Newfoundland or German Newfoundland is currently the hottest region for gold exploration in Canada. It fits into the picture that the GOLDINVEST.de new presentation Matador Mining (ASX MZZ / WKN A2DKV4) has expanded its land holdings there to 750 square kilometers after extensive testing of promising land around the Cape Ray project, which is 840,000 ounces of gold.
In fact, Newfoundland has become one of the most exciting gold exploration regions in North America, largely due to the recent high-grade Queensway gold discovery of New Found Gold (TSXV NFG). Since it was listed on the stock exchange in August 2020, New Found shares have shot up roughly 677% from $ 1.54 to $ 11.96. Among other things, because they were able to submit insane drill sections with a length of 26.5 meters at 146 g / t gold!
A success that focused on the chance of more gold discoveries in Newfoundland. As a result, numerous companies rushed to acquire additional promising areas.
While Matador believes it has already secured one of Newfoundland’s most promising underexplored areas, the exploration team is constantly exploring new opportunities, Executive Chairman Ian Murry said.
In the process, two blocks of land west of the Cape Ray project have been identified that are believed to contain large structures that cross the Cape Ray fracture zone. According to Murray, the first explorations in the new areas will be carried out this exploration season.
As Matador also states, the newly acquired Hermitage project is located east of Cape Ray in a similar structural environment as New Found’s Queensway and Labrador Gold’s (TSXV LAB) Kingsway project.
According to the matador chairman, this region is still under-explored. Hermitage is located in a region of Newfoundland that is new to Matador and has, it is believed, so far been overlooked because it is under a moderate covering layer, which is estimated to be around 20 meters.
Murray said the new project was discovered by Matador’s senior geologist, Crispin Pike, who recently joined the company and lives in Newfoundland. He made his decision for these areas based on the assessment of historical exploration data as well as regional structures. A comprehensive review of historical data, including geochemistry, aerial magnetic surveys, and electromagnetic surveys, is underway
In Australia, today’s news saw the share price jump 13% as more and more investors seem to become aware of this exciting stock. We drew attention to Matador Mining (ASX MZZ / WKN A2DKV4) at the beginning of May, as we were working on the already advanced Cape Ray gold project with its resource of around 840,000 ounces of gold and the prospect of a further significant increase in these deposits due to the largest one that has now started Find the drilling program in the company’s history extremely exciting and see considerable potential here – despite all the risks of an explorer. The fact that this is now increasing through further land acquisitions and that Matador is then discovered as a “neighbor” of New Found Gold certainly cannot damage the company’s visibility.
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