Musgrave Minerals Hits Gold at new Joshua Target

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) made a good start to its regional aircore/reverse circulation (RC) drilling program at the company’s Cue project in the Murchison district of Western Australia.

Musgrave Minerals is drilling to test 10 new high priority gold targets at Cue project.

The company’s first drill hole into the new Joshua gold target approximately 4.7 kilometres south of the high-grade Break of Day deposit, intersected 6 metres at 3.9 grams per tonne gold from 54m down hole in a moderately weathered, sheared mafic with stringer quartz veining.

Musgrave explained the sample is a six-metre composite with one metre samples currently being collected and submitted for individual assay.

The gold mineralisation is open to the north, south and at depth and is within a 450m-long gold-in-soil, surface geochemical anomaly along the Break of Day/Lena shear corridor.

Musgrave has follow-up drilling planned at Joshua as part of the current drilling program.

“This intersection from Joshua is an excellent result from a first pass, shallow drill test and will be followed up with additional drilling,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The target is open for more than 200 metres, both north and south and is on the same mineralised trend as Break of Day and Lena.

“To date, results from this regional program have been exceptional with new gold mineralisation identified at Joshua, Lena North, Break of Day North and Lake Austin North.

“The program highlights the potential of the Cue project to host further gold deposits within this very prospective and well-endowed region with good infrastructure and numerous operating gold plants.

“Drilling is continuing, and we look forward to completing the remainder of the drill program and reporting further results as they are received.”

Musgrave Minerals’ regional drilling program consists of a combination of aircore and shallow RC drill holes to identify new gold mineralisation by testing 10 new near surface targets.

The 12,000m program is approximately 90 per cent complete and is expected to continue for another two weeks, with 50 per cent of the assays received to date.

Next assays are expected in two weeks, with further assays expected through to mid-July.