Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF) has received the final outstanding assay results from diamond drilling completed in late 2021 at the Cape Ray Gold Project in Newfoundland, Canada.
Highlights:
• CRD318 (WGH-Infill): – 14 metres at 4.5 g/t Au from 88 metres (incl. 1 metre at 27.4 g/t Au from 90 metres and 1 metre at 17 g/t Au from 91 metres) – 15 metres at 2.9 g/t Au from 10 metres (incl. 1 metre at 24.1 g/t Au from 18 metres) and – 1 metre at 3.5 g/t Au from 72 metres
• CRD322 (WGH-Infill): – 23 metres at 2.3 g/t Au from 22 metres (incl. 1 metre at 16.6 g/t Au from 38 metres) and – 7 metres at 0.9 g/t Au from 78 metres (incl. 1 metre at 2.1 g/t Au from 84 metres)
• Gold mineralisation remains open to the south and south-west of the WGH-Infill high-grade mineralisation intersected in CRD322
• CRD313 (WGHG-HSP): 0.9 metres at 13.2 g/t Au from 9.4 metres
• CRD313 demonstrates near-surface gold potential of the previously undrilled WGHG Heart Shaped Pond (HSP) target adjacent to existing WGH Mineral Resource.
“The final 2021 WGH infill drill hole assay results have exceeded our expectations. CRD318 intersected multiple high-grade gold zones within two wide intervals of mineralisation consistent with our interpreted position of a higher-grade plunging shoot at the core of the WGH deposit,” Matador’s Chief Geologist, Warren Potma, said.
“CRD322 is particularly encouraging as this hole was drilled to the south and on the periphery of this same high-grade shoot and surprised us with the quality of a 23 metre intercept grading 2.3 g/t Au.
“Gold mineralisation is open for at least 80 metres south and south-west of CRD322 presenting a high priority follow-up target that may eventually link up with the WGHG Margin target area identified through 2021 to the south-west.
“The first results from drill holes targeting a historic drilling gap, just west of the WGH Resource, at Heart Shaped Pond (WGHG-HSP) also delivered an encouraging high grade gold intercept (CRD 313) that is open for at least 80 metres in all directions.”
WGH Mineral Resource Infill Drilling Results
CRD318 intersected two broad mineralised corridors, which contained internal high grade gold intervals (15 metres at 2.9 g/t Au from 10 metres including 1 metre at 24.1 g/t Au, and 14 metres at 4.5 g/t Au from 88 metres including consecutive 1 metre at 27.4 g/t Au and 1 metre at 17 g/t Au intervals).
These results reinforce Matador’s confidence in the consistency of an interpreted higher-grade plunging shoot at the core of the WGH Mineral Resource.
This domain hosts a higher frequency of mineralised veins, with infill drilling both confirming and extending the dimensions of this zone.
The company said the positive results from CRD322 (23 metres at 2.3 g/t Au from 22 metres including 4 metre at 8.8 g/t Au) demonstrate the potential for this domain to extend further south than previously recognized, and potentially link with the WGHG Granite Margin Target to the south-west.
Drilling south and west of CRD322 remains broadly spaced with further infill and extension drilling planned for the 2022 summer season.
Initial drill results from the previously untested WGHG-HSP area, north-west of the WGH Mineral Resource high-grade zone, returned a significant intercept of 0.9 metre at 13.2 g/t Au from 9.4 metres (CRD313).
CRD313 redrilled (twinned) another hole (CRD313A) which had to be abandoned due to drilling conditions but returned 4 metres at 3.0 g/t Au from 9 metres (incl. 2 metres at 3.9 g/t Au and 2 metres at 2.2 g/t Au) in two 2-metre sample intervals affected by core loss.
Several other holes from the WGHG-HSP drilling returned significant gold intercepts >0.5 g/t cut-off.
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