Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) has confirmed the presence of high-grade gold as well as silver and copper in sampling at Malachite target along the Cape Ray Shear Zone (CRSZ) of the Cape Ray Project in Canada.
“Following the Canadian summer field program that included comprehensive prospecting, mapping and sampling at Malachite and adjacent properties, we have received initial assay results that demonstrate the presence of gold in this highly prospective area,” Matador Mining managing director and CEO Sam Pazuki said.
“These initial assays confirm the first-ever significant gold sampled in bedrock. These occurrences were from our MAL03 target and associated with a large area of outcropping quartz veins.
"Recent prospecting and sampling activities at the MAL03 target identified additional sulphide-bearing quartz veins striking over a sizeable area. It is also an area that we have drill tested as part of the Fall 2022 diamond drilling program (assays pending).”
Initial rock chip results
The company’s prospecting and sampling program identified the first known bedrock samples at Malachite with notable gold mineralisation. High-grade results (in parts per billion or ppb) include:
- 15,300 ppb gold (15.3 g/t), 74.4 g/t silver and more than 1% copper from a boulder nearly five kilometres southwest of the MAL03 target (near Grandy’s target area);
- 7,470 ppb gold (7.5 g/t) from a quartz vein float sample five kilometres west-southwest of MAL03;
- 4,890 ppb gold (4.9 g/t) from a boulder nearly four kilometres southwest from the MAL03 target; and
- 3,800 ppb gold (3.8 g/t) and 1,830 ppb gold (1.8 g/t) and 1,490 ppb gold (1.4 g/t) from three separate in-situ rock chips from large outcropping quartz vein array at the MAL03 target.
Malachite 2022 gold in rock chip and till samples.
Comprehensive 2023 exploration program
“Although we have a considerable amount of work ahead of us, we are highly encouraged by the results of the fieldwork,” Pazuki continued.
“The initial drilling at Malachite was designed to be a modest diamond drill program to test specific structures in the vicinity of some of the high tenor gold grain anomalies and from the prospecting work.
“This initial drill program was curtailed recently due to inclement weather and we drilled approximately 1,700 metres of the 3,000 metres planned with several holes completed across MAL01, MAL02 and MAL03 target areas.
“Once we have received all the data from the summer and autumn fieldwork, we will then fine-tune our 2023 exploration program.
“My expectation is that we will have a comprehensive exploration program in 2023 that includes diamond and reverse circulation (RC) drilling, additional prospecting, mapping and sampling and specific geophysics.”
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