Matador Mining Limited (ASX: MZZ | OTCQB: MZZMF | FSE:MA3) has announced its results from a limited prospecting and sampling programme at its Hermitage tenements in Newfoundland, Canada.
Matador’s managing director and CEO, Sam Pazuki commented, “Hermitage hosts the largest antimony and arsenic regional government lake sediment anomaly in Newfoundland & Labrador. On the island of Newfoundland itself, Hermitage contains seven of the top ten antimony lake sediment anomalies.”
The company’s Hermitage landholding consists of 27km of continuous strike on the Hermitage Flexure – a major geological structure with multiple gold and other critical metals showings. The Hermitage Flexure is part of a large crustal scale suture zone that divides two major domains: the Dunnage and Gander Zones.
This structure propagates in an eastward trend from the Cape Ray Shear Zone (CRSZ), passing through the company’s Hermitage property, then trending northwards along strike through Newfound Gold’s Queensway Project.
The sample results have confirmed the first-known presence of significant gold in bedrock mineralization for the company at Hermitage, building upon anomalous historical samples within the broader mineral tenements.
The results identified an anomalous gold trend 400m across strike and located over five km along strike from an anomalous historical grab sample.
Key anomalous gold mineralization prospecting samples included:
- 7.31g/t (MR001252 – in situ sample)
- 2.10g/t (MR000861 – in situ sample)
- 1.04g/t (MR001259 – in situ sample)
“The prospecting activities completed during the Canadian autumn of 2022 were a major milestone for the company as it represented Matador’s first boots on the ground after staking it in June 2021. The results of the sampling have clearly demonstrated the presence of gold in bedrock, the first ever for the company and revealed multiple areas of interest we will explore in 2023 and beyond.” Added Sam.
To find out more, please visit www.matadormining.com.au
