Matador Mining Limited (ASX: MZZ) has identified a number of new structures through a successfully completed Phase One, high-resolution heli-mag geophysics programme at the Cape Ray Gold Project in Newfoundland, Canada.
Preliminary analysis from this programme has already identified a large number of previously unrecognised and untested structures. The company has also expanded drilling activities, with five active drill rigs, including two diamond drill rigs and three power auger drill rigs.
Highlights
- Phase One of the high-resolution heli-mag programme has been completed, covering 40 kilometres of strike along the central part of Project. Preliminary analysis has identified multiple new structures that are being prioritised for drilling
- Auger drilling is underway at the BE_1-3 targets, testing a five km long gold trend associated with multiple structures recently identified from the heli-mag programme, as well as historic high-grade rock chip gold samples up to 191 g/t Au
- 855 power auger drill holes have been completed over a six sq. km area between the Big Pond (BP) and Window Glass Hill (WGH) deposits (Target Area One). Multi-element geochemistry assay results are pending
- Drilling has increased to two double-shift diamond drill rigs and three power auger rigs
Executive Chairman, Ian Murray, said the importance of high-resolution magnetics at the Project cannot be underestimated, as all deposits discovered to date are located on important splay structures off the main Cape Ray shear.
“Preliminary analysis from the programme is highly encouraging, with multiple new structures identified in areas where limited historical exploration has occurred. With further analysis, additional structures will likely be identified in the coming months.
“With five rigs now active at site, the team is focused on ramping up both our diamond and auger drilling and delivering quality results from these programmes. Like many others in the industry, we are experiencing slow assay turn-around times.
“However, with the foresight to establish a mobile sample preparation laboratory on- site we anticipate assay turnaround to improve to industry-best levels.”
Power auger drill holes completed across five priority greenfield target areas
The Window Glass Hill Granite (WGHG) and Big Pond (BP) areas contain five of the 33 priority greenfields target areas reported in 2020. Power auger drilling in this area has now been finalised with 855 drill holes.
This programme equates to approximately 3,000 metres drilled, based on an average drill hole depth to basement of approximately 3.5m.
The power auger technique provides a short diamond drill core sample of the fresh basement rocks at the bottom of the hole, as well as a traditional base of till sample. Geochemical analysis of these samples is underway (assays pending) which will be integrated with the detailed magnetics to provide well constrained (de-risked) diamond drill targets for follow-up testing in the latter part of the 2021 season.
The WGHG area has also been the major focus of our initial diamond drilling this season. Drilling targeted lateral and depth extensions to the existing WGH Mineral Resource and follow-up drilling at Angus. A second diamond drill rig has been mobilized to site and has commenced drilling on double shifts.
One rig is now focused on undrilled greenfields exploration targets within the greater WGHG area, while the second rig is undertaking infill and extensional drilling in the WGH Mineral Resource area.
