Musgrave Minerals confirms high-grade gold at Break of Day and extends Lena

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported another round of strong assay results from an initial diamond drilling program being undertaken at both the Break of Day and Lena deposits on the Moyagee project, located within the Cue Joint Venture in the Murchison region of Western Australia.

Musgrave Minerals said the results from Break of Day have confirmed and extended the high-grade gold mineralisation intersected in reverse circulation (RC) drilling to date.

The company said the results are a positive step with drilling continuing to enhance the mineral resource potential at Break of Day.

Musgrave said its geological model for Break of Day suggests potential of further gold mineralisation being discovered is strong as the mineralisation remains open at depth.

The company went on to declare high-grade drilling results from the two drill holes collared at the southern end of the Lena gold deposit, 150m west of Break of Day, indicate that the gold mineralisation continues below the current shallow oxide resource estimate and may indicate an increase in grade at depth.

Diamond drilling results from Break of Day include:


16MODD002
3.2 metres at 26.6 grams per tonne gold from 238.5m;


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4m at 9.6g/t gold from 231m; and


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6.6m at 7.3g/t gold from 127.35m.

Two of the deeper drill holes completed at Break of Day were collared to also test the Lena deposit and intersected gold mineralisation below existing shallow oxide drilling, including:


16MODD003
3.3m at 19.4g/t gold from 61.7m; and


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7m at 3g/t gold from 34m in an RC pre-collar drill hole.

“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.

“The diamond drilling has confirmed our interpretation of the geology and high-grade coarse nature of the gold mineralisation.

“In addition, the shallow high-grade gold mineralisation intersected at Lena is another positive and opens up the potential for another high-grade gold lode.”

The Lena deposit is currently defined along a 1.6 kilometre strike length and hosts a total combined Mineral Resource of 1.273 million tonnes at 1.86g/t gold for 76,000 ounces of gold and remains open down dip.

Musgrave considers the near surface high-grade gold at Lena to have potential to be mined through open cut methods and due to its proximity, expect it may enhance the economics of any potential future development at Break of Day.

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au