Musgrave Minerals Identifies New Cue Gold Corridor

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) believes it may have opened a new seven-kilometres-long mineralised corridor at the company’s Cue gold project in the Murchison region of Western Australia.

Musgrave Minerals recently completed basement RC drilling west of the Lena deposit at Cue that intersected gold mineralisation in what could potentially be a new mineralised corridor extending from Target 14 in the north through to Targets 5 and 20, 2.5km to the south where it remains open.

The drilling at Target 14 was targeted to identify the source of a regional regolith aircore gold anomaly 800m west of Lena, the company had interpreted to represent a possible new, untested shear corridor hosted in felsic and sedimentary lithologies.

Musgrave thinks this new corridor has a potential strike of over 7km and is along trend from Targets 5 and 20 more than 2.5km to the south.

The area has no previous drilling.

RC drilling at the Target 14 prospect, west of Lena intersected thick gold mineralisation including:

30 metres at 3.5 grams per tonne gold from 36m, including 12m at 6.9g/t gold from 36m.

Drilling at Target 5, 2.5km to the south, intersected gold mineralisation in basement, from which 1m resamples confirmed high gold grades.

Results include:

5m at 42.2g/t gold from 25m;

34m at 0.73g/t gold from 42m to EOH, including 18m at 1.2g/t gold from 48m; and

52m at 0.61g/t gold from 30m to EOH, including 12m at 1.2g/t gold from 36m.

At Target 20, 500m south of Target 5, initial RC drilling intersected:

34m at 0.74g/t gold from 38m to EOH, including 6m at 2.3g/t gold from 44m.

“These results are potentially very significant as these are the first basement drill holes into what could represent a seven kilometre stretch of a new mineralised shear corridor with no previous drilling,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“We have now intersected basement gold mineralisation in broad intervals over more than three kilometres of strike in this new shear corridor and the team is excited by the opportunity to continue to test this area.

“This new well mineralised gold corridor remains largely undrilled in bedrock and can host significant widths of high-grade gold mineralisation.

“Drilling is ongoing with further assay results expected in coming weeks from White Heat and follow-up of Targets 5, 14 and 20.”