Musgrave Minerals Encounters Thick Gold Intersections at Big Sky

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported new assay results from reverse circulation (RC) drilling at the Big Sky prospect, situated along a new gold corridor south-west of Lena on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia’s Murchison district.

RC drilling completed south-west of Lena within the new seven kilometres-long gold corridor has continued to intersect gold mineralisation below thin transported cover (1-20m) in areas that had not been drilled by previous explorers.

The Big Sky gold anomaly is defined over 2.6km of continuous strike where it remains open to the north and south.

Intersections include:

84 metres at 1.4 grams per tonne gold from 24m, including 12m at 6.6g/t gold from 66m;

42m at 1.1g/t gold from 30m;

36m at 1.2g/t gold from 30m; and

12m at 1.7g/t gold from 108m to EOH.

“The RC drilling has confirmed the potential for significant gold mineralisation at Big Sky and the possibility of a number of higher-grade zones within the broader anomalous trend,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“Drill traverse line spacing remains at more than 100 metres for much of the target area and assays are pending for more than 50 RC drill holes.

“The mineralisation is masked from surface by a thin veneer of transported hardpan cover.

“The near surface nature of the oxide, regolith gold mineralisation is expected to be favourable for open-cut mining.

“Regional drilling will continue with the aim of defining discrete higher-grade zones for resource definition.”

The current resource estimate for the Cue gold project totals 6.4 million tonnes at 3.2g/t gold for 659,000 ounces, including the Break of Day deposit (797,000 tonnes at 10.2g/t gold for 262,000 ounces contained gold) and the Lena deposit (4.3 million tonnes at 2.3g/t gold for 325,000 ounces contained gold) located 130m to the west of Break of Day.