A new review of historic data at the Window Glass Hill deposit. has added to Matador Mining Limited’s (ASX: MZZ) confidence in its news Cape Ray Gold Project in Newfoundland, Canada.
Window Glass Hill (WGH), which is located approximately 1km from Central Zone at Cape Ray, has been a major focus for the company’s 2019 exploration programme.
Executive Director Keith Bowes said that following the success of this programme, the company has undertaken a detailed review of all historical reports from this area to improve its understanding of the Window Glass Hill deposit, as well as help identify new targets for the future.
The most significant results identified through the review exercise were structural mapping and 144 previously unreported rock chip samples located over the Window Glass Hill granites. In combination with Matador’s 2019 field work, three priority exploration targets have been identified, all within 500m of the current resource.
Window Glass Hill has been a highlight of this year’s exploration programme with results indicating substantial growth to the existing resource and supporting our belief that this deposit will become a major part of the company’s future production strategy,” Mr Bowes said.
“This new data on structural mapping and rock chip samples, together with our own work in this area, clearly demonstrates the potential for further growth in the Window Glass Hill deposit.
“Encouragingly, we note that the mapping and rock chips associated with the two other vein sets align with the existing resource, as well as areas where we experienced exploration success this year. This provides additional confidence in the potential for these targets to add ounces to the resource, making them high priority targets for the Company when we recommence exploration activities in 2020.”
The three new targets are located along vein sets or second order splays and each has high-grade rock chips with the targets poorly tested by historical drilling. The high-grade rock chips for the three key targets are:
The Cape Ray Project was discovered by Rio Tinto during the 1970s. Since that time the Project’s ownership has been fragmented and passed through numerous junior exploration companies and prospectors’ hands. Matador was the first group to consolidate the southern portion of the Cape Ray shear, or 80km of strike earlier this year.