Musgrave Minerals Continues Drill Success with Phase 2 on Cue

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THE DRILL SERGEANT: Days out from the RIU Resources Roundup in Sydney Musgrave Minerals (ASX: MGV) reported high-grade gold results from the first ten drill holes from the Break of Day and Lena gold prospects.

Musgrave Minerals has recently commenced a phase two reverse circulation (RC) drilling program on the Cue project in the Murchison region of Western Australia.

Musgrave said drilling has identified a new shoot plunge and extension on the Velvet Lode intersecting:

17MORC050
15 metres at 16.6 grams per tonne gold from 170m down hole, including 7m at 31.8g/t gold from 173m; and

17MORC046
6m at 5.4g/t gold from 156m down hole.

Extensional drilling has extended the Twilight Lode a further 25m south intersecting:

17MORC050
3m at 22.4g/t gold from 153m down hole.

Musgrave explained the mineralisation remains open both to the south and down plunge on both high-grade lodes at Break of Day.

Infill drilling at Break of Day also intersected:

17MORC053
6m at 10.4g/t gold from 96m down hole; and

17MORC054
12m at 6.5g/t gold from 168m down hole.

At Lena drilling identified further shallow gold mineralisation of:

17MORC045
6m at 3.3g/t gold from 24m down hole.

Phase two of the drilling program is continuing with 20 drill holes of a planned 35 drill holes completed to date.

“The high-grade gold results at Break of Day continue to impress and extend the high-grade lodes,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The new high-grade intersections in 17MORC050 on both the Twilight and Velvet Lode demonstrate that the deposit remains open with considerable potential to add resource ounces through extensional drilling.

“The current phase of drilling is progressing well as we work towards upgrading the Lena and Break of Day Mineral Resources in June 2017.”

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au