Musgrave Minerals Intersects High-Grades at Mainland

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported high-grade gold results from reverse circulation (RC) drilling at Mainland on the company’s Cue gold project in Western Australia, where it has an option agreement to acquire 100 per cent of the basement gold rights.

Musgrave Minerals recently completed RC drilling that intersected high-grade gold at the Consols prospect at Mainland including:

12 metres at 8.1 grams per tonne gold from 108m down hole, including 6m at 14.2g/t gold from 114m;

2m at 55.4g/t gold from 52m down hole, including 1m at 108.3g/t gold from 52m; and

3m at 5.2g/t gold from 73m down hole.

The results have extended gold mineralisation at the Consols prospect along strike and down dip from the company’s initial drill program that intersected:

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

Consols remains open and untested along strike and at depth.

“This is a great early result at Mainland and supports the company’s view that there are significant gold discoveries still to be made in the Murchison,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“These early results are not dissimilar to the early results at Break of Day with the gold mineralisation remaining open to the west and down dip.

“Mainland has a long history of alluvial gold production and to discover a basement source for some of this historical production is a significant step forward.”

Musgrave Minerals indicated it was expecting further assay results for extensional drilling at Break of Day and Lena in mid-December following completion of the recent RC drilling program.

Meanwhile diamond drilling is underway at Lake Austin North as part of the Evolution (ASX: EVN) Joint Venture.

The Mainland area is excluded from the Earn-in and Exploration Joint Venture with Evolution Mining.