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ASX:MZZOTCQX:MZZMF
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Matador Mining substantial holder CI Investments increases stake to 7.76%

The company anticipates ongoing news flow moving forward at its Cape Ray Gold Project in Newfoundland, Canada, with five rigs active in the field.

Matador Mining Ltd -

Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF)’s substantial holder CI Investments Inc has increased its stake in the company to 7.76% from 6.07%.

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.

Quick facts: Matador Mining Ltd

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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...

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