High-Grade Gold in Newfoundland, Canada
Coffee with Samso Episode 35 with Keith Bowes, Executive Director, Technical, Matador Mining Limited (ASX: MZZ)
It’s always good to talk to a company with a trailblazing story to tell, so I was delighted to sit down with Keith Bowes of Matador Mining to hear some details behind their pioneering high-grade gold mining in Canada.
Matador was the first Australian gold developer to enter the Canadian gold market following the acquisition of its Cape Ray project in 2018.
Located in the south of Newfoundland, a large island east of the Canadian mainland, the Cape Ray gold project is in the Cape Ray Shear, a geological structure that extends around 400 kms. through Newfoundland and is regarded as one of the most prospective yet under-explored regions in North America.
Matador consolidated the southern portion of this geological structure, with its tenure extending across approximately 65 kms. of a potential strike.
Following a review of historical drilling, as well as completion of the company’s inaugural drill programme during late 2018, a JORC resource of 1.02Moz Au at an average grade of 2.2g/t was defined at the project.
This resource is contained within four areas covering a total strike of around 14kms. The majority of the source is at the Central Zone, which hosts more than 800,000oz of gold at a grade of 2.6g/t Au. This Central Zone shows excellent potential for future open pit operations as well as significant underground potential.
Keith Bowes, Matador’s Executive Director, Technical, is a highly- regarded mining executive with extensive experience in metallurgy, project management and operational management.
Here’s some of his points from our conversation:
We pride ourselves in being a high-grade open pit operation; we’re expecting our head grades to be something in the order of two, maybe 2.2 grams per tonne
I don't think we're going to find one massive pit; I think we're going to find multiple big pits
Even within that area we're think we're going to find some more in there as well, so very, very highly productive from a relatively small area
Canada's very similar to Australia in terms of there's a very defined process that you need to go through. So long as we go through those steps and meet all the different hurdles at each of the different steps, we don't see any issues coming up with the project
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