Matador Mining Limited (OTC: MZZMF) Stock in Focus After Recent Update
On Monday, there were a number of companies that had come into focus following key developments, and one such company was Matador Mining Limited (OTC: MZZMF). There has been considerable focus on the mining sector in recent times, and it could be a good idea to consider taking a look into it. Yesterday, the company announced the assay results from the first 47 drill holes of the 157-hole RC (reverse circulation) drilling program at the Malachite Project. The project in question is situated along the Cape Ray Shear Zone in Newfoundland, Canada.
/+-/In the news release yesterday, Matador Mining Limited announced that it was going to conduct a thorough analysis of the initial batch data. Concurrently, it would also need to wait for the assay results from the other 110 holes. The assay results for those are expected to be delivered by next month. The company noted that BOH (Bottom of Hole) and BOT (Basal Till) shallow drilling had both been proven exploration techniques that had 9/been used to collect the samples in the uppermost parts of the bedrock.79+
The overarching aim of such a collection method was to identify the anomalous gold samples that may have been present in the areas below the overburden. The company noted that it had used an effective but cost-effective and high-return method to identify the areas for diamond drilling in the future. The Chief Executive Officer and Managing Director of Matador Mining Limited, Sam Pazuki, spoke about the developments as well. He noted that everyone at the company was excited at having been able to report the assay results from the 47 holes. He went on to note that the winter drilling program conducted by the company had been created to identify significant mineralization sources that had been discovered over the past couple of years.
