New found gold: Matador Mining unlocks more gold hits in Newfoundland

Matador Mining’s latest infill diamond drilling results at Window Glass Hill (WGH) within the wider Cape Ray Gold Project in Newfoundland, Canada have highlighted grade continuity and opportunities for further mineral resource growth.

Gold mineralisation remains open and untested in multiple directions at the southwest extremity of the 232,000 ounce WGH resource where holes at the periphery returned “better than expected” mineralised intersections, Matador (ASX:MZZ) said.

Gold hits include:

1m at 3.9 g/t gold from 24 metres
2 metres at 5.7 g/t gold from 46m
17m at 0.9 g/t gold from 7m
5m at 1.1 g/t gold from 100m
2m at 4 g/t gold from 126m, and
6m at 1.5 g/t gold from 56m

More unfound new gold

MZZ chief geologist Warren Potma told Stockhead, the latest round of infill drilling provides critical insights into the geometry and structural controls on gold mineralisation across the 6-kilometre-long Window Glass Hill system.

This recent drilling also confirms the continuity of mineralisation defined by the existing wider spaced resource drilling, he said and is expected to contribute to increased future mineral resource classification confidence.

“Good gold intersections near the periphery of the current WGH mineral resource reinforces our belief in the potential for more gold to be hosted within the manifestly under-explored WGHG mineral system.

“It is also where less than 15% of the six-kilometre-long WGHG has been tested by diamond drilling, despite widespread gold anomalism in rock chip and basement power auger geochemistry.”

Winter drilling steams ahead

Potma says the company’s winter drilling is progressing well and as planned, with work currently focused on testing the thrilling, newly identified 3km north-eastern extension of Window Glass Hill Granite, north of the 526,000oz Central Zone mineral resources.

Results are anticipated from drilling of this newly identified extension of the WGHG northeast of the PW deposit in the coming weeks, as well as the remaining 25 holes from the 2021 drilling program.

Around 1,200 conventional till samples from the Malachite Lake greenfield reconnaissance program and the remainder of the Stag Hill Power Auger sampling program are also expected.

Matador expects regular news flow throughout the March and June 2022 quarters.

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.