Toronto-based CI Investments Inc now holds 16.4 million shares in the company, following the purchase of more than 3.6 million shares in multiple transactions between August 9 and August 25.
Evidence of Cape Ray golden bounty
The Newfoundland-based explorer delivered further strong results from its Cape Ray Gold Project on August 26, with the Window Glass Hill Granite area providing high-grade gold results of up to 36 g/t outside the existing 230,000-ounce resource.
Matador’s confidence in Cape Ray has increased further with strong diamond drilling results and systematic power auger drilling indicating that gold mineralisation is more extensive than previously identified.
Widespread mineralisation has been uncovered in previously undrilled areas with around 50% of the 3- kilometre-long and 0.5 kilometres-wide WGHG never tested with diamond drilling.
Power auger bottom-of-hole core assays up to 2.4 g/t gold have been returned in previously untested areas and have generated five new high priority drill targets.