Matador just doubled the strength of its prospective gold intrusion at Cape Ray
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Matador could have lots more gold at its Cape Ray project after doubling the strike of the highly prospective Window Glass Hill Granite intrusion to over 6km.
Interpretation of new detailed magnetics, lithogeochemistry and historical data demonstrates that an untested sheared wedge of the WGHG, which hosts the 232,000oz Window Glass Hill and 80,000oz Central PW resources, extends 3km further northeast along the Cape Ray Shear Zone (CRSZ) than previously interpreted.
Matador Mining (ASX:MZZ) adds that this extension is hosted entirely within the CRSZ and has not been rock chip sampled or targeted by diamond drilling due to been covered under a shallow veneer of till.
With just 15% of the new 6km length of the WGHG drill tested to date and most drilling limited to less than 120m below surface, there is plenty of room for the company to make significant discoveries along strike and at depth.
Power auger sampling through till cover and numerous surface rock chips with +1g/t gold in areas of outcrop demonstrates the potential for vein-hosted gold mineralisation across the entirety of the highly altered and quartz-veined WGHG.
The WGHG Margin discovery in August last year that was made using magnetics and geochemistry to “see through” the till cover, highlights the potential for multiple structurally-controlled gold mineralisation shoots to exist across the large but under-explored WGHG.
“The opportunity presented by the large WGHG system to support significant mineral resource growth within a stone’s-throw of the proposed processing facility at Central Zone is extremely exciting,” executive chair Ian Murray said.
“To find that the WGHG extends a further three kilometres to the north-east, immediately adjacent to the existing 519Koz Au Central Zone Mineral Resource, in an area almost completely devoid of previous drilling, represents a great opportunity for Matador to test through 2022.”
He added the outcome demonstrated the value of collecting and interpreting detailed magnetics, quantitative basement lithogeochemistry data, questioning historical logging and revisiting faded historical map interpretations.
Matador will dedicate at least one diamond drill rig during the 2022 summer drilling season to grow the WGHG-hosted resources footprint.
This will also seek to make new discoveries across the area that has yet to be effectively drill tested.
The company will also advance its broader greenfield discovery efforts and exploration target pipeline.
This article was developed in collaboration with Matador Mining, 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.