Hits Four Separate Zones In One Hole
Matador Mining Limited (ASX: MZZ) has intersected four high-grade gold zones, including a newly discovered lode below the existing Mineral Resource in a single hole at the 100% owned Cape Ray Gold Project located in Newfoundland, Canada
The bonanza hole was amongst the latest exploration drill results received from the Cape Ray Gold Project which comprises 120 km of continuous strike in the proven, yet under-explored multi-million ounce Cape Ray Shear gold corridor. Matador is the largest continuous land holder along this highly prospective shear zone.
Significant intercepts from drill hole CRD151 at the Window Glass Hill deposit include:
o 10.5 metres @ 2.38 g/t Au from 58.5 metres;
o 1.1 metres @ 5.0 g/t Au from 77.3 metres;
o 7.1 metres @ 6.93 g/t Au from 118.5 metres; and
o 2.0 metres @ 6.91 g/t Au from 154.1 metres (New high-grade zone).
The company has also reported that final results from the recent “Angus” greenfield exploration discovery have extended the mineralisation footprint to 450 by 300 metres. Angus remains open in all directions as well as at depth. Significant intercepts include: 7.0 metres @ 1.2 g/t Au from 76m.
“The majority of drilling completed so far at Window Glass Hill, our second largest deposit (232koz Au1) has been to a maximum depth of only 120 vertical metres. Drill-hole CRD151 was drilled in our recent field season to test the depth potential below the existing Mineral Resource,” Executive Chairman, Ian Murray, said.
“To be able to report multiple zones of high-grade mineralisation, including a new zone below the existing Mineral Resource, is very exciting. The intersection of higher gold grades over greater widths than anticipated within the existing Mineral Resource area in three mineralized horizons demonstrates the upside potential of this important Resource. Both factors are expected to add to the mineral inventory and improve the quality of the Cape Ray Project.
“Additionally, we received the final results from our new greenfield discovery, Angus. The footprint of this deposit has now expanded to 450 by 300 metres and remains open in all directions. With all 2020 results now received for Angus, including the majority of the multi-element geochemistry, our team can commence the detailed analysis and geological interpretation of this discovery which will underpin our 2021 exploration strategy for Angus, as well as other greenfield targets in our vast, but under-explored tenement holding.”
