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.
- Thursday May 21, 2020, 12pm (AEST);
- Link to register: https://us02web.zoom.us/webinar/register/WN_O40O-a7HQSCp6SqT77N06g;
- You will be able to view a webinar and presentation;
- Please send questions to John Phillips - [email protected] before or during, or call John on 0431 597 771 with any questions.