip to the previously reported hole (CRD052), returning:
5.8m at 2.1g/t gold from 57m.
“We are pleased with the continued drilling success at Window Glass Hill, as results give further encouragement that this is shaping up as a shallow, large tonnage deposit,” Matador Mining executive director Keith Bowes said in the company’s announcement to the Australian Securities Exchange.
“With drilling having identified shallow resource extensions, mining at Window Glass Hill is expected to be simple and cost effective, providing support for project development.
“In addition, up-dip drilling at the PW deposit in Central Zone has confirmed a higher-grade section of this deposit and extended the previous 2.5 kilometre resource boundary at Central Zone.
“Given that both PW and Window Glass Hill are granites deposits, there is potential for these to join.
“There has been limited to no drilling between these deposits which are approximately one kilometre apart and this is a priority area for follow up work.”
Window Glass Hill hosts an existing resource of 134,000 ounces of gold at 1.2g/t gold and is located approximately one kilometre from form the PW deposit at Central Zone.