Musgrave Minerals Extends A-Zone Gold Mineralistation

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) completed a regional aircore scout drilling program to extend the Lake Austin North A-Zone gold target within the company’s Cue project in the Murchison Region of Western Australia.

Musgrave has now extended the A-Zone to a strike of over three kilometres where it is still open to the north and north-west.

The company described the extensive gold regolith ‘halo’ to be following the tonalite-mafic contact along a major shear zone (Lena-Break of Day shear corridor) and continues north beyond the limit of current drilling.

To date, drilling has been limited to approximately 500 metres of this basement target (A-Zone) leaving a large, prospective 2.5km zone that has yet to be tested with basement drilling.

The aim of the aircore program was to obtain geological and geochemical information to integrate with geophysical data to provide vectors to focus basement drilling.

Musgrave claimed the latest results to include the thickest regolith gold intercept it has encountered at Lake Austin, of:

50 metres at 1.1 grams per tonne gold from 114m down hole.

Other results include:

28m at 1.17g/t gold from 114m down hole;

7m at 1.06g/t gold from 129m down hole;

5m at 1.89g/t gold from 70m down hole;

15m at 0.52g/t gold from 72m down hole;

9m at 0.54g/t gold from 105m down hole to EOH;

7m at 0.47g/t gold from 124m down hole;

24m at 0.21g/t gold from 114m to EOH;

41m at 0.13g/t gold from 116m down hole to EOH; and

11m at 0.31g/t gold from 106m.

“These aircore results continue to show the large size of the gold system at Lake Austin North and support the company’s view on the prospectivity of this new undercover gold system,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The A-Zone gold anomaly now extends for over three kilometres in strike with additional new targets totalling approximately eight kilometres of combined basement strike in the Lake Austin North area.

Only approximately 500 metres of this strike has seen any basement drilling which equates to approximately six per cent of the target area.

“The upside is huge.

“These results reinforce the significant potential to grow the gold resource base on the Cue project.”