in Celest’s favour and the fighter

Matador Mining is making a calculated move to focus on exploration. The hunt is on for the "Holy Grail". Mr. Potma and Mr. Pike dive into the technicalities of the Cape Ray Project and shares about what's working right there and how management is looking to manage the concept of discovery. There is a lot to take note of as they take us through the How, the Why, the Where and the With What.

The size of the project may be challenging to conceptualize for the average investor. Yes, the magnitude of 120km of strike length is big, but that's not the main point. It's the location of the secondary and tertiary structural points that will make discoveries.

Those of you who love the more technical aspects of an exploration story, this one's for you. The Matador story will have you hooked for more as they progress in their Mega Gold Exploration Project.

Matador Mining Limited is an exploration company that is listed on the Australian Stock Exchange (ASX). The company has its main project in the south-western area of Newfoundland, Canada. The Project is about 25 km northeast of the coastal town of Port aux Basques and is located on the Cape Ray shear, one of the most prospective, yet under-explored gold regions in North America. The Company is the largest holder of ground along the Cape Ray shear, with approximately 120 km of continuous strike along the shear. The Company’s tenement boundary is located approximately 50 km along strike from Marathon Gold’s (MOZ. TSX) 4.2Moz Valentine Lake Gold Project.

The Cape Ray Gold Project (Cape Ray or the Project) covers approximately 120km of strike along the highly prospective, yet under explored Cape Ray Shear located in Newfoundland, Canada. The Project hosts a current resource of 837,000oz Au at 2g/t Au, across four deposits, all of which are within 15km of strike.

A 2020 Scoping Study (ASX announcement 6 May 2020) highlighted that Cape Ray has the makings of an excellent gold project, with low estimated All In Sustaining Operating costs (US$776/oz Au), strong IRR (51% post Tax) and rapid payback (1.75 year). These strong outputs were driven by the Project’s high grade, yet shallow gold mineralisation, (average head grade of 2.6g/t au during the first four years of production – 88,000oz Au per annum) that ranks the Project as one of the highest grade, undeveloped open pit projects globally. However, prior to commencing a Pre-Feasibility Study, the Company identified the requirement to grow the Resource further to ensure the initial 7 years mine life assumed in the Scoping Study is increased. To achieve this, the Company believes a blend of expansion drilling around known deposits as well greenfield exploration to test the vast, yet under explored Project area as the optimal strategy. The Company therefore outlined the most expansive exploration program for the 2021/22 season.

Matador Mining Limited (ASX:MZZ) +61 8 6117 0478

https://matadormining.com.au

info@matadormining.com.au