Musgrave Minerals Drills and Rock Chips High-Grade Gold at Cue
THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported on recent activity undertaken at the company’s Cue gold project in the Murchison district of Western Australia.
Musgrave Minerals’ latest work included follow-up reverse circulation (RC) drilling on the Break of Day deposit that returned:
19MORC017
3 metres at 13.9 grams per tonne gold from 53m down hole, including 2m at 20g/t gold from 53m.
The company suggested this could be a potential southern extension to the Break of Day deposit with the intercept sitting approximately 75m south of the current resource boundary and remains open down plunge.
The intercept is up dip of drill hole 19MORC015 that the company reported in September that intersected 2m at 9g/t gold.
Other work carried out at Cue involved earlier-stage exploration activities at Musgrave’s newly acquired Mainland prospect, where rock-chip sampling returned a highly encouraging ultra-high-grade gold assay result from an iron-quartz breccia sample in an area of no previous drilling.
The sample assayed 3,449g/t gold with visible gold obvious in the sample.
“This is another strong drilling result extending the high-grade gold mineralisation at Break of Day,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.
“The ultra-high-grade rock-chip sample at Mainland is encouraging as this prospect has never been drilled, highlighting the potential for ultra-high grades in the Mainland area.
“We’re excited to commence drilling on this new target at Mainland in approximately three weeks.”
Both Break of Day and Mainland are retained 100 per cent by Musgrave and are not part of the recently announced Evolution Mining (ASX: EVN) earn-in and exploration Joint Venture area.
The Break of Day deposit has a JORC 2012 Resource of 868,000 tonnes at 7.15g/t gold for 199,000 ounces gold.
The deposit consists of a number of high-grade gold lodes, with potential at depth and along strike to grow the existing resource.
Email: info@musgraveminerals.com.au
Web: www.musgraveminerals.com.au
