Matador Mining Limited (ASX:MZZ) has staked an additional mineral licence within the Bunker Hill target area located in Newfoundland, Canada.
With the additional licence, the company now holds all six of the mineral licences in the highly prospective Bunker Hill target area.
“We are pleased to now hold all mineral licences within the vast Bunker Hill target area,” Managing Director and CEO, Sam Pazuki, said.
“By securing these licences, we can now fully explore Bunker Hill and specifically in the newly staked mineral license area that is proximal to historic high-grade outcropping samples that returned 18.68g/t and 12.23g/t gold.
“The Bunker Hill target area is geologically attractive with a major east-west structural bend in the Cape Ray Shear Zone. It has favourable lithologies for gold deposition including windows of the highly prospective Windsor Point Group sediments and highly anomalous gold and pathfinder elements including.
“Historic and more recent Matador prospecting results have indicated the presence of high-grade gold, silver and copper float and in-situ samples along with other key pathfinder elements.”
Overview of New Licences
The amalgamation of this land package through the east-west portion of the Cape Ray Shear Zone (CRSZ) is an important milestone for the company allowing for the consolidation of the along strike structural trend that’s proximal to the high-grade rock samples identified in the BHL01 target. In addition to this, the eastward continuation of the complex structural trend from the Malachite target area is also wholly under ownership of the company. Supplementing this, the new parcel of land is also the western bounds to the historical surficial geochemical trend anomalous in favourable path finder elements as identified in the previous ASX release.
Planned 2023 Exploration Activities
In 2023, the company plans to continue the regional prospecting, mapping and surficial geochemistry campaigns. In addition, an Induced Polarization (IP) survey is planned at BHL01 to delineate the sulphide bearing system sub- surface and generate targets for future diamond drilling.
For further information please visit: https://matadormining.com.au/
