Matador Mining (ASX:MZZ) has announced its September quarterly update. During the quarter the company discovered of a new gold deposit (Angus) at the Cape Ray Gold Project in Newfoundland. The discovery of deposit is first in 20 years and lies one km south-west of the Window Glass Hill Deposits.
Angus discovery has different gold mineralisation than the Window Glass Hill Deposit, indicating a third mineralisation style in the area.
- 12m at 3.8 g/t Au from 85m
- 35m at 0.52 g/t Au from 34 m & 10 m at 0.67 g/t Au from 15m (Same hole)
Matador Mining has mobilised latest exploration technologies to the field ranging from multi-element geochemical and spectral mineralogy to ground and air magnetic followed by an extensive drilling program.
During this quarter the company further strengthened its capabilities by hiring two Non-executive directors and a highly experienced exploration manager.