Matador Mining Increases Cape Ray Gold Project Gold Mineralisation Footprint

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) reported diamond drilling results from the Window Glass Hill Granite (WGHG) region within the company’s Cape Ray gold project in Newfoundland, Canada.

Matador Mining’s recent diamond drilling encountered high-grade intercepts into the new granite margin target at the WGHG, including:

19 metres at 4.2 grams per tonne gold from 9m, including 1m at 30.6g/t gold and
6m at 1g/t gold from 34m, including 1m at 4.4g/t gold and
4m at 1.9g/t gold from 114m, including 1m at 6.3g/t gold.

The company declared the 19m at 4.2g/t gold to be the best, “significant intercept”, drilled at the WGHG that sits outside the existing WGH Mineral Resource, highlighting the potential for additional high-grade gold domains across the granite body.

Matador has now completed eleven holes into this new granite margin target, all of which are mineralised and outside the WGH Mineral Resource, thus growing the known WGHG gold mineralisation footprint.

Assays are pending for an additional 13 diamond drill holes.

“19 metres at 4.2 grams per tonne gold is the best gold intercept drilled in the WGHG, and better than any previously reported ‘significant intercepts’ within the WGH Mineral Resource,” Matador Mining executive chairman Ian Murray said in the company’s ASX announcement.

“What makes this intercept even more exciting is the proximity of the high-grade mineralisation to surface, and that it represents the successful definition of a new target type within the WGHG.

“The recent power auger geochemistry results, combined with structural interpretation of our new detailed magnetics, encouraged the exploration team to test a conceptual target on the granite margin south of the WGH Mineral Resource.

“This structural position is similar to that of Marathon Gold’s Valentine Lake Deposits, and the granite-hosted portions of Red 5’s King of the Hills Mine (Tarmoola) in Western Australia.

“With 11 new holes now completed into this previously untested granite margin target (all intersecting significant gold results), I am very excited by the untested potential of the remaining six kilometre strike length of the WGHG contact.

“This, combined with our ongoing targeting success delivering high-grade mineralisation near surface, augers well for the continued growth of the WGHG mineralisation footprint.

“With assay results now flowing through, and drilling using both power auger and diamond rigs, we are anticipating regular news flow for the remainder of the year and into 2022.”