Musgrave Minerals Releases More Gold Assays from Lena

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) received assay results for a further 14 drill holes from the Lena gold prospect drilled during a recently completed phase one reverse circulation (RC) drilling program on the Cue project Joint Venture in the Murchison region of Western Australia.

Musgrave Minerals said the aim of the drilling is to extend and infill the existing mineralisation to improve the shallow resource and to enhance the open cut mining potential at Lena.

Results included:

17MORC029
4m at 2.2 grams per tonne gold from 22m down hole;

17MORC034
8m at 6.4g/t gold from 13m down hole, including 4m at 10.9g/t gold from 17m and 3m at 6.3g/t gold from 58m;

17MORC035
5m at 6.2g/t gold from 46m down hole, including 1m at 20.1g/t gold from 48m with the hole terminating in mineralisation;

17MORC036
2m at 10.9g/t gold from 72m; and

17MORC038
1m at 13.1g/t gold from 51m down hole.

“These positive shallow high-grade gold results from Lena will enhance the oxide component of the existing resource estimate,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“With the next phase of drilling progressing well, we are working towards upgrading the Lena and Break of Day Mineral Resources in June 2017, and look forward to continuing to define extensions to the known high-grade gold mineralisation.”

The Lena deposit is currently defined along a 1.6 kilometre strike length and hosts a total combined Mineral Resource of 1.273 million tonnes at 1.86g/t gold for 76,000 ounces of gold.

Email: info@musgraveminerals.com.au

Website: www.musgraveminerals.com.au