Matador has received the final diamond drilling assay results  late 2021 at the Cape Ray Gold Project in Newfoundland, Canada.

While recent winter drilling has focused on the newly identified 3km north-eastern extension of the Window Glass Hill Granite (WGH), north of the 526,000oz Central Zone resources, these new results reinforce Matador’s (ASX:MZZ) confidence of an interpreted plunging shoot at the core of WGH.

This domain, the company says, hosts a higher-frequency of mineralised veins, with infill drilling both confirming and extending the dimensions of this zone.

Gold hits at drill hole CRD318 returned:

  • 14m at 4.5 g/t gold from 88m, including 1m at 27.4 g/t gold from 90m and 1m at 17 g/t from 91m;
  • 15m at 2.9 g/t gold from 10m, including 1m at24.1 g/t gold from 18m and;
  • 1m at 3.5 g/t gold from 72m.

At CRD322 intersections of up to 23m at 2.3 g/t gold from 22m, including 1m at 16.6 g/t gold from 38m and 7 metres at 0.9 g/t gold from 78m, including 1m at 2.1 g/t gold from 84m were received.

Multiple high-grade zones

Chief geologist Warren Potma said the final 2021 WGH infill drill hole assay results way exceeded expectations with CRD318 intersecting, “multiple high-grade gold zones” within two wide intervals of mineralisation.

“CRD322 is particularly encouraging as this hole was drilled to the south and on the periphery of this same high-grade shoot and surprised us with the quality of a 23-metre intercept grading 2.3 g/t gold,” he said.

“Gold mineralisation is open for at least 80 metres south and south-west of CRD322 presenting a high priority follow-up target that may eventually link up with the WGHG Margin target area identified through 2021 to the south-west.

Potma said the first results from drill holes targeting a historic drilling gap, just west of the WGH Resource, at Heart Shaped Pond (WGHG-HSP) also delivered an encouraging high grade gold intercept (CRD 313) that is open for at least 80 metres in all directions.

Onwards and upwards

Results are still pending for 1,200 conventional till samples from the Malachite Lake greenfield reconnaissance program, four geotechnical drill holes undertaken at Central Zone, and the remainder of the Stag Hill Power Auger sampling program.

Winter drilling is currently underway and regular news flow is expected throughout the June quarter with winter drilling results as well as remaining 2021 power auger, till and geotech drilling assays.




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.