Matador Mining unearths gold in maiden drilling at Big Pond

Recent diamond drilling by Matador Mining (ASX: MZZ) in the Big Pond area of its Cape Ray gold project in Canada has highlighted the potential for new discoveries in the greenfield area.

The junior explorer today revealed the first significant intercepts from maiden drilling at Big Pond, which indicates potential for shallow, structurally controlled zones of higher-grade gold mineralisation.

Best assays include 1 metre at 6.7 grams per tonne gold, 3m at 2.8g/t, 3m at 2.1g/t and 1m at 2.3g/t.

“This initial greenfield drilling success confirms the efficacy of our integrated exploration targeting approach and highlights the discovery potential of the large and prospective district we control,” Matador executive chairman Ian Murray said.

Drilling at Big Pond has now ceased for the season although assays are still pending for four reconnaissance diamond drill holes. Multiple additional targets remain to be tested across the area in the 2022 season.

“The Big Pond area still has multiple untested targets less than five kilometres from the Central Zone mineral resources, which is the site of the proposed central processing facility,” Mr Murray said.

“This is contiguous to the Window Glass Hill Granite where we continue to demonstrate resource expansion potential with new discoveries like the Granite Margin Target and extension of mineralisation around and beneath existing Window Glass Hill mineral resources.”

Window Glass Hill Granite drilling continues to uncover gold

Matador also reported infill drilling within the Window Glass Hill mineral resource returned 9m at 1.1g/t gold from 17m, including 1m at 3.1g/t, plus a high-grade interval of 1m at 12.8g/t gold from 106m.

Best intercepts from five holes testing extensions to the Granite Margin Target include 1m at 11g/t gold from 12m, 1.2m at 6.7g/t, 5m at 1.8g/t and 2m at 2.3g/t gold.

Assays remain pending from 31 holes

An additional 31 diamond holes for 4,241m have been completed across four separate target areas at the Cape Ray project: the Window Glass Hill Granite heart-shaped pond target area, the Window Glass Hill Granite Margin, the Big Pond area and within the Window Glass Hill mineral resource area.

Results are also pending for 1,200 conventional till samples from the Malachite Lake greenfield reconnaissance program and the remainder of the Stag Hill power auger sampling program.

These remaining assay results are expected to be released prior to the planned February 2022 winter drilling program.