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- Matador Mining (MZZ) discovers anomalous gold mineralisation through a 2022 prospecting program at its Long Range target area in Newfoundland, Canada
- Prospecting yielded a peak gold value of 0.77 grams per tonne (g/t) gold along with anomalous pathfinder elements including silver, bismuth, copper, lead and tellurium
- Matador says the Long Range area now ranks as a high-grade, in-situ, gold-bearing diamond drill target for the company in 2023
- The Long Range target lies along Matador’s Cape Ray project, which also holds the Malachite target at which MZZ plans to complete the bulk of its 2023 exploration
- Matador Mining shares last traded at 8.5 cents on Wednesday, February 22
Matador Mining (MZZ) has discovered anomalous gold mineralisation through a 2022 prospecting program at the Long Range target within its Cape Ray project in Newfoundland, Canada.
Prospecting at Long Range yielded a peak gold value of 0.77 grams per tonne (g/t) gold along with anomalous pathfinder elements including silver, bismuth, copper, lead and tellurium.
Matador said Long Range now ranked as a “high-grade, in-situ, gold-bearing” diamond drill target for the company in 2023.
Matador Mining CEO and Managing Director Sam Pazuki said although the company planned to conduct most of its 2023 exploration work across the Malachite target in the Cape Ray project area, it would also undertake low-cost, high-value work in other areas including Long Range.
“The Long Range target area is another large area in our portfolio that is only 10 kilometres away from Channel-Port aux Basque and easily accessible from the Trans-Canada Highway,” Mr Pazuki said.
The Long Range target area hosts the Windsor Point Group in an analogous structural setting to Matador Mining’s Central Zone gold deposits.
Tellurium values at the Long Range target area peak at 89 parts per million (ppm), which could indicate a different mineralising fluid association that could point to gold.
Matador will conduct follow-up prospecting, mapping and sampling at Long Range later this year.
Matador Mining shares last traded at 8.5 cents on Wednesday, February 22.
