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Musgrave Minerals Firms UP Cue JV with Evolution

THE DRILL SERGEANT: Musgrave Minerals announced news from the company’s Cue Joint Venture with Evolution Mining over Lake Austin in Western Australia’s Murchison district.

Musgrave reported new assay results from aircore and diamond drilling programs underway on the Cue JV with the aircore results continuing to extend the large regolith gold mineralisation at the West Island prospect and the diamond drilling returning high-grade basement gold mineralisation.

Diamond core intercepts from the December 2021 quarter included:

21MODD025
4.26 metres at 41.5 grams per tonne gold from 160.74m, including 0.41m a 400.2g/t gold from 160.74m; and

21MODD033
6m at 2.7g/t gold from 125m;

The company also announced that Evolution has elected to act as the Earn-in Manager from 1st January 2022, thus freeing up Musgrave personnel to accelerate activities on the company’s 100 per cent-owned tenure.

Evolution had initially committed to a $5 million exploration spend to fund further drilling at Cue in FY22 and have now increased the JV budget for the second half of the year.

The intent is to accelerate exploration and to delineate the scale of the gold system at West Island, to test additional gold-in-regolith aircore anomalies and define new diamond drilling targets through aircore drilling.

“The gold system at the Cue JV with Evolution continues to deliver strong results with diamond drilling confirming the potential for multiple high-grade basement gold lodes within the dolerite sill at West Island,” Musgrave Minerals managing director Rob Waugh said.

“Evolution increasing the exploration budget in H2 2022 and electing to act as Earn-in Manager from 1 January 2022 is a positive move and an indication of the upside potential of the Joint Venture ground.”

 

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals Highlights Grade Potential at Big Sky

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) awoke to a beautiful Busselton morning to lodge an announcement to the ASX before heading to the South West Connect Conference.

Musgrave Minerals reported further strong assay results from reverse circulation (RC) drilling currently underway at the Big Sky prospect along the new gold corridor south-west of Lena and Break of Day on the company’s 100 per cent-owned ground at its Cue gold project in Western Australia’s Murchison district.

Infill RC drilling at Big Sky encountered a bonanza gold grade of:

21MORC277
28 metres at 35.9 grams per tonne gold from 49m, including 1m at 898g/t gold from 49m with coarse gold visible in quartz in RC drill chips.

The drilling has identified an additional new high-grade gold position in the Big Sky footwall that remains open and untested along strike.

Footwall intercepts include:

21MORC212
7 metres at 8.6g/t gold from 43m, including 1m at 55.2g/t gold from 44m;

21MORC213
3m at 13.2g/t gold from 3m and 2m at 6g/t gold from 94m to EOH;

21MORC216
6m at 3.6g/t gold from 24m; and

21MORC279
2m at 12g/t gold from 110m.

“This is a very good result and highlights the high grade potential at Big Sky over the broader 2.6 kilometres of strike,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“It is unusual on the Yilgarn to see such coarse gold in RC drill chips and the results validate our belief that there are high grade zones within the Big Sky trend.

“The identification of a new dolerite hosted zone in the footwall of Big Sky is also a positive.

“This could be the southern extension of the same dolerite unit identified to the north on the Evolution JV.

“Gold can be hosted in many different rock types on the Yilgarn but dolerites are one of the most prolific host lithologies for large deposits.

“We are drilling full steam ahead to deliver a maiden resource for Big Sky in Q2 2022.

“It’s an exciting area and we look forward to updating the market with further results as assays are received.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

 

Rob Waugh Musgrave Minerals (ASX: MGV) October 2021

Musgrave Minerals (ASX: MGV) managing director Rob Waugh zoomed into The Resources Roadhouse to provide Wally Graham with some insights into the company’s Cue gold project in Western Australia before heading to the South West Connect Conference in Busselton.

Musgrave Minerals and Evolution Mining Encounter High-Grade Gold at Cue JV

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported assay results from recently completed diamond drilling undertaken on the company’s Cue Joint Venture with Evolution Mining (ASX: EVN) over Lake Austin in Western Australia’s Murchison district.

Musgrave Minerals declared the results to have identified strong basement gold mineralisation at the West Island prospect with gold intersections encountered over a 400 metres strike length below a strong regolith gold anomaly under Lake Austin.

The mineralisation is hosted within a differentiated dolerite unit, similar to that hosting the high-grade Great Fingall and Golden Crown deposits 25 kilometres to the north of West Island at Cue.

The first four diamond drill holes at West Island testing part of a 7km long aircore anomaly, all intersected gold mineralisation, including:

21MODD006
11.5 metres at 3.2 grams per tonne gold from 245m, including 3m at 10.6g/t gold from 247.5m;

21MODD001
11m at 3.6g/t gold from 272m, including 5m at 5.5g/t gold from 276m;

21MODD002
5m at 2.7g/t gold from 169m; and

21MODD007
0.4m at 23.5g/t gold from 144.7m.

“This is a great early result from diamond drilling and a strong endorsement of the joint venture program on Lake Austin,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“We are looking forward to the re-commencement of diamond drilling in July to further test the extent and grade of the gold system at West Island.

“Evolution’s ongoing commitment is a strong affirmation of the upside potential of the project.”

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musraveminerals.com.au

 

Musgrave Minerals Defines Basement Gold Targets on Evolution JV

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported on a recent regional scout aircore drilling program on the company’s Cue Joint Venture over Lake Austin with Evolution Mining (ASX: EVN) in Western Australia’s Murchison district.

The drilling has infilled the Lake Austin North target and extended and defined the West Island gold target, confirming potential for a large, mineralised gold system with multiple high-priority basement gold targets for follow-up.

The West Island regolith gold anomaly extends over a strike of more than 1.5km.

New results from West Island include:

20MOAC420
50 metres at 1.17 grams per tonne gold from 70m to EOH, including 4m at 7.57g/t gold from 114m;

20MOAC414
16m at 0.5g/t gold from 87m to EOH;

20MOAC362
44m at 0.31g/t gold from 108m to EOH; and

20MOAC415
16m at 0.31g/t gold from 84m.

The Lake Austin North regolith gold anomaly extends over a strike of more than 5km.

New results from Lake Austin North include:

20MOAC327
80m at 0.24g/t gold from 84m, including 19m at 0.57g/t gold from 145m.

“The joint venture aircore drilling continues to define strong consistent gold anomalies under Lake Austin indicative of a large mineralised system in the basement,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“We are looking forward to the commencement of diamond drilling in February to test the basement beneath a number of these large regolith gold targets.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals Hits High-Grade Gold on Evolution JV Ground

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) released results from regional scout aircore drilling undertaken on the Lake Austin Joint Venture with Evolution Mining (ASX: EVN) at Musgrave’s Cue gold project in Western Australia’s Murchison district.

Musgrave Minerals declared the latest drilling to demonstrate the strength of the company’s exploration model for a large gold system beneath Lake Austin.

The aircore drilling has generated multiple high-priority basement gold targets for follow-up drill testing.

New gold intersections include:

20MOAC258
5 metres at 12.1 grams per tonne gold from 90m, including 1m at 53.7g/t gold from 90m;

20MOAC273
13m at 1.9g/t gold from 96m, including 1m at 17.2g/t gold from 106m; and

20MOAC282
69m at 0.8g/t gold from 126m to EOH, including 23m at 1.3g/t gold from 159m.

“This large regional scout drilling program as part of the Evolution JV, has generated some excellent regolith gold results and has significantly extended the gold anomaly around the Lake Austin North target highlighting the potential of the area to host significant basement gold mineralisation,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“Musgrave’s regional drilling program on its 100 per cent-owned tenements is near completion and has also defined multiple targets for priority basement follow-up drilling in the new year.”

The Evolution JV excludes all the known resources at Cue (including Lena and Break of Day) and the Mainland option area.

Evolution can earn a 75 per cent interest in the JV area by sole funding $18 million on exploration over a five-year term with a minimum commitment of $4 million in the first two years.

Musgrave is manager of the JV during the initial period.

The joint venture commenced in October 2019.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals and Evolution JV Identifies Large Gold Targets at Cue

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported on drilling carried out at its Lake Austin Joint Venture with Evolution Mining (ASX: EVN), at the company’s Cue project in the Murchison district of Western Australia.

Musgrave Minerals reported assay results from a recent regional scout aircore drilling program undertaken on the Lake Austin JV with Evolution Mining, the results from which the company claims to have strengthened its exploration model for a large mineralised gold system beneath Lake Austin.

The drilling has generated multiple high-priority basement gold targets for follow-up drill testing.

The results have extended the Lake Austin North gold anomalism to a strike of over 5.5 kilometres, extended a regolith gold target at West Island to over 2.3km in strike, and defined another regolith gold anomaly with over one kilometre of strike at the Mainland East target.

Lake Austin North

20MOAC031
6m at 4.2 grams per tonne gold from 116m, including 1m at 18.2g/t gold from 117m;

20MOAC041
9m at 2.25g/t gold from 136m to EOH;

20MOAC248
13m at 0.53g/t gold from 128m to EOH;

20MOAC023
20m at 0.3g/t gold from 130m; and

20MOAC032
28m at 0.29g/t gold from 96m to EOH.

West Island

20MOAC084
2m at 1.52g/t gold from 47m to EOH;

20MOAC095
3m at 1.15g/t gold from 99m to EOH;

20MOAC112
34m at 0.28g/t gold from 93m to EOH; and

20MOAC238
28m at 0.32g/t gold from 112m.

Mainland East

20MOAC164
4m at 0.76g/t gold from 66m; and

20MOAC145
4m at 0.18g/t gold from 8m to EOH.

“These aircore results continue to show the large scale of the gold system lying hidden under Lake Austin and support the company’s view on the prospectivity of this large area,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The Lake Austin North gold anomaly now extends for over 5.5 kilometres in strike with additional new anomalies at West Island and Mainland East highlighting the potential of the system to host significant gold deposits.”

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

THE DAILY ROADHOUSE

 

Musgrave Minerals More Than Doubles Lena Deposit Gold Resource

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported a substantial resource update at the company’s 100 per cent-owned Lena gold deposit on the company’s Cue gold project in the Murchison district of Western Australia.

Matador Mining Raises $5.2M to Support Cape Ray Scoping Study

THE BOURSE WHISPERER: Matador Mining (ASX: MZZ) announced the raising of $5.2 million to support activities at the company’s Cape Ray gold project in Newfoundland, Canada.

 

Musgrave Minerals More Than Doubles Lena Deposit Gold Resource

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported a substantial resource update at the company’s 100 per cent-owned Lena gold deposit on the company’s Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals has increased the total Indicated and Inferred Mineral Resources for the Lena deposit taking it to 4.3 million tonnes at 2.3 grams per tonne gold for 325,000 ounces of contained gold.

To put things in perspective, since the previous Mineral Resource estimate that was achieved in July 2017, Musgrave Minerals has added 172,000 ounces of gold, increasing the Mineral Resources at Lena by 112 per cent and improving the overall grade of the deposit by 28 per cent to 2.3g/t gold.

The company explained the resource update incorporates the results of intensive reverse circulation (RC) and diamond drilling programs it has completed over the past six months.

The updated total Indicated and Inferred Mineral Resources for the Cue project, incorporating the Lena and Break of Day deposits and several smaller deposits, now stands at 6.45 million tonnes at 3g/t gold for 613,000 ounces of contained gold.

“We are continuing to make new discoveries and grow the existing 100 per cent-owned gold resources at Cue,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“This latest update significantly grows the contained ounces in the Lena Resource and improves the overall grade of the deposit while also delivering a major uplift in the geological confidence by reducing the drill hole spacing of the near surface component and thus growing the Indicated Resource category.

“With drilling underway at the nearby high-grade Break of Day and Mainland-Consols deposits we are looking forward to more exciting results as the programs progress.”

Musgrave has executed an $18 million Earn-in and Exploration Joint venture with Evolution Mining (ASX: EVN) over the Lake Austin portion of the Cue project.

The Break of Day, Lena and Mainland areas are excluded from the Earn-in and Exploration Joint Venture with Evolution Mining.

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

THE DAILY ROADHOUSE

 

Azure Minerals Hits Impressive Gold Infilling Loma Bonita

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) announced first assay results from mineral resource infill and extension drilling of the Loma Bonita gold-silver deposit, located at the company’s 100 per cent-owned Alacrán project in Sonora, Mexico.

Musgrave Minerals Commences Drilling on Lake Austin

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the commencement of aircore drilling on Lake Austin within the company’s Cue gold project in the Murchison district of Western Australia.

Magnetic Resources Hits High-Grade Gold Adjacent to Hawks Nest Feeder Zone

THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) reported further results from a comprehensive 465 RC-hole program completed at the company’s Hawks Nest prospect, located near Laverton in Western Australia.

Lithium Australia Now 90% Owner of Battery Recycler Envirostream

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced that it has taken its stake in Envirostream to a 90 per cent ownership interest.