Musgrave Minerals Confirms New High Grade Gold Discovery

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) is pleased to report assay results from the Louise prospect, the latest gold discovery at the company’s Cue project in Western Australia.

Musgrave Resources completed three reverse circulation (RC) holes at the Louise prospect, located 750 metres south of the Break of Day deposit, from which it observed mineralisation it considers to be similar in style and nature to that at Break of Day.

Assay results for the three drill holes showed two, 17MORC112 and 17MORC111, intersected the targeted structure and quartz lode at Louise demonstrating continuity over strike.

4 metres at 15.4 grams per tonne gold from 79m down hole, including 2m at 29.9g/t gold from 81m open to the north and down dip.

Musgrave also interpreted a northern plunge from the historical workings at surface through 17MORC112, which it compared to the plunge on the Velvet Lode at Break of Day.

The company believe the high-grade gold intersection at Louise demonstrates potential for the formation of multiple high-grade gold shoots along the Break of Day shear which extends for over 20km of strike with very limited basement drill testing.

“This is a great initial result at Louise and highlights the potential for new high-grade gold discoveries within the 20 kilometres of prospective strike of this under explored belt,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The mineralisation is within the southern continuation of the Break of Day shear and is wide open along strike and down dip.

“Louise is the second high-grade gold discovery for Musgrave within 18 months, which is a great achievement for the team.”