Matador Mining Limited (ASX: MZZ) has intersected impressive gold grades and widths in resource drilling at the Isle aux Morts prospect within in Cape Ray Gold Project located in Newfoundland, Canada.
Cape Ray comprises 120 kilometres 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.
Executive Chairman, Ian Murray, said hole CRD162, which returned 18 metres @ 10.96 g/t Au from seven metres (incl. 1.0 metre @ 79.93 g/t Au), is the highest-grade intersection drilled at Isle aux Morts and the best hole drilled by Matador on the Project.
These new assay results continue to demonstrate the prospectivity of our Cape Ray Gold Project,” Mr Murray said.
“The grades and widths intersected at Isle aux Morts exceed those in the surrounding holes and represent some of the highest grade holes drilled on the tenement package.
“With a further six holes from Isle aux Morts pending assays, and 17 holes still in the laboratory, we aim to build on our recent successes.
“We are well advanced on planning for our 2021 exploration programme and will refine our strategy as we receive the final outstanding assay results.
“We aim to commence field work as soon as possible to maximise the field time available to us.”
The latest results support the broad spaced historical Mineral Resource drill hole intercepts, and significantly improve the resource potential on the smaller scale, providing the company with new insight into possible structurally controlled higher-grade shoots that require further investigation.
Assays are pending for an additional six infill holes.
Meanwhile, new results from the Angus propscet continue to deliver wide intercepts of stockwork-vein-related gold mineralisation similar to those previously reported in November and December 2020.
Mr Murray said these results reinforce Matador’s view that Angus is a large, pervasively mineralised, granite-hosted, quartz-vein stockwork gold mineral system which remains open in all directions.
Angus has now delivered seven holes with >20 g.m (grams x metres) gold in hole (above a 0.2 g/t Au cut-off) across a 300m x 400m area, including the original discovery hole (CRD126 – 20 metres @ 2.38 g/t Au incl. 9 metres @ 4.99 g/t Au.
The Angus stockwork vein system remains open in all directions.