Matador Mining Limited (ASX:MZZ) (MZZO) is pleased to announce that it has commenced a development study ("Development Study") to assess the potential for gold production at its 100% owned Cape Ray Project ("Project") in Newfoundland, Canada.
Matador Mining Limited
Matador Mining Limited (ASX:MZZ) is a gold exploration company with tenure covering 80km of continuous strike along the highly prospective, yet largely under-explored Cape Ray Shear in Newfoundland, Canada. Within the package is a 14km zone of drilled strike which hosts a JORC resource of 1.02Moz Au (14.25Mt at 2.2g/t Au) The exploration opportunity at Cape Ray is extensive, with only a small portion of the 80km strike drilled, and high-grade gold occurrences observed along trend. The current drilling program is part of a larger-scale exploration and project development plan that is focused on unlocking the value in this considerable package.