Matador Mining Appoints Newfoundland Expert Kerry Sparkes to Make More Discoveries at Cape Ray

Kerry Sparkes has already been advising Matador Mining on the Cape Ray gold project for 12 months.

Newfoundland minerals expert Kerry Sparkes has joined the board of Matador Mining (ASX:MZZ) as a non-executive director to help make new discoveries at its Cape Ray gold project.

Matador’s flagship project, Cape Ray, is located on the under-explored Cape Ray Shear in Newfoundland, Canada.

The project currently has 837,000 ounces of gold in a resource grading 2 grams per tonne.

Commenting on Mr Sparkes’ appointment to the board, Matador non-executive chairman Justin Osborne said he was a “highly respected and accomplished mining executive”.

Mr. Sparkes has also previously advised Matador over the past 12 months.

“Mr. Sparkes has had a tremendous career making major mining discoveries and creating substantial shareholder value.”

“He also adds a passionate Newfoundland voice to our board, which is critical in this emerging frontier.”

Resident of Newfoundland

Mr. Sparkes lives in St John’s, the largest city in Newfoundland and Labrador.

He has over 30 years of experience as a geologist in global mineral exploration and has explored Newfoundland several times during his career.

Commenting on his new role, Mr Sparkes said he had already explored the Cape Ray Shear in the early 2000s.

He added that he looked forward to supporting the company’s strategy to become “Newfoundland’s next big gold company.”

“[Matador] has a large body of land located on very promising geological trends that currently host several major mineral deposits.

“These are key ingredients for the company to make major new discoveries,” Sparkes added.

Accelerated exploration

Matador entered the current quarter with an additional $5 million in the bank to fund accelerated exploration at Cape Ray.

The funds came from a placement of $4.5 million, followed by a private placement of $500,000.

An additional $2.9 million was raised after a stock purchase plan closed earlier this month.

In total, Matador has raised $7.9 million to fund accelerated exploration across Cape Ray, which now covers 1,033 km2 of land in Newfoundland.

The project accommodates 120 km of continuous strike.

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