Posts

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.

 

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.

Musgrave Minerals said the drilling is part of its $18 million Earn-in and Exploration Joint Venture with Evolution Mining (ASX: EVN).

The aircore drilling program will test four target areas and consist of 200 drill holes, taking approximately three months to complete with first assays expected in April.

“This regional geochemical exploration program is another important step to test the gold potential of this highly prospective area under the cover sediments of Lake Austin,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

Elsewhere, Musgrave Minerals is busy on the company’s 100 per cent-owned tenements.

The company is progressing towards delivering an anticipated Resource at the Lena deposit later in Q1 2020.

Reverse circulation drilling at Break of Day is testing Musgrave’s new ‘link-lode’ position with first assays expected in March 2020.

Reverse circulation drilling is also testing the new high-grade gold discovery at the Consols prospect, within the Mainland area, from which first assays expected in late March 2020.

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

THE DAILY ROADHOUSE

 

Northern Minerals Samples Encouraging Copper Results at John Galt

THE DRILL SERGEANT: Northern Minerals (ASX: NTU) achieved high-grade copper assays following a selective rock chip sampling program at the company’s 100 per cent-owned John Galt project, Kununurra in the East Kimberley region of Western Australia.

Musgrave Minerals Continues to Line Up Gold Hits at Cue

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further high-grade gold results from reverse circulation (RC) drilling at the company’s Cue gold project in the Murchison district of Western Australia.

Galan Lithium Confirms Pata Pila Lithium Grades

THE DRILL SERGEANT: Galan Lithium (ASX: GLN) announce further lithium assay results from recent sampling performed at the Pata Pila tenement within the company’s Hombre Muerto lithium brine project in Argentina.

 

Musgrave Minerals Continues to Line Up Gold Hits at Cue

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported further high-grade gold results from reverse circulation (RC) drilling at the company’s Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals encountered the latest hits at the Lena deposit and from individual one metre resamples from drilling at Break of Day and Mainland.

Results from the RC drilling at Lena have continued to define the high-grade gold shoots, including:

19MORC039
5 metres at 12.1 grams per tonne gold from 82m, including 2m at 28.3g/t gold from 82m, within a broader interval of 46m at 1.5g/t gold from 82m to EOH;

19MORC041
9m at 6.4g/t gold from 116m down hole, including 2m at 22.3g/t gold from 121m; and

19MORC042
3m at 5.4g/t gold from 113m down hole.

The Lena mineralisation remains open down plunge with a resource update scheduled for Q1, 2020.

The one-metre resampling returned:

Mainland-Consols

19MORC018
3m at 38.2g/t gold from 113m down hole, including, 1m at 102.5g/t gold from 114m.

Break of Day

19MORC031
3m at 7.2g/t gold from 128m down hole.

“These are further strong results at Lena, Break of Day and Mainland and continue to highlight the resource growth potential of all three prospects,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“With drilling already commenced for the 2020 year we are looking forward to more exciting results as the programs progress.

“The strong results from drilling at Lena to date confirm the geological interpretation which is showing good continuity of the high-grade shoots at depth and will further enhance the resource update expected later in Q1 2020.”

Lena, Break of Day and Mainland are not part of the Evolution Joint Venture.

Diamond drilling on the Evolution JV at Lake Austin North is progressing, having recommenced following the Christmas break and will continue through to late January.

Assay results are expected in March 2020.

On the broader JV area over Lake Austin at Cue, Evolution and Musgrave are planning a large aircore drilling program to further define gold targets for basement drill testing.

This drilling is scheduled to commence in early February 2020.

Follow-up drilling of a possible ‘link-lode’ at Break of Day is scheduled to commence in late January 2020 and if successful, will enable a possible resource update in Q2 2020.

Further follow-up RC drilling at Mainland on the Consols target is scheduled to commence in February 2020.

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

THE DAILY ROADHOUSE

 

Musgrave Minerals Intersects High-Grade Link Lode at Break of Day

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the intersection of high-grade gold in a ‘link’ position joining the two main gold lodes at the Break of Day deposit on the company’s Cue gold project in Western Australia.

Carawine Resources Identifies New Victorian Porphyry Copper-Gold Targets

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced geophysical results from a detailed helicopter-borne magnetic and radiometric (heli-mag) geophysical survey completed at the company’s 100 per cent-owned Jamieson project in northeast Victoria, host to the Hill 800 and Rhyolite Creek prospects.

Alicanto Minerals Completes Geophyisal IP Survey at Wolf Mountain

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) completed its maiden IP survey at the company’s Wolf Mountain copper-gold target area within the Bergslagen district of Southern Sweden.

Ausgold Raising up to $3.6 Million for Katanning Gold Project

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) informed the market it has received binding commitments from institutional and sophisticated investors for a share placement to raise $2.376 million.

 

Musgrave Minerals Intersects High-Grade Link Lode at Break of Day

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the intersection of high-grade gold in a ‘link’ position joining the two main gold lodes at the Break of Day deposit on the company’s Cue gold project in Western Australia.

Musgrave Minerals recently completed a six-hole RC drill program at Break of Day that extended the high-grade gold mineralisation to the south as well as identifying a new high-grade ‘link-lode’ structure between the two main Twilight and Velvet gold lodes.

The company explained the identification of a high-grade ‘link-lode’ structure at Break of Day could hold some significance.

Linking structures are present in many Yilgarn gold deposits and have the potential to add lots of ounces and improve the economics of the deposits by increasing ounces per vertical metre within sections of the deposit.

Drill hole 19MORC037 was drilled to confirm a high-grade thicker section of the Break of Day system and test a new structural interpretation.

The hole identified a quartz dominant linking structure and gold lode assaying:

45 metres at 11.8 grams per tonne gold from 144m down hole, including 5m at 29.2g/t gold from 150m; and
23m at 16.2g/t gold from 166m.

Musgrave said it has yet to confirm the strike and plunge of the mineralisation in 19MORC037, which has made it difficult for the company to estimate the true width of the intersection at this time.

“Drill hole 19MORC037 (45m at 11.8g/t gold) was drilled to test a new hypothesis and structural interpretation and is a fantastic high-grade result for Break of Day on intersecting a potential new link-lode,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“This result opens numerous possibilities and opportunities to discover additional lodes and grow the Break of Day resource.

“Break of Day continues to deliver consistent high-grades and a few nice surprises.”

Drill hole 19MORC031 was drilled 35m south of previous drill hole 19MORC015 (2m at 9g/t gold) and returned a high-grade result of:

6m at 5.6g/t gold from 126m down hole in 6m composite samples.

Hole 19MORC033 intersected:

2m at 3.3g/t gold.

This was encountered 50m down dip of 19MORC015 and Musgrave has interpreted this to indicate the mineralisation continues at depth and is plunging to the south.

Musgrave is already planning additional follow-up drilling that will be scheduled for Q1 2020, which the company expects to lead to a resource update in Q2 2020.

The Break of Day area is excluded from the Earn-in and Exploration Joint Venture Musgrave has with Evolution Mining (ASX: EVN).

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au

 

THE DAILY ROADHOUSE

 

Stavely Minerals Expands Thursday’s Gossan Mineralisation

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) received assay results for further diamond drill holes undertaken at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

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.

Corazon Mining Adds Further Nickel to Lynn Lake Resource

THE DRILL SERGEANT: Corazon Mining (ASX: CZN) announced an upgraded Mineral Resource Estimate for the comapy’s Lynn Lake nickel-copper-cobalt sulphide project in Canada.

Matador Mining Progresses Cape Ray Environmental Assessment

THE BOURSE WHISPERER: Matador Mining (ASX: MZZ) updated the market on progress of the Environmental Assessment (EA) process for the company’s Cape Ray gold project in Newfoundland, Canada.