A scoping study into the Cape Ray gold project, in Canada, has found that the project could produce some 504 000 oz of gold over a seven-year mine life.
ASX-listed Matador Mining on Wednesday told shareholders that the scoping study estimated an initial capital cost of $102-million to development the project, with a processing facility throughput of 1.2-million tonnes a year, with an average head grade of 2 g/t gold and 2.56 g/t gold over the first four years of operation.