Musgrave Minerals Hits High Gold Grades at New Mosaic Lode
THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported new gold assay results from reverse circulation (RC) and diamond drilling of prospects on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia’s Murchison district.
Musgrave Minerals drilled a new target, Mosaic that is situated south of the recent White Heat addition.
The newly discovered Mosaic Lode returned high-grade gold results, including:
21MORC414
9 metres at 110.5 grams per tonne gold from 42m, including 3m at 307.3g/t gold from 45m; and
21MODD041
2.8m at 122.2g/t gold from 72m, including 0.8m at 381g/t gold from 74m.
The drill rigs have been busy with further strong assay results achieved from resource infill drilling at the Big Sky prospect.
New intercepts include:
21MORC259
3m at 22.6g/t gold from 68m, including 1m at 62.6g/t gold from 69m;
21MORC260
2m at 9.1g/t gold from 64m; and
21MORC241
8m at 4.3g/t gold from 23m, including 1m at 30.9g/t gold from 23m.
“Our Cue gold project continues to deliver with more exceptional near-surface gold results in both RC and diamond drilling,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.
“We think there is a lot more gold to be found in this district.
“These results again demonstrate the upside of the project.
“Even modest tonnages at these sort of near surface grades could have a positive impact on the future project economics.
“The company currently has three drill rigs on our 100 per cent tenure and one on the Evolution JV.
“The immediate focus is on building the resource base and delivering a Mineral Resource Estimate update in late Q2 2022.”
The current resource estimate for the Cue gold project totals 6.4 million tonnes at 3.2g/t gold for 659,000 ounces, including the Break of Day deposit (797kt at 10.2g/t gold for 262koz contained gold) and the Lena deposit (4.3Mt at 2.3g/t gold for 325koz contained gold) located 130m to the west of Break of Day.
The new gold discoveries at White Heat-Mosaic and Big Sky are both outside the existing resource areas.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@musgraveminerals.com.au
Web: www.musgraveminerals.com.au