Matador Mining Limited (ASX:MZZ) hits 18 metres at 11 g/t gold and 19 metres at 4.6 g/t gold following having received exploration drill results at the Cape Ray Gold Project in Newfoundland, Canada.
The project comprises 120 kilometres of continuous strike in the proven, yet under-explored multi-million-ounce Cape Ray Shear gold corridor where Matador is the largest landholder along the prospective shear zone.
To begin field work shortly
Executive charman Ian Murray said: “These new assay results continue to demonstrate the prospectivity of our Cape Ray Gold Project.
“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 program and will refine our strategy as we receive the final outstanding assay results.
“Matador aims to commence field work as soon as possible to maximise the field time available to us.”
2021 drill planning underway
Hole CRD162 is the highest-grade intersection drilled at Isle aux Morts and the best hole drilled by Matador on the project, with six additional holes at Isle aux Morts with results pending.
Recent greenfield exploration discovery, Angus, continues to deliver positive results including 6 metres at 2.18 g/t gold from 43 metres and 10 metres at 1.37 g/t gold from 58 metres.
Samples for 17 drill holes (2,422 metres) remain at the laboratory, with assay results expected this quarter and planning for the 2021 exploration season already under way.