The "robust" results from the Isle aux Morts resource drilling was headlined by 20m grading 5.1 grams per tonne gold from 8m, while the Angus prospect yielded 7m at 2gpt from 19m.

Matador drilled 83 holes for 10,561m in the coronavirus-impacted 2020 field season, with results from 31 holes still to be reported.

Scoping work completed earlier this year outlined a seven year project costing US$102 million to building and producing a total of 500,000oz.

All-in-sustaining costs of $776/oz were estimated.

Matador features an impressive board, comprising Ian Murray, Mick Wilkes, Justin Osborne and Dr Nicole Adshead-Bell.

The company raised A$8.7 million in July by issuing new shares priced at 40.5c each.

Shares in Matador were up 12.5% to 31.5c in early trade capitalising the company at $53 million.