Matador Mining appoints Newfoundland expert Kerry Sparkes to drive more discoveries at Cape Ray
Kerry Sparkes has already been advising Matador Mining on the Cape Ray gold project for 12 months.
Newfoundland mineral expert Kerry Sparkes has joined Matador Mining’s (ASX: MZZ) board as a non-executive director to help drive further discoveries across its Cape Ray gold project.
Matador’s flagship Cape Ray project is located on the underexplored Cape Ray shear in Canada’s Newfoundland.
The project currently has 837,000 ounces of gold in resources grading 2 grams per tonne.
Commenting on Mr Sparkes board appointment, Matador non-executive chairman Justin Osborne said he is a “highly respected and accomplished mining executive”.
Mr Sparkes has also already been advising Matador over the last 12 months.
“Mr Sparkes has had a tremendous career making major mineral discoveries and creating substantial shareholder value.”
“He also adds a passionate Newfoundland voice to our board, which is critical in this emerging frontier.”
Newfoundland resident
Mr Sparkes lives in St John’s, which is the largest city in Newfoundland and Labrador.
He has more than 30 years’ experience as a geologist in global mineral exploration and has extensively evaluated Newfoundland at various times during his career.
Commenting on his new role, Mr Sparkes said he previously explored the Cape Ray shear in the early 2000s.
He added he looked forward to supporting the company’s strategy of becoming Newfoundland’s “next significant gold company”.
“ has an extensive land package situated on highly prospective geological trends that currently host several major mineral deposits.”
“These are key ingredients for the company to make major new discoveries,” Mr Sparkes added.
Accelerated exploration
Matador moved into the current quarter with an extra $5 million in the bank to fund accelerated exploration at Cape Ray.
The funds came from a $4.5 million capital raising, followed by a $500,000 private placement.
A further $2.9 million has been raised after a share purchase plan closed earlier this month.
All-up, Matador has an extra $7.9 million to fund accelerated exploration across Cape Ray, which now covers 1,033sq km of ground in Newfoundland.
The project hosts 120km of continuous strike.