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Musgrave Minerals Updates Break of Day Mineral Resource

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

Musgrave Minerals’ Mineral Resource (Indicated and Inferred) update at Break of Day has estimated the Starlight and White Light lodes to host: 360,000 tonnes at 13.9 grams per tonne gold for 161,000 ounces of contained gold.

The total Indicated and Inferred Mineral Resources for the Break of Day deposit now stand at 797,000 tonnes at 10.2g/t gold for 262,000 ounces of contained gold.

When combined with Musgrave’s nearby Lena Resource located only 130m to the west, the two deposits host a combined 5.1 million tonnes at 3.6g/t gold for 587,000 ounces of contained gold, of which a large component will be amenable to open pit mining methods.

“This is a significant milestone for the company with ongoing focus on grade and margin,” Musgrave Minerals managing director Rob Waugh said in the company’s ASX announcement.

“It confirms Break of Day as a standout, high-grade, near-surface gold deposit that will largely be amenable to open pit mining.

“The deposit sits on a granted Mining Lease in a region with excellent infrastructure within a favourable mining jurisdiction.

“High-grade top cuts were used in the resource impacting the bonanza grades near surface at Starlight.

“Undeveloped, near-surface, high-grade gold resources, close to existing infrastructure, are very rare in Australia.

“The growing resource base on our 100 per cent-owned Cue project, which includes Break of Day and Lena is exceptional and carries significant value.

“We are continuing to make new discoveries and grow the 100 per cent-owned gold resources at Cue.

“This latest update increases the contained ounces in the Break of Day Resource and improves the overall grade of the deposit while also delivering a major uplift in the geological confidence by refining the geological model and growing the Indicated Resource category.

“With drilling continuing to intersect high-grade gold on new regional targets, we are looking forward to further exciting results as the programs progress.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

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:

20MUAC058
4 metres at 13.1 grams per tonne gold from 1m, including 3m at 17.3g/t gold from 1m; and

20MUAC058
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.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals Achieves High Gold Recoveries at Starlight

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) completed initial metallurgical test work on the Starlight gold lode at Break of Day, on the company’s wholly-owned ground at the Cue project in the Murchison region of Western Australia.

Musgrave Minerals described the results as being “exceptional” with testwork highlighting gravity and cyanide leach recoveries averaging 98 to 99 per cent across the different domains (oxide, transitional and fresh).

The testwork also highlighted the amenability to conventional gravity and leaching techniques using standard reagents.

Metallurgical recovery tests were completed on the four samples (oxide, transitional and 2 x fresh composites) at various grind sizes across the strike and depth extent of the Starlight lode.

The gravity recoverable component was initially concentrated using a conventional laboratory scale bench top Knelson concentrator, followed by amalgamation and intensive cyanide leaching of the concentrate.

A conventional 48hr cyanide leach was then carried out on reground (P80 75µm) residual material from the Knelson concentrator with readings taken periodically to determine leach kinetics of the samples.

The test work demonstrated very rapid leaching kinetics for all four samples and overall recovery of between 98.8 per cent and 99.5 per cent over short leach times.

“This is a fantastic result at Starlight – Break of Day,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The very high total gold recovery and high gravity-only component recovery ensures that conventional processing options can be applied in any development scenario and also means the mineralisation is suitable for treatment through several of the nearby processing facilities currently in operation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

 

High Margins the Goal for Musgrave Minerals

THE CONFERENCE CALLER: It’s seems one of the mantras underpinning Musgrave Mineral’s (ASX: MGV) gold exploration strategy in Western Australia is an old, but simple, one – grade is king. By Mark Fraser

From all indications this chant is quietly being repeated by the company as it goes about sizing up high margin gold ounces at its Cue project in WA’s Mid West.

Located 40 kilometres north of Mt Magnet just off the road to the historic mining town of Cue, the undertaking – via the advanced Break of Day ore body – already has an indicated and inferred resource of 686,000 tonnes grading 7.2 grams/t gold for 199,000 oz along 28 km of strike.

At the moment, though, Musgrave Minerals is focusing on the establishment of new resources at its recent Starlight and White Light discoveries, a task it hopes to complete by the end of this month.

These targets – which effectively revealed Cue’s robust upside to the market – have provided “a significant change for Musgrave” by exposing some high angle, close-to-surface mineralisation in previously undiscovered north-east lodes to the south.

During his presentation at the Diggers & Dealers Mining Forum in Kalgoorlie-Boulder, the company’s managing director Rob Waugh pointed out that in the past around 3-4 metres of hardpan cover over had more or less disguised potential mineralisation.

“And as far as surface geochemistry goes, we are in an area where there has been a fair bit of historical activity around small, little pits and historical operations back from 1885, so a long way back,” he noted.

“But that has led to a significant geochemical halo in this region, which has meant that people haven’t been able to focus on individual lode orientations very well through geochemistry.

“So, there is definitely opportunity here going forward (for) making new discoveries.

“It’s important to note that when we turned the rig around here, about six months ago, this is the first time anyone has drilled in this whole belt in this orientation – effectively forever.

“First drilling here was in the 1970s, but no one has turned the rig around.”

Some of the high-grade gold intersections at Starlight so far:

22m at 21 g rams per tonne gold (from 2m);

14m at 190g/t (4m);

77m at 13.3g/t (7m);

68m at 5.9g/t (21m);

31m at 44.8g/t (37m);

12m at 109g/t (40m);

42m at 6.8g/t (70m), and;

60m at 13.1g/t (77m).

Meanwhile, new mouth-watering gold intercepts under 2-3m of hardpan cover where there had been no previous drilling included 5m at 13.4g/t (28m) and 4m at 15.4g/t (41m).

In addition, Waugh said, gold recoveries achieved from metallurgical test work at Break of Day and Lena (to the north-west) totalled 96-97 per cent from conventional gravity and carbon-in-leach processing.

Furthermore, high gravity recoveries (over 73%) were also made in the fresh rock.

This, he noted, was good when compared to typical Yilgarn Craton gold ores and suggested low reagent use and reduced processing costs. Importantly, there were no deleterious elements present.

As part of its ongoing exploration strategy, Waugh explained, Musgrave Minerals would continuing step out drilling in a north-east orientation.

“Some of these grades we are seeing are the highest intersected in Australia and the world in the last 12 months, and the fact we are getting them within three to four metres of surface is phenomenal,” he told the Diggers & Dealers crowd.

“People have been talking about not being able to find high grade surface mineralisation in Australia, and obviously we are an exception to that.”

Ultimately, Waugh said, Musgrave Minerals was looking for high margin oz.

“The focus is for us is not on tonnes, it’s not on oz, but on margins,” he noted.

“For us really it is about grade.”

 

 

Musgrave Minerals Hits New Gold Target

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) is in the midst of an aircore/reverse circulation (RC) drilling program on 100 Musgrave-owned ground at the company’s Cue gold project in the Murchison district of Western Australia.

Musgrave Minerals has received assay results for the first 49 drill holes from the current regional program that is testing for new Starlight analogue targets on trend with the new high-grade Starlight gold discovery at the Break of Day deposit.

Target 2, located 400m south of Starlight intersected high-grade gold near surface in two adjacent holes.

The mineralisation is blind from surface, hidden below two to three metres of transported hardpan clays and is open along strike and down dip.

A single aircore/RC traverse across Target 2 intersected:

20MUAC008
5 metres at 13.4 grams per tonne gold from 28m, including 2m at 30.9g/t gold from 28m; and

20MUAC009
8m at 8.4g/t gold from 41m, including 4m at 15.4g/t gold from 44m.

The company explained these two aircore drill holes were collared 20m apart and were extended into fresh rock with RC hammer.

Musgrave acknowledged additional follow-up drilling will be required to define the strike and depth extent of this new mineralised position.

Drilling at targets 1, 3, and 7 also returned anomalous gold results in the regolith (weathered zone) with further assessment required before follow-up drilling is scheduled.

“This is a great start to the regional program,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Any significant gold anomalism on these new targets is encouraging but to get these high-grades from this reconnaissance program is a very exciting result.

“We’re currently planning further follow-up drilling to commence in late October.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals Confirms Break of Day High Grades

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported on infill drilling at the Break of Day deposit at the company’s Cue gold project in Western Australia.

Musgrave Minerals received assay results for 18 reverse circulation (RC) drill holes from a recent infill program at Break of Day, which has confirmed a number of near surface extensions to the gold mineralisation at Break of Day on the Twilight and Velvet gold lodes.

Musgrave conducted the drilling to identify shallow extensions to the existing gold lodes and improve the confidence in the geological model.

The majority of this drilling was within the limits of the existing Break of Day resource estimate, however some intervals of high-grade gold were intersected outside the current resource.

High grades were encountered near surface including:

20MORC110
3 metres at 40 grams per tonne gold from 83m; and
9m at 3.1g/t gold from 30m

20MORC099
3m at 20.8g/t gold from 79m;

20MORC088
3m at 9.2g/t gold from 44m

20MORC082
2m at 13.3g/t gold from 39m;

20MORC090
9m at 5.6g/t gold from 106m, including 2m at 16g/t gold from 110m; and

20MORC079
2m at 5g/t gold from 15m.

“These are encouraging results and confirm the near surface gold potential on the Twilight and Velvet gold lodes,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“The identification of high-grade results outside the existing Twilight and Velvet geological model increases the upside potential and the possibility of additional, previously unidentified lodes being discovered.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals Extends Starlight Discovery Mineralisation

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported more positive results from a further 10 reverse circulation (RC) drill holes and four diamond drill holes carried out as part of the current program at the company’s Cue gold project in Western Australia.

Musgrave is continuing to drill at the new Starlight gold discovery at Break of Day in order to confirm the high-grade nature of the Starlight discovery.

Starlight remains open down plunge where drilling is continuing.

All intercepts reported in the current drilling program are outside the existing Break of Day resource estimate.

RC drilling at Starlight returned strong gold intercepts, including:

20MORC085
12 metres at 19.5 grams per tonne gold from 3m;

20MORC071
8m at 17g/t gold from 74m in the main Starlight lode, including 2m at 56.4g/t gold from 74m, and;
4m at 16.1g/t gold from 149m in a footwall position.

20MORC069
12m at 9.4g/t gold from 129m, including 5m at 20.6g/t gold from 129m.

Diamond drilling at Starlight also returned encouraging intercepts, including:

20MODD010
5.6m at 12.7g/t gold from 257.6m; and

20MODD009
4.7m at 7g/t gold from 132.2m.

“These are further excellent drill results from Starlight which is showing great continuity in the top 200 metres,”

“We are currently focusing on the depth extents at both Starlight and the new White Light discovery.

“The regional program has also kicked off with the focus on making additional high-grade gold discoveries in the belt.”

Musgrave has taken delivery of an additional drill rig to test for new lodes within the Break of Day/Lena mineralised corridor on 100 per cent owned Musgrave ground.

This program will test 18 new targets derived from geophysical, geochemical and geological data and focus on the potential for high-grade gold mineralisation on structures cross-cutting stratigraphy similar to that seen at Starlight.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals Drills Its Way to Gold Success

THE DRILL SERGEANT: Musgrave Minerals has been one of the standout performers among junior gold stocks in recent months due to its success with drilling at the Break of Day deposit, part of its Cue gold project in Western Australia’s Murchison district.

Musgrave shares have soared from 10 cents at the start of April to a record high of 83 cents this week thanks primarily to some thick, near-surface and exceptionally high-grade hits from the Starlight lode at Break of Day, including:

85 metres at 11.6 grams per tonne gold from 7m,

60m at 13.1 g/t gold from 76m, and

42m at 77.3 g/t gold from 30m.

Musgrave Minerals managing director Rob Waugh, a former WMC geologist, told The Resources Roadhouse the Starlight discovery might never have happened had the company not challenged conventional thinking around the geology that features in that part of the Murchison.

“There was a slight geological anomaly that didn’t fit the existing model,” Waugh said.

“That was reason enough for us to start thinking differently.

“We turned the drill rig around.”

The mineralised structure in which existing resources at on Musgrave’as 100 per cent-owned ground at Cue (6.45 million tonnes at 3g/t gold for 613,000 ounces) are hosted run in a north-west/south-east orientation, whereas the holes drilled at Starlight are the only holes in the whole project area drilled in a north-east/south-west orientation.

The interpretation confirmed by Starlight’s discovery has shed a new light on Cue and already resulted in the discovery of another parallel lode, White Light, at Break of Day.

Musgrave has advised that it will release an updated resource estimate for Break of Day including Starlight and White Light at the end of the September quarterly, which should see a material increase to the deposit’s current resource of 868,000 tonnes at 7.2g/t gold for 199,000 ounces.

Break of Day already demonstrated the potential to support a mine; the new discovery at Starlight has only increased its development prospects as the near-surface gold should allow for rapid payback of project capital.

The Cue project is in a part of the Murchison that is rich with gold processing infrastructure, with five operational mills within proximal distance.

These mills all present potential options for treating ore from Musgrave deposits.

Drilling is continuing at Starlight with a focus on infilling and extending the high-grade mineralised at depth, where it remains open.

Musgrave is also continuing to test for new lodes within the Break of Day/Lena mineralised corridor, with a third rig due to start drilling on its 100%-owned ground at Cue in mid-August.

The company signed an $18 million earn-in and joint venture agreement with Evolution Mining in September last year over a portion of its ground at Cue include Lake Austin.

Evolution must spend a minimum of $4 million in the first two years, and as part of that activity, the partners are undertaking a large aircore drilling program identifying and testing targets on Lake Austin.

 

Musgrave Minerals is presenting at the M+C Partners/Vertical Events Gold ‘n Brews Seminar.

RSVPs are required to attend this free event. To do so CLICK HERE.

 

Musgrave Minerals’ Gold Hits Continue to Shine at Starlight

THE DRILL SERGEANT: The needle-of-truth has continued to deliver for Musgrave Minerals (ASX: MGV) with drilling at the company’s 100 per cent-owned Cue project confirming its Starlight and White Light gold discoveries.

Musgrave Minerals reported assay results for a further five reverse circulation (RC) drill holes and the first five diamond drill holes from the current program at the new Starlight gold discovery at Break of Day.

RC drilling at Starlight delivered strong gold intercepts including:

20MORC068
14 metres at 191.1 grams per tonne gold from 4m, including 3m at 884.7g/t gold from 5m, including 1m at 2,518.8g/t gold from 6m;

20MORC067
22m at 5.8g/t gold from 15m, including 3m at 26.2g/t gold from 31m;

20MORC064
5m at 14.3g/t gold from 90m; and

20MORC063
6m at 5.3g/t gold from 232m.

Diamond drilling at Starlight returned intercepts including:

20MODD008
16m at 13.7g/t gold from 18m, including 4m at 40.8g/t gold from 18m and 9m at 6.1 g/t gold from 25m; and

20MODD007
0.5m at 25.4g/t gold from 269.5m.

Musgrave is continuing with drilling at Starlight, focussing on infilling and also extending the high-grade gold mineralisation at depth.

Drilling will also continue to test for new lodes within the Break of Day/Lena mineralised corridor with a third drill rig due to commence on the 100 per cent-owned Musgrave ground in mid-August.

Recent drilling undertaken at these locations returned:

20MODD007 (White Light lode)
3.8m at 40.5g/t gold from 100.2m, including 0.75m at 203.3g/t gold from 100.2m;

20MODD007 (Twilight lode)
0.7m at 34.1g/t gold from 65.1m; and

20MORC063 (Velvet lode)
12m at 6.4g/t gold from 40m.

“Starlight continues to produce stunning gold results in near-surface drilling,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Further RC drilling is underway to infill and extend the Starlight mineralisation with the aim of completing a JORC resource update late in Q3 2020.

“Diamond drilling is also continuing to test for depth extensions of the high-grade Starlight lode below 250 vertical metres and to further define the White Light lode.

“We anticipate having four drill rigs on site by mid-August.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@musgraveminerals.com.au

 

Web: www.musgraveminerals.com.au

 

Musgrave Minerals Claims New Gold Discovery at Cue

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) delivered a new gold discovery from results from drilling carried out at the company’s Cue gold project in Western Australia.

Musgrave Minerals reported assay results for a further twelve reverse circulation (RC) drill holes from the current program at the company’s new Starlight gold discovery at Break of Day.

Drilling has continued to confirm the Starlight discovery and has also identified a second high-grade lode 75 metres to the south and striking parallel to Starlight.

Assays received from recent RC drilling at Starlight include:

20MORC040
6 metres at 35.8 grams per tonne gold from 131m; and

20MORC048
5m at 7.2g/t gold from 230m.

The new lode; White Light, has been confirmed from RC drilling with new intercepts aligning with a number of historical isolated gold intersections over a strike extent of more than 100m.

RC drill intercepts from the new White Light lode include:

20MORC050
6m at 54.4g/t gold from 211m;

20MORC048
6m at 5.4g/t gold from 111m; and

20MORC004
9m at 5.1g/t gold from 21m.

Both lodes remain open to the south-east and down dip where drilling is continuing.

All recent intercepts at Starlight and White Light are outside the existing Break of Day resource.

The Starlight and White Light lodes at Break of Day are located on the company’s 100 per cent-owned ground.

Drilling at both lodes is continuing, with a focus on infilling and extending the high-grade gold mineralisation.

Drilling will also continue to test for new lodes within the Break of Day and Lena system.

“This is another positive result for the company as we build the high-grade gold resource base at Cue,” Musgrave Minerals managing director Rob Waugh said in the company’s announcement to the Australian Securities Exchange.

“Drilling is continuing and we are confident we can extend the lodes and make new discoveries as our geological knowledge of the system grows.

“We have extended our RC drill program following the new White Light discovery as we build towards a resource update late in Q3 2020.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@musgraveminerals.com.au

Web: www.musgraveminerals.com.au