THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported assay results from recently completed diamond drilling undertaken on the company’s Cue Joint Venture with Evolution Mining (ASX: EVN) over Lake Austin in Western Australia’s Murchison district.
Musgrave Minerals declared the results to have identified strong basement gold mineralisation at the West Island prospect with gold intersections encountered over a 400 metres strike length below a strong regolith gold anomaly under Lake Austin.
The mineralisation is hosted within a differentiated dolerite unit, similar to that hosting the high-grade Great Fingall and Golden Crown deposits 25 kilometres to the north of West Island at Cue.
The first four diamond drill holes at West Island testing part of a 7km long aircore anomaly, all intersected gold mineralisation, including:
11.5 metres at 3.2 grams per tonne gold from 245m, including 3m at 10.6g/t gold from 247.5m;
11m at 3.6g/t gold from 272m, including 5m at 5.5g/t gold from 276m;
5m at 2.7g/t gold from 169m; and
0.4m at 23.5g/t gold from 144.7m.
“This is a great early result from diamond drilling and a strong endorsement of the joint venture program on Lake Austin,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.
“We are looking forward to the re-commencement of diamond drilling in July to further test the extent and grade of the gold system at West Island.
“Evolution’s ongoing commitment is a strong affirmation of the upside potential of the project.”
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