Matador Mining Hits New High-Grade Gold Zone

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) scored four gold zones in recent drilling at the company’s 100 per cent- owned Cape Ray gold project in Newfoundland, Canada.

Matador Mining hit the quaddie from a single drill hole (CRD151) drilled at the Window Glass Hill deposit.

The four high-grade gold zones intersected, include a newly discovered lode below the existing Mineral Resource.

Results include:

10.5 metres at 2.38 grams per tonne gold from 58.5m;
1.1m at 5g/t gold from 77.3m;
7.1m at 6.93g/t gold from 118.5m; and
2m at 6.91g/t gold from 154.1m (new high-grade zone).

“The majority of drilling completed so far at Window Glass Hill, our second largest deposit (232,000 ounces gold) has been to a maximum depth of only 120 vertical metres,” Matador Mining executive chairman Ian Murray said in the company’s ASX announcement.

“Drill-hole CRD151 was drilled in our recent field season to test the depth potential below the existing Mineral Resource.

“To be able to report multiple zones of high-grade mineralisation, including a new zone below the existing Mineral Resource, is very exciting.

“The intersection of higher gold grades over greater widths than anticipated within the existing Mineral Resource area in three mineralized horizons demonstrates the upside potential of this important Resource.

“Both factors are expected to add to the mineral inventory and improve the quality of the Cape Ray project.”

Matador also received final results from recent activity at the Angus greenfield exploration discovery that have extended the mineralisation footprint to 450 by 300 metres.

Angus remains open in all directions as well as at depth, returning intercepts including:

7m at 1.2g/t gold from 76m.

“Additionally, we received the final results from our new greenfield discovery, Angus,” Murray continued.

“With all 2020 results now received for Angus, including the majority of the multi-element geochemistry, our team can commence the detailed analysis and geological interpretation of this discovery which will underpin our 2021 exploration strategy for Angus, as well as other greenfield targets in our vast, but under-explored tenement holding.”