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(
ASX:MZZOTCQX:MZZMF
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Matador Mining continues accelerating exploration at Cape Ray Gold Project in Newfoundland

Snapshot

  • Matador Mining maintains Speculative Buy rating from Canaccord Genuity as Cape Ray Gold Project drilling delivers
  • Matador Mining is the only way to play the Newfoundland gold rush on the ASX: Canaccord Genuity
  • Matador Mining reports its best ever drill hole outside existing resources at Cape Ray
Matador Mining Ltd -

Quick facts: Matador Mining Ltd

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ASX:MZZ

Price: 0.355 AUD

Market Cap: $76.01 m

About the company

Matador Mining Ltd (ASX:MZZ) is a gold exploration company with tenure covering 120 kilometres of continuous strike at the highly prospective, yet largely under-explored Cape Ray Project in Newfoundland, Canada.

The company believes Cape Ray has great potential to become a large gold operation and is planning extensive exploration to expand the project's mine life.

The project hosts a resource of about 840,000 ounces at 2 g/t gold, with 96% of the resource less than 200 metres from the surface and is supported by existing infrastructure including roads, water, availability of skilled workforce and low-cost grid power access.

How it is doing

24 Sep 2021

Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) has maintained a Speculative Buy rating with a A$0.70 price target by Canaccord Genuity (TSX:CF, LSE:CF) as its drilling at the Cape Ray Gold Project in Newfoundland, Canada, delivered on a number of fronts. 

The broker reiterated MZZ’s “straightforward strategy” of incrementally growing its existing 837,000-ounce resource, while testing its extensive tenure for new discoveries.

Canaccord believes it demonstrates likely resource growth, with a strong intercept and further staked lodes encountered just outside the current 232,000 ounces at 1.6 g/t gold resource.

The drill results are the best ever result at the deposit, it added.

21 Sep 2021

Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) has intersected 19 metres at 4.2 g/t gold during a diamond drilling campaign at the Cape Ray Gold Project in Newfoundland, Canada.

The 19-metre hit, which occurred from 9 metres, also included 1 metre at 30.6 g/t and 1 metre at 24.1 g/t and marked its best-ever result from the Window Glass Hill Granite (WGHG) region and shares are up 7.35% to A$0.365.

07 Sep 2021

Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) has received highly encouraging power auger drilling results of up to 55.4 g/t gold from the Big Pond greenfields target of the Cape Ray Gold Project in Newfoundland, Canada.

Results from the systematic 200 x 50 metre-spaced power auger drilling across the 4 square kilometres target have delivered multiple bottom-of-hole (BOH) anomalies.

Insight: Matador Mining is the only way to play the Newfoundland gold rush on the...

15 Jul 2021

Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) (ASX:MZZ) (OTCMKTS:MZZMF) (FSE:MA3) is exploring for gold at the Cape Ray Gold Project in Newfoundland, an island off the east coast of Canada.

Newfoundland is a geologically intriguing destination where the suture of two ancient continents (Laurentia and Avalon), once divided by the prehistoric Iapetus Ocean, hosts a number of gold occurrences, most notably Marathon Gold Corporation's (TSE:MOZ) +4 million ounces Valentine development.

What management says

21 Sep 2021

Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF)'s Warren Potma tells Proactive they've intersected 19 metres at 4.2 g/t gold during a diamond drilling campaign at the Cape Ray gold project in Newfoundland, Canada. The 19-metre hit, which occurred from 9 metres, also included 1 metre at 30.6 g/t and 1 metre at 24.1 g/t and marked its best-ever result from the Window Glass Hill Granite region.

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Matador Mining reports its best ever drill hole outside existing resources...

Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF)'s Warren Potma tells Proactive they've intersected 19 metres at 4.2 g/t gold during a diamond drilling campaign at the Cape Ray gold project in Newfoundland, Canada. The 19-metre hit, which occurred from 9 metres, also included 1 metre at 30.6 g/t and 1...

4 days, 18 hours ago

3 min read