Matador Mining begins inaugural winter drilling campaign at Cape Ray Gold in Newfoundland

Matador’s first ever winter drill program has kicked off at the Cape Ray Gold Project in Newfoundland, Canada.

The 30-hole for 3,000 -4,500m diamond drill campaign will test targets at PW East, Stag Hill, Ise aux Morts, and Benton.

Matador (ASX:MZZ) says the program will investigate surficial geochemistry and magnetic anomalies at PW East and along the untested northern margin of the Central Zone mineral resource of 526,000ozat 2.2 g/t gold.

A follow-up on the 2021 results surficial and auger chemistry at Stag Hill will be carried out, and brownfield depth extensions and greenfield targets proximal to the Isle aux Morts deposit will also be tested.

Ramping up exploration

MZZ executive chair Ian Murray said the company plans to mitigate the winter conditions in Newfoundland – which usually halts traditional drilling for a few months – by carrying out a drilling program that will maintain an “aggressive pace of exploration”.

“As the winter program then segues into our 2022 summer program, Matador will prove itself as an exploration company that can successfully and efficiently execute exploration programs in all seasons and provide investors with regular news flow throughout the year.

Next on the agenda

News flow from 35 diamond drill holes completed in the 2021 summer drilling season remain pending from the following targets:

Ten greenfield diamond drill holes assessing the WGHG Heart-Shaped Pond (HSP) target area – which has never been drilled, however, new power auger geochemistry delivered multi-gram bottom-of-hole gold intersections prompting a reassessment of the area’s prospectivity;
Seven greenfield diamond drill holes testing for along-strike extensions of the WGHG Margin mineralisation to the north-east;
Three greenfield diamond drill holes from the Big Pond Area;
11 infill drill holes within the WGH mineral resource; and
Four geotechnical drill holes undertaken at Central Zone.

Results are also pending for 1,200 conventional till samples from the Malachite Lake greenfield reconnaissance program and the remainder of the Stag Hill power auger sampling program.

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.