Matador Mining to Follow High-Grade Rock Chips as Exploration Guide

THE DRILL SERGEANT: Matador Mining (ASX: MZZ) recently completed a regional soil sampling program at the company’s Cape Ray gold project in Newfoundland, Canada.

Matador Mining conducted the program as part of a greenfield target generation process it anticipates to be tested further during 2020.

The company expects the results of the soil sampling program during Q4 2019.

“To identify targets for the 2019 regional exploration program, the company considered a range of factors, including analysis of structural data, geophysics, rock geochemistry, pathfinder geochemical elements and regional mapping,” Matador Mining said in its ASX announcement.

“The company also reviewed all historical rock chip samples and found numerous high-grade samples along the 80 kilometres of strike.”

The key targets for the 2019 regional exploration program included:

The Granites; Isle aux Morts; The Gap; Benton; and Keats Find.

Results include:

191 grams per tonne gold and 59g/t gold at Benton (11.5km north of Central Zone);
11.6g/t gold at Keats Find (16.8km south of Central Zone);
56.8g/t gold at Grandy’s Find (16km north of Central Zone);
18.7g/t gold at Benton 5 (39km north of Central Zone); and
41.9g/t gold at Isle Aux Morts (7.5km North of Central Zone).

Matador claims the Cape Ray shear is regarded as one of the more prospective, yet under explored gold regions in North America.

The company consolidated approximately 80km of continuous strike across the southern portion of the shear earlier this year, the first time this ground has been under the ownership of a single company.

The majority of drilling at the project is within a strike of 5km, between the Central Zone and Window Glass Hill deposits.

Matador said the location of this drilling is unsurprising as approximately 95 per cent of the total resource of 1.02 million ounces at 2.2g/t gold is contained within this area.