Musgrave Minerals’ Regional Drilling Hits More Gold

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) announced hitting more gold via drilling of 56 aircore/reverse circulation (RC) drill holes on the company’s 100 per cent-owned ground at the Cue gold project in Western Australia.

Musgrave Minerals’ latest round of drilling is testing new Starlight analogue targets on trend from the high-grade Starlight gold discovery at the Break of Day deposit.

The regional drilling program targeting Starlight analogues at Cue intersected high-grade gold at Target 9 – also known as Leviticus, 1.8km south of Break of Day.

A single north-south aircore/RC traverse across the Leviticus target intersected two separate zones of high-grade, near-surface gold mineralisation.

Results include:

4 metres at 13.1 grams per tonne gold from 1m, including 3m at 17.3g/t gold from 1m; and

2m at 10.3g/t gold from 33m.

To date 20 traverses have been completed with assays received for 12 traverses and anomalous gold intersected at 10 of the targets, including high grade, near surface intersections at Target 9 (Leviticus) and Target 2.

Leviticus hosts an existing inferred resource of 42,000 tonnes at 6g/t gold for 8,000 ounces of gold.

“Positive results from the regional drilling program continue to highlight the upside gold potential following a re-interpretation of the gold lode geometries within the Break of Day shear corridor,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Regional target drilling is continuing to test targets, and follow-up of the high-grade results at Target 2 is underway with Leviticus follow-up to follow.”