Matador’s first gold intercepts at Big Pond Area show new find potential

Matador Mining has made first contact at its Cape Ray gold project in Newfoundland, with significant intercepts at the Big Pond Area greenfield diamond drilling and at the Window Glass Hill Granite (WGHG) diamond drilling.

The explorer says the Big Pond intercepts show the Canadian project’s potential for structurally controlled gold mineralisation.

Here:

1 metre at 6.7 g/t gold and 1 metre at 1.9 g/t (CRD296)

… and also here:

3 metres at 2.8 g/t and 3 metres at 2.1 g/t and 1 metre at 2.3 g/t (CRD288)

Then there’s intercepts from the WGH mineral resource Infill drilling.

Those are here:

1 metre at 12.8 g/t and 9 metres at 1.1 g/t (CRD226)

While at the WGHG Margin – here, here and here:

2 metres at 5.6 g/t (CRD287)
1.2 metres at 6.7 g/t (CRD289)
4.2 metres at 2.1 g/t and 2 metres at 2.3 g/t (CRD291)

So the Big Pond Area has growth potential

Matador Mining (ASX:MZZ) executive chairman Ian Murray says the greenfield drilling success at Big Pond confirms both the efficacy of an integrated exploration targeting approach – and highlights the rich discovery potential of controlling such a large and prospective district.

“The Big Pond Area still has multiple untested targets less than five kilometres from the Central Zone mineral resources, which is the site of the proposed central processing facility,” Murray says.

“This is contiguous to the Window Glass Hill Granite where we continue to demonstrate resource expansion potential with new discoveries like the Granite Margin target and extension of mineralisation around and beneath existing WGH mineral resources.”

Targeting resource growth at WGHG

Murray said the WGHG Margin target potential continues to expand.

“Infill drilling within the WGH mineral resource continues to increase our confidence in future mineral resource growth and conversion of inferred to measured and indicated,” he said.

“We aim to have one diamond drill rig solely dedicated to drilling the Window Glass Hill Granite target area throughout the 2022 season to accelerate mineral resource growth.”

Matador — Pic: New significant intercepts from BPA and WGHG drilling

Oh so many diamond holes

The company says assay results are pending from 31 diamond drill holes testing four target areas, with the drill cores at varying stages of logging, sampling, and assaying.

Then there are pending results on some 1,200 conventional till samples from the Malachite Lake greenfield reconnaissance program and the remainder of the Stag Hill power auger sampling program.

Newfoundlander

It’s a lot of promising data with the remaining assays expected to be released over the coming months and ahead of the potentially massive February 2022 winter drill program.

Which, although subject to weather conditions brings into play Matador’s other great resource – the Newfoundland miner – surely among the world’s hardest and hardiest.

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.