HOT OF THE PRESS: Musgrave Minerals (ASX: MGV) released assay results from the first six drill holes of reverse circulation (RC) drilling currently underway at the company’s wholly-owned Break of Day deposit on the Cue project in the Murchison region of Western Australia.
Musgrave Minerals reported that he current RC drill program at Break of Day has now been extended with more than 30 drill holes targeted to define the mineralisation beyond the current resource boundary and as infill to facilitate a resource classification upgrade from the Inferred to Indicated category.
Drilling within the new south plunging high-grade shoot at Break of Day is continuing and has now extended mineralisation a further 100 metres down plunge from the current resource boundary.
Source: Company announcement
Latest intersections include:
9 metres at 4.8 grams per tonne gold from 206m down hole, including 1m at 17.4g/t gold from 213m down hole;
2m at 13.4g/t gold from 124m down hole;
2m at 5.3g/t gold from 168m down hole;
4m at 4.6 g/t gold from 327m down hole within a broader interval of alteration and veining assaying 39m at 1.3g/t gold from 293m down hole.
“These are further strong results at Break of Day which extends the mineralisation well beyond the current resource boundary,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.
“These results will continue to grow the resource and enhance the economics of the deposit.
“We have completed 18 drill holes in the current program and following these positive results will expand the program to include a further 2,500 metres of drilling.”
Break of Day currently hosts a combined (Indicated and Inferred) Mineral Resource of 868,000 tonnes at 7.15g/t gold for 199,000 ounces of gold.
Musgrave Minerals expects the Resource will increase with further drilling.