Musgrave Minerals Drilling at Lake Austin North

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) managing director Rob Waugh informed the Day Three crowd at the Diggers & Dealers Mining Forum in Kalgoorlie of the company’s latest round of drilling.

Musgrave Minerals has commenced drilling to test the A Zone and C Zone gold targets at Lake Austin North on the company’s Cue project in Western Australia’s Murchison district.

The drilling program will consist of approximately 30 reverse circulation (RC) drill holes for 7,500m extending into fresh rock, down dip of recently intersected gold mineralisation, including;

13 metres at 3.95 grams per tonne gold to EOH from 120m, including 2m at 10.5g/t gold to EOH;

31m at 1.78g/t gold to EOH from 124m; and

21m at 1.15g/t gold to EOH from 132m, including 4m at 4.07g/t gold to EOH.

Musgrave explained that several drill holes from the previous program terminated in high-grade gold mineralisation due to the depth capacity of the drill rig.

The company’s upcoming program will extend those intersections and test for new mineralised positions and will take approximately six weeks to complete with first assays expected in early September.

“There is significant evidence to suggest that Lake Austin North is a large, well mineralised gold system,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“This is an exciting drill program as it will test the unweathered granodiorite-mafic contact below where we are seeing an extensive regolith gold halo and significant gold grades.”

The A Zone target at Lake Austin North consists of a regolith gold mineralised halo extending up to 300m wide and covering a strike extent of over 700m.

The target is open to the north and south where recent aircore drilling intersected the grades mentioned above terminating in gold mineralisation.