20,000m Diamond Drilling Programme Underway
Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF) has commenced its largest exploration campaign yet, with the 2021 diamond drilling programme at the company’s 100% owned Cape Ray Gold Project in Newfoundland, Canada.
This drilling programme, which is anticipated to continue through into the North American winter, is aimed at extending the gold mineralisation footprint at the known deposits while testing multiple new greenfield targets, all within 15 km of existing resources
In 2020 the average drill hole depth was only 120m, with 80% of the gold mineralisation encountered less than 80m from surface.
The first drill target is following up on potential high-grade extensions to the Window Glass Hill deposit, which remains open along strike and at depth
Executive Chairman, Ian Murray, said a dedicated Mobile Sample Preparation Unit (MSPU) has been installed next to the company’s core processing facility and this is expected to significantly improve assay turnaround times for diamond and auger drilling compared to last year’s programme
“Following our strong start to the 2021 season with the ramp-up of the auger drilling program, the rapid progression to diamond drilling is a credit to the exploration team,” Mr Murray said.
“The proposed programme will be the largest completed by the company and we look forward to continuing this positive momentum with auger and diamond drill results over the coming months.
“Similar to previous exploration programmes, our primary focus is on shallow gold mineralisation suitable for open- pit mining.
“We anticipate in excess of 170 holes to be drilled on targets covering the full spectrum of pipeline stages, with the expectation of new targets being continually generated from our systematic approach.
“In addition to the exploration programme, the company is also advancing several other technical aspects relating to the Cape Ray Gold Project, including environmental permitting, metallurgical testwork and other project development studies. Updates on each of these programmes will be released in due course.”
The brownfield programme will initially focus on the Window Glass Hill to Angus trend which has excellent potential to contribute to additional Mineral Resource growth. With approximately three kilometres of prospective geology associated with shears and faults adjacent to, and striking through, the Window Glass Hill Granite, this area is a priority for early drilling.
The greenfield programme will consume considerably more drilling, as multiple high priority targets continue to be identified, all within 15 kilometres of our existing Mineral Resources. None of the new targets identified have been previously effectively tested due to the shallow till cover (0.5 to 5 metres).
Mr Murray said Exploration success at any of these prospects could significantly change the scope of the exploration program and could enhance the Project’s potential production profile.
