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Matador's Cape Ray gets maiden resource

7th August 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Matador Mining has reported a maiden mineral resource of 750 000 oz at its Cape Ray gold project, in Canada.

The project is also estimated to host some 2.7-million ounces of silver.

Matador MD Paul Criddle said on Monday that the maiden resource was a significant milestone for the company as Matador prepared to start with its maiden drill programme to continue exploring the productive shear hosted gold system.

“56% of the resource base has been classified as indicated resource within the maiden resource, which positions the project well to further grow the resource with confidence as we progress towards developing a world-class mineral province,” said Criddle.

The resource remains open in all directions, with significant scope for quick expansion on strike and at depth, with drilling to start immediately, Matador said.

Edited by Creamer Media Reporter

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