Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has identified a potential new high-grade lode some 50 metres north of the Break of Day prospect of the Cue Gold Project in Western Australia, with a single drill hole targeting the new zone returning 14 metres at 2.8g/t gold from 50 metres, including 4 metres at 8.2 g/t gold.
The new lode has a potential strike of up to 100 metres, hosted within high-titanium content basalt within a favourable geological corridor at Break of Day.
“The intersection north of Break of Day may represent a new, untested high-grade lode and demonstrates the ongoing discovery opportunity within this system,” Musgrave Minerals managing director Rob Waugh said.
“This is a positive result as it bodes well for further discovery upside within the favourable Break of Day stratigraphic package. More drill testing is required to confirm the strike and dip extent of this new lode.
“In addition, further results from White Heat-Mosaic, White Light and the new Waratah zone all have the potential to add to our resource base as we continue to advance the Cue Gold Project.”
Extensional drilling results
MGV’s reverse circulation (RC) drilling program also extended gold mineralisation at other prospect along the Break of Day system.
At White Heat-Mosaic, results of 4 metres at 5.2 g/t gold from 29 metres extended the Mosaic lode up-plunge beyond the current resource boundary.
At White Light Lode, a very high-grade intersection of 2 metres at 34.7 g/t gold from 84 metres, including 1 metre at 64.3 g/t gold extended the prospect 20 metres southeast from the mineral resource boundary.
A second intercept grading 2 metres at 14.7 g/t gold also extended mineralisation in a possible new splay lode off White Light.
Finally, drilling at Waratah returned:
- 3 metres at 8.4g/t gold from 43 metres;
- 1 metre at 10.2g/t gold from 56 metres; and
- 2 metres at 4.0g/t gold from 22 metres.
Regional plan of Cue Project showing new drill hole collars and prospect locations.