Musgrave Minerals extends Frakes silver target

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) has extended the silver anomaly at the Frakes target on the Menninnie Dam project in the southern Gawler Craton region of South Australia.

The extension is the result of recently completed detailed surface geochemistry at the Frakes target.

Musgrave said the highest silver numbers in the detailed surface geochemistry were encountered in untested areas offset from where it has carried out previous drilling.

 

Location of drill hole collars at Frakes prospect with infill
surface geochemistry showing significant surface silver geochemical
anomalism west and south east of current drilling. Source: Company
announcement

 

Musgrave Minerals has entered into a Joint Venture Agreement with Menninnie Metals Pty Ltd, a wholly-owned subsidiary of Terramin Australia (ASX: TZN) to earn a 51 per cent interest in the Menninnie Dam project in the first stage, and up to a 75 per cent interest thereafter.

Musgrave recently completed a detailed soil sampling grid (50m by 100m) over the Frakes target with the aim of better defining the silver anomalism.

According to the company the results have returned highly anomalous silver values including a peak value of 407.3ppb silver at the western edge of the grid where the anomalism remains open.

The company has also completed an eight hole diamond drilling program on three separate targets, the Frakes, Spare Rib and Tank Hill targets, which intersected epithermal alteration and anomalism in all drill holes.
 
Assay results have been received for seven of the eight drill holes.

Results from the Spare Rib target, located less than 2km east of the Menninnie Central and Viper deposits returned evidence of anomalous silver, lead and zinc mineralisation with individual assay values up to:

1.1 per cent lead, 0.7 per cent zinc and 46.4 grams per tonne silver in an altered marble unit Musgrave described to be similar to that which hosts the mineralisation at the Menninnie Central deposit.

Musgrave explained it has interpreted the mineralisation at Frakes to be associated with epithermal breccias consistent with the porphyry-epithermal subvolcanic vent breccia model Musgrave has for this target.

The recent diamond drilling in the vicinity of a previous high grade intercept (10m at 990g/t silver) encountered in February at Frakes has not demonstrated continuity of this zone.

However as the recent geochemistry results extend the anomaly to the west, Musgrave considers the drilling has not yet tested the most prospective part of the target.

“The high silver grade originally intersected in aircore drilling at Frakes is very positive and with the strongest parts of the surface geochem response sitting untested to the west, south-west and south-east, this target continues to be very encouraging,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“We are also encouraged by the lithologies and alteration seen in diamond core at Spare Rib suggesting we could be close to higher grade lead-zinc-silver mineralisation.

“We continue to get significant encouragement from our work at Menninnie and look forward to continuing to define and drill test high quality targets.”

Musgrave indicated further detailed infill geochemistry and a detailed gravity survey will be a priority at Frakes, Spare Rib, Sidley, Erebus and Shank to refine targets for further drilling.

This infill geochemical sampling will commence in June.

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au