Musgrave Minerals continues run of strong drilling results at Break of Day
THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) presented further strong assay results from reverse circulation (RC) drilling carried out on the Break of Day prospect on the company’s Cue project in the Murchison region of Western Australia.
The Cue project is a Farm-In and Joint Venture Agreement with Silver Lake Resources (ASX: SLR) where Musgrave can earn up to an 80 per cent interest.
The project consists of the Moyagee gold and Hollandaire copper Resources and surrounding tenure in the Murchison province of WA.
Musgrave Minerals has met its minimum expenditure commitment for the Cue project and has subsequently commenced the Stage 1 Earn-In to acquire a 60 per cent JV interest in the project.
Recent drilling has produced more encouraging results, including:
16MORC043
Intersected 5 metres at 53.5 grams per tonne gold (uncut) from 138m down hole, including 1m at 183.1g/t gold from 138m down hole in the projected position of the Twilight Lode.
Musgrave Minerals indicated this to be the highest individual gold assay yet received at Break of Day and extends the Twilight mineralisation a further 30m down dip.
The mineralisation remains open down plunge.
Musgrave said a re-interpretation of the geology has suggested a vertical to steep westerly dip to the mineralisation and a possible third parallel gold lode.
16MORC041
Located 120m to the north of 16MORC043 intersected 3m at 54.9g/t gold (uncut) from 187m down hole, including 1m at 142.8 g/t gold from 188m down hole in the projected position of the Velvet Lode.
The high-grade encountered in drill hole 16MORC041 is at a vertical depth of 162m and the mineralisation is open down plunge.
Musgrave indicated it is now in the planning stages for a diamond drilling program that will commence later this quarter.
“This is another very good set of results from Break of Day,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.
“We have results expected for another 13 drill holes over the coming weeks and look forward to continuing to update the market as more results come to hand.”
Musgrave has now completed a total of 32 RC drill holes for over 7,200m as part of the current drill program at the Break of Day prospect and assay results have now been received for 19 drill holes.
The company said it was looking forward to seeing what the assay results for the remaining 13 drill holes have to show, which it anticipates will be received in batches over the next three weeks and be reported as they become available.
Email: info@musgraveminerals.com.au
Website: www.musgraveminerals.com.au