Musgrave Minerals Encounters More Thick Intervals of Near-Surface Gold

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the latest assay results from reverse circulation (RC) drilling at the Big Sky and Target 14 prospects at the company’s Cue gold project in Western Australia’s Murchison district.

Musgrave Minerals has been drilling along a new gold corridor south-west of the Lena and Break of Day deposits on its 100 per cent-owned ground.

Recent assays from the RC drilling has defined further thick regolith gold mineralisation within the 2.6 kilometres-long aircore gold anomaly at Big Sky.

Gold mineralisation remains open down dip at Big Sky and infill resource definition RC drilling has commenced.

The drilling has also demonstrated Target 14 remains open and further drilling to follow-up the recent intercept will commence in October.

New intersections include:

Target 14

36 metres at 2.9 grams per tonne gold from 12m, including 24m at 4.1g/t gold from 24m.

Big Sky

60m at 1g/t gold from 42m, drilled 50m south of 21MORC101 drilled earlier this year, returning 73m at 1.4g/t gold.

6m at 6.9g/t gold from 12m;

18m at 1.1g/t gold from 36m; and

12m at 1.7g/t gold from 84m.

The company explained its ongoing focus is on the higher grade and thicker intervals of gold mineralisation intersected to date and that the extensive nature and continuity of the gold mineralisation it has encountered supports its view that the Big Sky prospect has the potential to add to the company’s existing resource base at Cue.

“Big Sky and Target 14 are new and exciting discovery opportunities for the company,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“Thick, near-surface, oxide gold mineralisation has been identified over broad intervals at Big Sky, which has the potential to add significant feed tonnes to a future operation focused at Break of Day and Lena.
“The potential addition of soft oxide mineralisation from Big Sky, together with the higher-grade Break of Day and Lena deposits only two kilometres to the north could significantly improve sustainability of production scheduling and help provide feed continuity over a longer potential operating term.

“Big Sky continues to deliver strong results for Musgrave.

“We are focusing on near-surface resource growth and exploring for both smaller high-grade deposits like White Heat in combination with larger near-surface but lower grade mineralisation like Big Sky.

“Both can potentially be mined by open pit methods and blended to maintain a steady rate of production.

“A 7,000 metres RC follow-up resource drilling program at Big Sky has commenced.

“The drilling will focus on three zones of between 600 metres and 200 metres of continuous mineralised strike, with the aim of defining a near-surface gold resource to grow the total resource inventory at Cue.

“Drilling is ongoing, and we look forward to updating the market with further results as assays are received.”