Matador Mining (ASX:MZZ) has identified 33 new gold targets at the Cape Ray Gold Project in Newfoundland, Canada. The company has recognised 12 of these targets as high priority prospects and plans to test them through drilling in 2021.
The ongoing high-resolution magnetic surveys have identified a structural trend. The structure is being tested using a portable drill rig to sample soils and rocks from shallow depths. Matador Mining has completed the review of historical drilling and mining data and realises that only 20 holes were historically drilled on the 105 km stretch of the prospect.
Matador Mining traded at $0.395 a share on 29 October 2020 (1:44 PM AEST) with a market capitalisation of $68.87 million.