ASX-listed gold explorer Matador Mining (ASX:MZZ) has staked an additional mineral licence within the Bunker Hill target area located in Newfoundland, Canada.
With the additional licence, the company reports it now holds all 6 of the mineral licences in the ‘highly prospective’ Bunker Hill target area.
Matador says the amalgamation of this land package through the east-west portion of the Cape Ray Shear Zone (CRSZ) is an important milestone, allowing for the consolidation of the along strike structural trend that is proximal to the ‘high-grade rock samples identified in the BHL01 target.
In addition to this, the company also says the eastward continuation of the complex structural trend from the Malachite target area is also wholly under ownership of Matador.
Meanwhile, the new parcel of land is also the western bounds to the historic surficial geochemistry trend anomalous in favourable pathfinder elements as identified previously.
Commenting on the new mineral licence, Matador Mining Chief Executive Officer (CEO) and Managing Director, Sam Pazuki says: “We are pleased to now hold all mineral licences within the vast Bunker Hill target area.
“By securing these licences, we can now fully explore Bunker Hill and specifically in the newly staked mineral licence area…”
By securing these licences, we can now fully explore Bunker Hill and specifically in the newly staked mineral licence area that is proximal to historic high-grade outcropping samples that returned 18.68g/t and 12.23g/t gold.
The Bunker Hill target area is geologically attractive with a major east-west structural bend in the Cape Ray Shear Zone. It has favourable lithologies for gold deposition including windows of the highly prospective Windsor Point Group sediments and highly anomalous gold and pathfinder elements including.
Historic and more recent Matador prospecting results have indicated the presence of high-grade gold, silver, and copper float and in-situ samples along with other key pathfinder elements.”
In 2023, Matador plans to continue the regional prospecting, mapping, and surficial geochemistry campaigns. Additionally, the company has planned to complete an induced polarisation (IP) survey at BHL01 to delineate the sulphide bearing system sub-surface and generate targets for future diamond drilling.
Matador Mining is an exploration company focused on making gold discoveries in Newfoundland, Canada. The company holds an ‘extensive’ land package comprising 120km of continuous strike along the multi-million ounce Cape Ray Shear which hosts several major mineral deposits. Matador also holds 27km of continuous strike at the Hermitage Prospect which is located on the Hermitage Flexure.
Images: Matador Mining Ltd & iStock
