Matador Mining begins 20,000-metre Cape Ray diamond drill program focusing on shallow gold for possible open pit mining

Matador Mining Ltd (ASX:MZZ) (OTCMKTS:MZZMF) (FRA:MA3) has started its 2021 diamond drilling program at the Cape Ray Gold Project in Newfoundland, Canada. The program aims to extend the gold footprint at known deposits while testing multiple new greenfield targets, all within 15 kilometres of existing resources. Three holes of the program have been completed, with the first target following up on potential high-grade extensions to the Window Glass Hill deposit, which remains open along strike and at depth. “Rapid progression to diamond drilling” In 2020 the average drill hole depth was only 120 metres, with 80% of the gold mineralisation encountered less than 80 metres from surface Matador executive chairman Ian Murray said: “Following our strong start to the 2021 season with the ramp-up of the auger drilling program, the rapid progression to diamond drilling is a credit to the exploration team. “The proposed program will be the largest completed by the company and we look forward to continuing this positive momentum with auger and diamond drill results over the coming months. “Similar to previous exploration programs, our primary focus is on shallow gold mineralisation suitable for open pit mining. “We anticipate in excess of 170 holes to be drilled on targets covering the full spectrum of pipeline stages, with the expectation of new targets being continually generated from our systematic approach.” Drill rig at the Window Glass Hill deposit. MSPU improves assay turnaround times A dedicated Mobile Sample Preparation Unit (MSPU), run by SGS Canada, has been installed next to the company’s core processing facility in Port aux Basque. The MPSU will significantly improve assay turnaround times for diamond and auger drilling compared to last year’s program. This improved turnaround time should allow the company to rapidly test new target areas and enhance the efficiency of the exploration program. Murray said: “In addition to the exploration program, the company is also advancing several other technical aspects relating to the Cape Ray Gold Project, including environmental permitting, metallurgical test-work and other project development studies. “Updates on each of these programs will be released in due course.” Brownfield and greenfield drilling The brownfield drilling program will initially focus on Window Glass Hill to Angus trend, which has excellent potential to contribute to additional mineral resource growth. With around three kilometres of prospective geology associated with shears and faults adjacent to, and striking through, the Window Glass Hill Granite, this area is a priority for early drilling. The greenfield program will consume considerably more drilling, as multiple high priority targets continue to be identified, all within 15 kilometres of existing mineral resources. None of the new targets identified have been previously effectively tested due to the shallow till cover (0.5 to 5 metres). The company is confident that exploration success at any of these prospects could significantly change the scope of the exploration program and could enhance the Project’s potential production profile.