THE DRILL SERGEANT: Musgrave Minerals has identified two new basement drill targets via regional aircore drilling at the Lake Austin North prospect, part of the company’s Cue gold project in the Murchison district of Western Australia.
Musgrave Minerals is carrying out regional aircore drilling across the Lake Austin North gold target, which has returned thick intervals of gold mineralisation.
The Lake Austin North gold target now comprises multiple zones of anomalous regolith gold mineralisation, located approximately three kilometres of the company’s Break of Day and Lena gold deposits.
The current regional aircore program is approximately 55 per cent complete with 61 drill holes already undertaken.
Aircore drilling is continuing and Musgrave Minerals expects the next batch of results in approximately four weeks.
THE RESOURCES ROADHOUSE SPOKE WITH MUSGRAVE MINERALS MD ROB WAUGH AT THE RIU EXPLORERS CONFERENCE IN FREMANTLE:
The drilling has identified the D-Zone, a 400-metre long target defined by strong alteration and shearing along the southern margin of the tonalite contact with gold intercepts including:
26 metres at 0.62 grams per tonne gold from 81m to end of hole (EOH); and
45m at 0.18g/t gold from 91m.
The E-Zone target is 700 metres long and defined by gold intercepts including:
12m at 0.97g/t gold from 99m to EOH;
18m at 0.76g/t gold from 105m to EOH; and
4m at 1.09g/t gold from 105m to EOH.
Both zones are open to the south and many of the aircore drill holes terminated in mineralisation, which the company interpreted to further highlight the basement targets for drill testing.
“This is an excellent early result from the regional lake aircore drilling and validates the company’s view that Lake Austin North has the potential to be a large gold system with multiple mineralised structures,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.
“Similar regolith gold mineralisation was intersected in first pass aircore drilling of the A-Zone basement mineralisation in 2018.
“These new targets are still open to the south with drilling ongoing.”