Musgrave Minerals Hits Gold Beneath Lena Resource

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further high-grade gold assay results from diamond drilling at the Lena deposit, part of the company’s 100 per cent-owned tenure on the Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals said assays from the first diamond drill holes in the company’s current program at Lena returned high-grade gold over potentially mineable widths and are between 80 metres and 140m vertically below the current JORC resource boundary that support the potential continuity of mineralisation at depth.

The two diamond drill holes completed at Lena (19MODD017 and 19MODD016) both intersected two high-grade gold lodes

Results include:

0.7 metres at 74.7 grams per tonne gold from 314m down hole approximately 140m vertically beneath the existing resource on the western high-grade lode; and

1.8m at 3.8g/t gold from 242m down hole, 80m below the existing resource on the eastern lode.

7m at 2.95g/t gold from 258m down hole, including 2.2m at 6.5g/t gold from 261.8m, including 0.6m at 14.3g/t gold from 261.8m approximately 100m below the existing resource boundary on the lode; and

1.7m at 6.3g/t gold from 289.2m down hole approximately 125m below the existing resource boundary on the western lode.

The mineralisation is open at depth on all lodes.

“These are excellent results and continue to increase our confidence in the high-grade plunge of the mineralisation at Lena where it remains open at depth,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The upside at Lena is significant and we look forward to further strong results as drilling continues.”