Matador beats the winter chill by finding gold at Cape Ray
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Matador Mining has found a new brownfields target – called PW-East – at its Cape Ray gold project in Newfoundland, Canada.
Recent drilling returned several shallow gold intercepts including:
Not bad for Matador Mining’s (ASX:MZZ) first winter exploration program at the project.
Plus, the company says this demonstrates its ability to deliver safe and efficient drilling through the winter months – which de-risks future winter drill campaigns.
Drilling at PW-East was designed to test the north-eastern extension of the gold bearing Window Glass Hill Granite (WGHG) – which has proven to be a favourable host for gold mineralisation.
“The PW-East results highlight the potential to discover extensions to known mineralisation in the Central Zone area, and more broadly across the large gaps in drilling along the six-kilometre-long Window Glass Hill Granite,” chief geologist Warren Potma says.
“The intersection of 11 metres at 2.9g/t Au near surface, 275 metres east along strike from the easternmost significant intercept in the PW Mineral Resource, demonstrates the opportunity for shallow discoveries in the poorly drilled gaps between (and around) the half million-ounce Central Zone Mineral Resources.
“As does the 3 metres at 10.7g/t Au intercept in the Central Zone shear hosted ore position between the Zone 41 & Zone 51 Mineral Resources.”
The company will continue to move forward with its prioritised greenfield target testing strategy in the approaching Summer exploration program.
This article was developed in collaboration with Matador Mining Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.