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Matador building Cape Ray resource to +1Moz

Matador Mining is progressing with a 45,000m drilling campaign at its Cape Ray project in Newfoundland, Canada as it seeks to grow resources to enable the project to sustain production of 100,000 ounces a year for at least 10 years, executive chair Ian Murray told Mining Journal at the Precious Metals Summit in Beaver Creek, Colorado.

Matador building Cape Ray resource to +1Moz Matador building Cape Ray resource to +1Moz Matador building Cape Ray resource to +1Moz Matador building Cape Ray resource to +1Moz Matador building Cape Ray resource to +1Moz

Matador Mining's Cape Ray in Newfoundland, Canada

Adding to resources is a key goal to make the project more financeable. A 2020 scoping study outlined sub-90,000oz/y production on a resource totaling 837,000oz at 2 grams per tonne.