Matador Mining Expands WGHG Gold Discovery with Executive Chairman Ian Murray
Matador Mining (ASX:MZZ | OTCQX:MZZMF | FSE:MA3) has expanded the Window Glass Hill Granite (WGHG) known gold mineralization by 75 metres along strike. Assays have been received for six holes of an 18-hole drill program designed to test strike extensions of the high-grade gold discovery at the WGHG Margin Target south of the WGH Mineral Resource. Two standout holes, CRD277: 32 metres at 2.6 g/t Au from 14 metres (incl. 2 metres at 28.9 g/t Au) and CRD279: 18 metres at 1.2 g/t Au from 146 metres (incl. 2 metres at 5.4 g/t Au), extend the high-grade Granite Margin Target mineralisation by at least 40 metres west and 75 metres south-west of the discovery holes (CRD214: 19 metres at 4.2 g/t Au2 and CRD212: 8 metres at 5.1 g/t Au and 22 metres at 1.2 g/t Au3).
Executive Chairman Ian Murray commented: “The high-grade WGHG Margin Target continues to impress with the latest results for CRD277 eclipsing CRD214 (19 metres at 2.4 g/t Au)1 (50 metres north-east) as the best significant intercept drilled within the WGHG. It is equally exciting that this high-grade mineralisation commences only 11 vertical metres below surface. An additional 12 holes have been completed to test the potential of a further +500 metre strike-extent of the prospective Granite Margin immediately north-east of these recent significant intercepts. There is still over five kilometres of strike of the WGHG Margin remaining to be drill tested. In addition, 31 diamond drill holes have been completed across three other target areas, including Big Pond, other WGHG greenfield targets and the WGH Mineral Resource Infill. Drilling will continue on the WGH infill program until winter weather sets in. With results pending for at least 43 diamond drill holes, we expect continued news flow until the start of our planned potential winter drilling program aimed at drill testing a new suite of greenfield targets.”
Matador Mining is a gold exploration company with tenure covering 120 kilometres of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland, Canada. The Company released a Scoping Study which outlined an initial potential seven-year mine life, with a forecast strong IRR (51% post Tax), rapid payback (1.75 year) and LOM AISC of US$776/oz Au (ASX announcement 6 May 2020).1 The Company is currently undertaking the largest exploration program carried out at Cape Ray, with 45,000 metres of drilling, targeting brownfield expansion and greenfields exploration.
0:00 Introduction
0:48 WGHG drill results
5:34 Many drill results coming over next 3mos
7:08 Matador awarded CIM NL 2021 Explorer of the Year
9:33 Ian’s recent London meetings
11:00 Matador’s undervaluation
