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Matador Mining to present Canadian gold story at Proactive online conference on Thursday

A newly released scoping study for the Cape Ray Gold Project provides a solid platform for future growth as a standalone mining and processing operation.

Matador Mining Ltd - Matador Mining executive director Adam Kiley to present at Proactive online conference on May 21
Matador’s flagship Cape Ray Gold Project is in Newfoundland, Canada

Matador Mining Ltd (ASX:MZZ) executive director Adam Kiley will present at an online conference held by Proactive this Thursday, May 21, with registrations welcome.

From 12 noon AEST Kiley will outline the company’s progress at the 1.2-million-ounce Cape Ray Gold Project in Newfoundland, Canada.

A feature of the online presentation will be the participation of newly appointed executive chairman Ian Murray.

Positive financial metrics

Preliminary economics from a scoping study for the project reveal positive financial metrics over an initial mine life of seven years with capital payback during the first 1.75 years of the project’s life.

This decreases to 1.5 years based on the current gold spot price of US$1,700 and the first year of production includes a 6-month ramp-up to full throughput capacity.

The primary objective for the company is to expand the resource base in order to then extend the life of mine, with a focus on shallow open pit deposits that support the overall objective of being one of the highest-grade open cut operations in the world.

Matador's next steps

Plans for the next field season:

  • Extensional drilling around the current deposits (specifically Window Glass Hill and Isle aux Mort) to expand the known resources;
  • Infill drilling to upgrade the inferred resources to measured and indicated status;
  • Greenfield target development utilising ground magnetic surveys, soil sampling, mapping and trenching; and
  • Assuming successful greenfield targets are identified, drilling will be undertaken.

Conference details

Quick facts: Matador Mining Ltd

Price: 0.37 AUD

ASX:MZZ
Market: ASX
Market Cap: $46.03 m
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