Matador Mining drills into new wide and high-grade gold zones at Cape Ray

Matador Mining ASX MZZ drills new wide high grade gold zones Cape Ray Canada Newfoundland
Matador Mining intercepted 32m at 2.6g/t gold from 14m, including 2m at 28.9g/t gold at the WGHG Margin target.

Matador Mining (ASX: MZZ) has drilled into new wide and high-grade gold zones west of its Window Glass Hill Granite (WGHG) Margin target within its Cape Ray gold project in Canada’s Newfoundland.

Assays have now been received for six holes of the 18-hole program at WGHG Margin, which focused on strike extensions to the discovery, which is south of the original WGH mineral resource.

These comprise a highlight intercept of 32m at 2.6 grams per tonne gold from 14m, including 2m at 28.9g/t gold.

Matador said this was the “best significant intercept” drilled to-date at WGHG including those making up the existing resource.

Another notable result was 18m at 1.2g/t gold from 146m, including 2m at 5.4g/t gold.

Matador executive chairman Ian Murray said WGHG “continued to impress”, with the 32m intercept “eclipsing” the previous best, which was 19m at 2.4g/t gold.

“It is equally exciting that this high-grade mineralisation commences only 11 vertical metres below surface,” he noted.

“An additional 12 holes have been completed to test the potential of a further 500m strike extent of the prospective granite margin immediately northeast of these recent significant intercepts.”

Mr Murray pointed out there remained more than 5km of strike of the WGHG Margin to be tested.

Other targets within Cape Ray

As well as WGHG Margin, 31 diamond holes have been completed across three other areas including Big Pond, WGHG greenfield targets and infill drilling at the WGH resource, which comprises 232,000 ounces of contained gold at 1.6g/t.

“Drilling will continue on the WGH infill program until winter weather sets in,” Mr Murray said.

All-up across Cape Ray, assays are pending from 43 diamond holes for 5,966m that tested four target areas.

Matador anticipates the assays will be reported “over the coming months” prior to the February winter drilling program beginning.

The project has a current global resource inventory (open pit and underground) of 12.9Mt at 2.02g/t gold for 837,000oz.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.