Musgrave Minerals Hits New Gold Target

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) is in the midst of an aircore/reverse circulation (RC) drilling program on 100 Musgrave-owned ground at the company’s Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals has received assay results for the first 49 drill holes from the current regional program that is testing for new Starlight analogue targets on trend with the new high-grade Starlight gold discovery at the Break of Day deposit.

Target 2, located 400m south of Starlight intersected high-grade gold near surface in two adjacent holes.

The mineralisation is blind from surface, hidden below two to three metres of transported hardpan clays and is open along strike and down dip.

A single aircore/RC traverse across Target 2 intersected:

5 metres at 13.4 grams per tonne gold from 28m, including 2m at 30.9g/t gold from 28m; and

8m at 8.4g/t gold from 41m, including 4m at 15.4g/t gold from 44m.

The company explained these two aircore drill holes were collared 20m apart and were extended into fresh rock with RC hammer.

Musgrave acknowledged additional follow-up drilling will be required to define the strike and depth extent of this new mineralised position.

Drilling at targets 1, 3, and 7 also returned anomalous gold results in the regolith (weathered zone) with further assessment required before follow-up drilling is scheduled.

“This is a great start to the regional program,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Any significant gold anomalism on these new targets is encouraging but to get these high-grades from this reconnaissance program is a very exciting result.

“We’re currently planning further follow-up drilling to commence in late October.”