Matador extends mineralisation at Cape Ray gold project, plans greenfield drilling in 2022

Matador Mining’s step-out drilling at the Cape Ray gold project has encountered a wide zone of high-grade gold mineralisation that extends the Window Glass Hill Granite (WGHG) Margin Target to the west.

Assays have been received for six holes of the 18-hole drill program, with best results of:

32m at 2.6g/t gold from 14m (including 2m at 28.9g/t) and;
18m at 1.2g/t from 146m (including 2m at 5.4g/t).

The drilling has extended the Margin Target mineralisation by 40m west and 75m southwest.

An additional 12 holes have been completed with assays pending to test the along strike potential of this target up to 500m northeast along the granite margin contact.

Still 5km of strike to be drill tested

Matador Mining (ASX:MZZ) executive chairman Ian Murray said the WGHG Margin Target continues to impress, with the latest results the best intercepts drilled to date within the WGHG.

“It is equally exciting that this high-grade mineralisation commences only 11 vertical metres below surface,” he said.

“An additional 12 holes have been completed to test the potential of a further +500m strike-extent of the prospective Granite Margin immediately northeast of these recent significant intercepts.

“There is still over 5km of strike of the WGHG Margin remaining to be drill tested.”

MZZ WGHG Map — Pic: Drill hole location map (on TMI-RTP magnetics).

Assays pending for three target areas

The company has also completed 31 diamond drill holes across three other target areas, including Big Pond, other WGHG greenfield targets and the WGH Mineral Resource Infill:

11 greenfield diamond drill holes from the Big Pond target area (1,506m);
12 greenfield diamond drill holes from the WGHG Heart-Shaped Pond (HSP) target just west of the main WGH Resource (1,264m); and
8 infill drill holes within the WGH Mineral Resource (1,248m) – with WGH Mineral Resource infill drilling ongoing.

“Drilling will continue on the WGH infill program until winter weather sets in,” Murray said.

“With results pending for at least 43 diamond drill holes, we expect continued news flow until the start of our planned potential winter drilling program aimed at drill testing a new suite of greenfield targets.”

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.