While drilling ramps up at the Cape Ray gold project, Matador Mining (ASX: MZZ) has noted multiple new structures for testing following a high-resolution heli-mag program across 40km of strike.
The phase one heli-mag geophysics program has now been completed with preliminary analysis identifying a “large number” of previously untested structures.
Matador executive chairman Ian Murray said the importance of the high-resolution magnetics cannot be underestimated.
He said all deposits discovered at the project have been on “important splay structures off the main Cape Ray shear”.
“Preliminary analysis from the program is highly encouraging with multiple new structures identified in areas where limited historical exploration has occurred,” Mr Murray pointed out.
“With further analysis, additional structures will likely be identified in the coming months.”
Drilling ramps up across Cape Ray
Mr Murray noted five rigs were currently active across Cape Ray – two double-shift diamond rigs are working on site along with three power auger rigs.
“The team is focused on ramping up both our diamond and auger drilling and delivering quality results from these programs.”
He added with delays in assay turnaround times experienced globally, Matador had established a mobile preparation laboratory at the project to shorten the company’s wait times.
Between the Window Glass Hill Granite and Big Pond areas, 855 holes for 3,000m of auger drilling has been undertaken over 6 square kilometres.
Diamond drilling is underway at greenfields targets across the wider Window Glass Hill Granite area, with the second rig carrying out infill and extensional drilling in the Window Glass Hill mineral resource section.
Over at the Benton prospect, power auger drilling is targeting a 5km long anomaly identified from rock chip sampling which uncovered a peak value of 191 grams per tonne gold.
This program aims to generate multiple diamond drill targets for follow up later in the 2021 field season.