Australia
Matador Mining focuses on expanding Cape Ray Gold Project resource base
Matador Mining Ltd (ASX:MZZ) is focused on expanding the resource base and life-of-mine at its Cape Ray Gold Project in Newfoundland, Canada as the June quarter comes to a close.
The company is looking to target the shallow open-pit deposits that support the overall objective of being one of the highest-grade open-pit operations in the world.
Before June quarter-end Matador set out its exploration strategy with the primary objective being to grow the resource base through brownfields expansion and new greenfield discoveries to a size that would support a 10-year gold mining operation.
As at June 30, the company had cash of $2.35 million.
Drilling has commenced[hhmc]
A 12,000 metre drilling campaign targeting resource expansion and greenfield prospects kicked off yesterday.
While the 2020 season will focus on priority brownfield targets, the company also plans to significantly increase the greenfield exploration programs.
The ultimate aim of the 2020 program is to build a consiste..
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