Musgrave Minerals Declares Break of Day Deposit ‘Still Open’

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) released further gold assay results from recent extensional diamond drilling undertaken at Break of Day gold deposit within the company’s Cue project in Western Australia.

Musgrave Minerals intends following up the results with an aircore drilling program on recently identified near surface targets.

The latest drilling consisted seven diamond drill holes (three infill and four extensional), assays have been received for all four extensional drill holes showing the high-grade mineralisation remains open at depth.

The Twilight Lode was intersected in all four drill holes with best intersections of:

16.3 metres at 1.2 grams per tonne gold from 258.7m downhole, including 0.7m at 9.9g/t gold from 258.7m; and

1.8m at 4.5g/t gold from 333.0m downhole.

18MODD002 also intersected the Velvet Lode returning:

2.1m at 2.6g/t gold from 362.8m downhole.

Musgrave Minerals said the drilling confirmed mineralisation continues at depth and down plunge at Break of Day adding that further drill testing is required to define the high-grade shoots and depth potential of the deposit.

The company is about to embark on another aircore drilling program to test 10 targets along a 20km long prospective corridor identified from a recently completed regional gravity survey.

“The upcoming aircore drilling program will add another exciting dimension to the project and provide the opportunity to test new, high quality gold targets under the salt lake and marginal dunes,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The focus of this drilling is to discover another high-grade Great Fingal-style gold deposit.

“The targets are relatively shallow and have the potential to be game changers for the company if drilling is successful.”