Matador Mining has early power-auger drilling success at Cape Ray in Canada with sulphides observed

Matador Mining Ltd (ASX:MZZ) (OTCMKTS:MZZMF) (FRA:MA3) has had early success in its 2021 power-auger drilling program at the 100%-owned Cape Ray Gold Project in Newfoundland, Canada, with sulphide-bearing quartz veins observed A total of 14 priority targets have been generated from interpretation of detailed ground magnetics and historic surface geochemistry between the Window Glass Hill (WGH) and Big Pond deposits with 230 auger holes already completed.  As well as the veins, initial visual inspection of multiple bottom-of-hole auger core samples has confirmed strong alteration similar to gold mineralisation in diamond drill core from the WGH deposit. “Strong start to 2021 field season” The systematic auger drilling program, combined with multi-element geochemistry, is a key tool the company is using to unlock the vast exploration potential at the project.  Matador executive chairman Ian Murray said: “This is a very strong start to our 2021 field season with over 230 auger holes drilled.  “A large portion of the Window Glass Hill Granite area has now been tested with encouraging visual results returned from bottom of hole core samples.  “These samples still need to be assayed, with results expected during this quarter, but the team is confident based on visual inspection alone, that several new diamond drilling targets have been identified. “With new exploration work programs ramping up every week, this promises to be an extremely busy period for the company on multiple fronts.”  Priority target area between Big Pond and Window Glass Hill deposits.  Window Glass Hill Granite The 2021 field season kicked off with the systematic power-auger drill program, comprising both ATV-mounted and hand-held power-auger drills operating across the Window Glass Hill Granite (WGHG).  This extensive area of deformed granite hosts the WGH Deposit and the 2020 Angus discovery and already has multiple areas of interest defined from a detailed ground magnetic survey completed in 2020 and historical rock chip sampling. There has been no systematic exploration of the WGHG away from the known deposits, and no previous exploration of the potential shear-zone hosted gold targets buried under thin till cover surrounding the margins of the WGHG. The ATV-mounted power-auger rig is ideal for sampling areas where till cover is greater than 1-metre deep, while the hand-held power-auger drill is optimised for sampling outcrop and through very shallow cover. Looking forward The samples generated from both drills are of high quality, allowing the geologists to confidently identify veining and alteration features similar to those observed in mineralised diamond drill core samples from the WGH and Angus deposits.  All core samples collected will be assayed using detailed multi-element geochemistry. Twelve key pathfinder elements are being used to map basement mineralisation footprints which have been demonstrated to extend up to 100 metres away from mineralised gold deposits across the project.