Musgrave Minerals Confirms Exceptional Break of Day Gold Grades
THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) proved Ramelius Resources (ASX: RMS) was on the money by reporting grade control assay results from recent reverse circulation (RC) drilling undertaken at the company’s 100 per cent-owned flagship Cue gold project in Western Australia.
Musgrave Minerals carried out the drilling on the Starlight Lode at Break of Day within the Cue gold project as the final drilling stage prior to permitting, approvals and further development studies.
New RC drill intersections, including estimated true width (ETW), inside the current Minerals Resource Estimate (MRE) wireframe and in the Stage 1 PFS pit designs include:
23MORC208
19 metres (9.5m ETW) at 112 grams per tonne gold from 27m, including 3m (1.5m ETW) at 676g/t gold from 31m;
23MORC205
28m (13.8m ETW) at 68.5g/t gold from 21m, including 4m (2m ETW) at 410.6g/t gold from 34m; and
23MORC204
16m (7.9m ETW) at 78.5g/t gold from 28m, including 2m (1m ETW) at 520.8g/t gold from 31m.
“Following the strong financial metrics of the Stage 1 Prefeasibility Study in April 2023, the company has focused on extending mine life through exploration drilling, converting Inferred Resources within the confines of Stage 1 PFS mining envelopes as well as grade control drilling to de-risk the initial stages of open pit development,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.
“Grade control drilling is aligned to this strategy.
“These infill grade control drilling results from the Starlight Lode at Break of Day focus on the early months of development to provide added certainty in forecasting and scheduling of future gold production.
“The results support, and are aligned with, previous data and continue to highlight the very high-grade, near-surface nature of the Break of Day gold system.
“Ongoing field activities are focused on further grade control drilling at Break of Day (Twilight and Velvet Lodes) and the high-grade White Heat deposit together with drill testing of new high priority gold exploration targets at Cue.”
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