Matador Mining Limited (ASX: MZZ) continues to grow the known mineralisation at the Window Glass Hill area with exploration drilling success at the company’s 100% owned Cape Ray Gold Project in Newfoundland, Canada.
Executive Chairman, Ian Murray, said the latest drilling at Window Glass Hill intersected multiple, near surface, high-grade gold lodes. The results include:
- 8.0m at 5.5 g/t Au from 43m (70m outside existing Mineral Resource wireframes);
- 1.0m at 14.7 g/t Au from 19m,
- 21m at 1.0 g/t Au from 92m, including 1.0m at 4.5 g/t Au from 122m;
- 13m at 1.0 g/t Au from 86m; and
- 2.0m at 1.4g/t Au from 18m.
Assay results at Window Glass Hill continue to impress and highlight its resource growth potential. The most recent results are in-line with previously reported results and indicate potential for multiple, high- grade gold lodes close to surface,” Mr Murray said.
“The standout from the most recent results was hole CRD168 (8.0 at 5.5 g/t Au from 43m) due to its grade, width, shallow depth. This high-grade intercept is 70m from the existing Window Glass Hill Mineral Resource wireframes and remains open to the north-west in a previously untested area.
“Coupled with the new discovery at depth, the company has multiple high-confidence drill targets at Window Glass Hill to test when exploration recommences next quarter.
“The company is finalising its planned exploration programme for 2021 and will provide an update early next quarter.”
During 2020, the company extended mineralisation at Window Glass Hill along strike (towards the south-west) as well as discovering a new high-grade lode at depth. The deposit remains open in both directions.
Following a relatively mild winter in Newfoundland, the company anticipates an earlier mobilisation to site in April 2021 in preparation for the exploration season.
Multiple expansion drill targets have been identified at Window Glass Hill and will be targeted during the upcoming 2021 exploration season.
The Cape Ray Gold Project comprises of 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.