Musgrave Minerals encounters more high-grade gold at Break of Day

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THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) managing director Rob Waugh was spotted amongst the throng at Diggers and Dealers on Day Two.

Waugh was sporting an enigmatic grin, due no doubt to the company’s announcement that it has encountered intersections of high-grade gold while conducting follow-up reverse circulation (RC) drilling at the Break of Day prospect within the company’s Cue project in the Murchison region of Western Australia.

Musgrave has received assay results for the first two drill holes in the program (16MORC006 and 16MORC007).

Results include:

16MORC006
2 metres at 10.8 grams per tonne gold from 66m to 68m down hole (hanging-wall vein); and

2m at 36.8g/t gold from 101m to 103m down hole (footwall vein).

16MORC007
1m at 33.5g/t gold from 80m down hole (hanging-wall vein).

Musgrave explained that drill hole 16MORC006 was drilled to test the up-dip projection of the footwall vein while 16MORC007 was drilled 25m to the south.

The two holes intersected both the footwall and hanging-wall veins, which the company interpreted to demonstrate the continuity of the mineralisation that remains open at depth and along strike.

“This is another strong result at Break of Day,” Waugh said in Musgrave’s announcement to the Australian Securities Exchange.

“The confirmation of the twin parallel gold veins is a huge positive and we look forward to announcing further results as they come to hand.”

Musgrave indicated the RC drilling is continuing at Break of Day as part of a broader RC drill program on the Cue project, which is a Farm-In and Joint Venture Agreement with Silver Lake Resources (ASX: SLR) where Musgrave can earn up to an 80 per cent interest.

The current RC drill program is part of a larger drilling campaign that also includes drilling at the Mt Eelya copper-gold massive sulphide discovery and the Purple Rain gold prospect.

Musgrave anticipates assay results to be ready for the remainder of the drilling program over the next three to four weeks.

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au