THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported, what the company described as, “a highly encouraging assay result.
Musgrave Minerals reported the result from recent extensional drilling at the Break of Day deposit, part of the company’s Cue gold project in the Murchison district of Western Australia.
Assays from a single reverse circulation (RC) drill hole to test a target from a revised structural model, intersected 2 metres at 9 grams per tonne gold from 71m down hole (19MORC015) in a potential southern extension to the Break of Day deposit.
Musgrave explained that the intercept was encountered approximately 75m south of the current resource boundary and remains open to the south and down plunge.
With the results of drill hole 19MORC012 and this latest intercept, Musgrave has now intercepted gold at Break of Day over a north-south extent of 475m.
The company now has follow-up drilling planned to test the vertical extent of this latest high-grade intercept.
“This is an excellent result and demonstrates the upside potential at Break of Day to continue to extend the mineralisation and grow the resource,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.
“Once you are onto a high-grade system it is important to be persistent and continue to test new ideas and concepts. It’s early days, yet a very pleasing result and a credit to all involved.”