Matador Mining’s winter drilling hits shallow gold zones

Matador Mining ASX MZZ winter drilling hits shallow gold zones Newfoundland Cape Ray Canada
A highlight interval from the PW-East target within Cape Ray was 1m at 15.6g/t gold from 47m.

Newfoundland focused gold explorer Matador Mining (ASX: MZZ) has released further assay results from winter drilling at its Cape Ray project in the Canadian province.

Several shallow gold intercepts at a new brownfields target, PW-East, resulted in assays of 11m at 2.9 grams per tonne gold from 44m and 3m at 10.7g/t from 26m.

Both intercepts contained higher grade 1m intervals of 11.1g/t gold and 29.4g/t gold, respectively.

The winter drilling program across the Central Zone Brownfields, PW-East and Stag Hill totalled 5,930m.

Program showed winter drilling safe, efficient

The company said it demonstrated that it could safely and efficiently drill through the cold winter months, which will further de-risk future winter drilling campaigns.

Chief geologist Warren Potma noted that winter program was designed to test high priority targets close to the Cape Ray camp.

“The PW-East results highlight the potential to discover extensions to known mineralisation in the Central Zone area and more broadly across the large gaps  in drilling along the 6km Window Glass Hill Granite (WGHG),” he added.

This drilling has confirmed that the WGHG-hosted gold mineralisation extends at least to 275m northeast of the easternmost historic significant intercept at the PW resource.

Stag Hill target downgraded after drilling

The Stag Hill area, 3km northeast of Central Zone 4 deposit, was targeted based on the coincidence of a strong gold and pathfinder element geochemistry anomaly and a prominent fault bend or jog identified in the detailed magnetics.

A nine-hole diamond drill program was designed to test the peak geochemistry anomaly over the interpreted fault jog.

Matador says that only low-grade gold results, the best being 3m at 1g/t were returned from this drill test, and the target has been downgraded with no immediate further work planned.

Cape Ray was discovered in 1977 and has been explored by several mining companies, with more than 85,000m of drilling having been done (much of that before 1989).

The project is in the southwestern area of the Canadian province of Newfoundland, 25 km northeast of the coastal town of Port aux Basques.

Matador is the largest holder of ground along the Cape Ray shear, with its tenement boundary located approximately 50km along strike from Toronto-listed Marathon Gold’s 4.2-million-ounce Valentine Lake gold project.

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