Matador Mining confirms multiple gold lodes at Window Glass Hill prospect within Cape Ray project

Matador Mining ASX MZZ Window Glass Hill gold lodes Cape Ray Gold Newfoundland Canada
Drilling at the Canadian project is aimed at converting Matador’s inferred gold resource to the indicated category.

Results from diamond drilling at the Window Glass Hill prospect within Matador Mining’s (ASX: MZZ) Cape Ray gold project in Canada have confirmed multiple stack lodes at surface from the inferred resource area.

The 46-hole program was designed to infill the broad-spaced mineral resource drill pattern to facilitate conversion of the resource classification from inferred to indicated.

Grades and widths of significant intercepts were reported to be consistent with existing wider-spaced drilling into the deposit, reinforcing Matador’s confidence in the geological model and the interpreted gold lode geometries, grade and continuity.

Significant gold intercepts included 4 metres at 4 grams per tonne, 3m at 3.1g/t, 5m at 1.6g/t, 2m at 3.1g/t, 8m at 3g/t, 17m at 1.4g/t, 7m at 1.4g/t and 8m at 1.9g/t gold.

Assays are pending for an additional 10 infill holes for 1,173m.

Strong results

Matador executive chairman Ian Murray said it was rewarding to see strong results emerging from drilling at Window Glass Hill.

“Our drilling confirms the presence of strong gold mineralisation from surface, with multiple stacked lodes within the first 120 vertical metres delivering on our aim to improve the resource classification confidence and inventory,” he said.

“These results, combined with the recent exploration success at the granite margin target, make us think we are just scratching the surface of the mineralisation potential of the 3 kilometre-long Window Glass Hill granite.”

Greenfields targets

Mr Murray said two diamond rigs are now focused on high priority greenfields targets away from the existing mineral resources.

One rig is actively drill-testing greenfield targets at the Big Pond prospect, generated from detailed magnetics and recent positive power auger basement geochemistry results, while the second is following up on results from the granite margin target.

Two power auger crews have been deployed to the Stag Hill prospect, located 4km northeast along strike from the Central Zone resources on the main mineralised trend and never previously tested by diamond drilling.

Past surface geochemistry sampling (soils and tills) in the area was rendered ineffective as the prospective structure is buried beneath 8m of transported glacial till cover and the basement rocks have never been sampled.

Given the slightly deeper cover and 3km of prospective strike length along the main structure, results of the power auger exploration program are expected to be delivered in tranches through the December quarter.

Malachite Lake exploration

Matador’s three backpack drill sampling crews have been re-assigned to complete a broad first-pass surface till sampling program covering 44sq km of previously unexplored ground north of the Malachite Lake target area.

This new area was identified following preliminary interpretation of a recently-acquired detailed aeromagnetic dataset and is located within new claims pegged earlier this year.

The company said the magnetic data revealed significant structural complexity and high priority gold exploration targets relating to fault splays off the Cape Ray shear zone.

The area has never been surface-sampled or drilled and represents a virgin exploration target.

Results from till sampling are anticipated early in the new year in time to design follow-up work for the June 2022 quarter.

Matador said extended turnaround times were likely given the requirement for expert heavy mineral separation, gold grain and indicator mineral analysis of the till samples – all provided by a specialist Canadian service which is currently in high demand.

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