THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further highly-encouraging assay results from diamond drilling undertaken at the A-Zone gold target at the Lake Austin North target.
Lake Austin North is located three kilometres north of the Break of Day gold deposit within the company’s Cue project in Western Australia’s Murchison district.
Recent diamond drilling has extended the basement gold mineralisation at A-Zone to more than 350 metres in strike where it remains open in all directions.
137.2 metres at 0.6 grams per tonne gold from 97.8m down hole, including 20.2m at 2.3g/t gold from 194m;
239.4m at 0.4g/t gold from 71.6m down hole, including 43.2m at 1g/t gold from 115m; and
128.1m at 0.5g/t gold from 133.3m down hole, including 32m at 1.5g/t gold from 133.3m, including 9.7m at 3.1g/t gold from 133.3m.
Musgrave Minerals explained that drill hole 18MODD012 is now the most southerly basement hole to be drilled into A-Zone and the mineralisation remains open to the south and north.
The company has commenced a new diamond drilling program at A-Zone, from which it expects further assays in late February.
“Diamond drilling continues to extend the basement gold mineralisation at A-Zone with recent assays returning further thick intervals of mineralisation,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.
“The system remains open in all directions with further drilling underway.
“Two drill rigs are currently operating and a third is expected to commence this week.
“Diamond drilling will continue to step-out and test the extents of the mineralisation along strike and down dip with the aim to outline the size and grade of this potentially large and exciting gold discovery.”