✦ William Potma, Chief Geologist and Crispin Pike, VP, Discovery of Matador Mining Limited (ASX: MZZ) discuss their new strategy.
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.
Engage in a lively discussion with William Potma and Crispin Pike here.
Chapters:
00:00 Start
00:20 Introduction
01:45 Warren Potma and Matador Mining.
04:27 Crispin Pike and the progress of exploration activities.
07:40 Geophysics as a dominant tool used by exploration.
08:49 Discussion about big projects.
12:33 Shallow drilling at Cape Ray.
13:16 Is Cape Ray geologically unique?
14:57 What is the market sentiment for Matador and the Gold sector?
16:45 Thoughts on the project as the Exploration Manager.
19:24 Challenges of the project.
22:24 Jurisdiction matters.
25:19 The Hermitage Project.
28:44 Could Hermitage be a first tier project?
29:30 Are regional structure controls dominating the Mineralisation?
31:13 Finding the next bigger deposits.
32:10 How big can the Matador projects end up?
33:41 News flow.
35:51 Takeaway from Coffee with Samso.
38:17 Conclusion
About Warren Potma
Chief Geologist
Mr Potma is a highly experienced exploration manager, with a successful career spanning over 25 years. He was most recently Principal Geologist for CSA Global, where he provided specialist consulting services to exploration and mining companies.
Prior to his time at CSA Global, Warren was Exploration Manager for Hot Chili, an ASX listed company with a portfolio of projects in Chile. Warren’s geology team also delivered a maiden Ore Reserve and provided all the geological and gemetallurgical inputs required for the Productora Pre-Feasibility Study. Prior to this, Warren held the position of Exploration Manager for Silver Swan Group/Caravel Minerals following his departure from a very successful eight years with the CSIRO where he led the Mineral Systems and Targeting applied research stream which focused on developing and applying exploration technologies and methodologies across the Australian exploration and mining sector.
Warren holds a Master’s degree in structural geology from Monash University, and is a member of both the AIG and AUSIMM.
About Crispin Pike
VP, Discovery
Crispin Pike has come on as Exploration Manager having worked for the Geological Survey of Newfoundland and Labrador for six years, and prior to that with 9 years with INCO/Vale on projects across North and South America.
About Matador Mining Limited (ASX: MZZ)
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
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, including:
45,000 metres of diamond drilling;
Five power auger drill rigs;
80 kilometre Heli-Mag program; and
Inaugural winter exploration program.
Contact Matador Mining Limited (ASX:MZZ)
+61 8 6117 0478
Disclaimer
This article is sponsored content.
ASX companies engage Samso and Brilliant-Online to share their commentary on the progress of their companies and projects. The author, owners of Samso and Brilliant-Online and associated entities may or may not hold shares of these companies.
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. - Samso
About the Author
Noel Ong, CEO of Samso tells compelling stories by engaging business leaders to reveal insights beneficial to the investment community.
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Samso helps executives tell ASX stories that pique interest.
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