- Matador Mining (MZZ) intersects up to 30.6 grams of gold per tonne (g/t) from the Cape Ray Gold Project in Newfoundland, Canada
- Results come from the Window Glass Hill Granite (WGHG) region where 11 diamond holes were drilled along a previously untested area
- These new results highlight the potential that mineralisation is continuous to the southwest and south of the existing resource
- Assays are pending for a further 13 holes and will be reported on in due course
- Shares in Matador are up 4.41 per cent on the market and are trading at 35.5 cents at 10:31 am AEST
Matador Mining (MZZ) has intersected up to 30.6 grams of gold per tonne (g/t) from the Cape Ray Gold Project in Newfoundland, Canada.
Results come from the Window Glass Hill Granite (WGHG) region where 11 diamond holes were drilled along a previously untested area.
The WGHG is roughly three kilometres long, up to 800 metres wide and less than 50 per cent has been tested by drilling.
Surface rock chip assays and power auger geochemistry across the undrilled areas indicates that gold mineralisation and pathfinder anomalies are present across the entire WGHG.
Best results include 19 metres at 4.2g/t gold from nine metres including one metre at 30.6g/t gold and one metre at 24.1g/t gold; and four metres at 2.6g/t gold from 70 metres including one metre at 6.5g/t gold.
These new results, and results from last year’s drilling, highlight the potential that mineralisation is continuous to the southwest and south of the existing mineral resource.
Assays are pending for a further 13 holes and will be reported on in due course.
Executive Chairman is pleased with the intercept.
“19 metres at 4.2g/t gold is the best gold intercept drilled in the WGHG, and better than any previously reported ‘significant intercepts’ within the WGH mineral resource,” Mr Murray commented.
“What makes this intercept even more exciting is the proximity of the high-grade mineralisation to surface, and that it represents the successful definition of a new target type within the WGHG.”
Shares in Matador were up 4.41 per cent on the market and were trading at 35.5 cents at 10:31 am AEST.