Matador Mining Limited (ASX: MZZ; OTCQX: MZZMF; FSE: MA3) (“Matador” or the “Company”) is pleased to announce that interpretation of detailed magnetics, lithogeochemistry and historic data has doubled the known strike length of the highly prospective Window Glass Hill Granite (“WGHG”) Intrusion to over six kilometres at the Cape Ray Gold Project (the “Project”) Newfoundland, Canada.


Highlights:

  • Highly prospective WGHG intrusion defined over six kilometres strike length (hosting the 232Koz Au WGH and the 80Koz Au Central-PW Mineral Resources) (Figure1);
  • New detailed magnetics and bottom of hole (“BOH”) lithogeochemistry data demonstrate that an untested sheared wedge of the WGHG extends three kilometres further north-east along the Cape Ray Shear Zone (“CRSZ”) than previously interpreted, immediately north of the 519Koz Au Central Zone Mineral Resources (which are hosted in sheared sediments);
  • WGHG extension is hosted entirely within the CRSZ and buried under a shallow veneer of till, so has not been rock chip sampled, nor has it been targeted by diamond drilling, representing an exceptional untested structural target for gold mineralization;
  • Less than 15% of the six-kilometre strike length of the WGHG has been drill tested near surface, with most drilling to date limited to less than 120 vertical metres below surface, leaving significant discovery potential at depth;
  • Power auger sampling through till cover, and abundant surface rock chips with >1g/t Au in areas of outcrop (Figure 2), demonstrate the potential for vein-hosted gold mineralisation across the entirety of the highly altered and quartz-veined WGHG;
  • Recent WGHG Margin discovery1, achieved by using magnetics and geochemistry to “see through” the till cover, highlights the potential for multiple structurally-controlled gold mineralisations hoots to exist across the large but under-explored WGHG; and
  • To date there has been no drilling specifically targeting shear hosted mineralisation in sediments adjacent to the WGHG, which is considered an important mineralized zone in similar granite-hosted gold deposits (such as Red 5 Limited’s (ASX:RED) 6.1M o z King of the Hills Deposit in Western Australia).

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This article includes content from Matador Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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