Musgrave Minerals Intersects Further Cue Gold

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported encouraging assay results from drilling at the Lena deposit and initial drilling at the Mainland prospect, both part of the company’s Cue gold project in Western Australia’s Murchison district.

Musgrave has received assays from the first reverse circulation (RC) holes drilled in the current program at Lena and from a maiden drilling program at Mainland, a recently acquired tenement holding that has produced abundant alluvial gold but where only minimal basement exploration has been conducted.

The company said the high-grade gold intercepts returned from RC drilling at Lena highlight potential at depth including:

1 metre at 25.7 grams per tonne gold from 110m down hole; and

24m at 3.2g/t gold from 140m down hole, including 4m at 13.1g/t gold from 151m including, 1m at 42.8g/t gold from 153m.

High-grade gold was also intersected at Mainland including:

3m at 5.4g/t gold from 74m down hole.

“These are exciting results at Lena and Mainland. At Mainland, the initial program has returned strong results and further drilling is planned,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The upside at Lena is significant with drilling confirming high-grade gold mineralisation below the existing resource that remains open.

“Our reinterpretation of the geology and shoot control has highlighted the excellent potential to extend the current Lena resource and we look forward to further strong results as drilling continues.”