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.