Recently listed Musgrave Minerals (ASX: MGV) has commenced maiden aircore drilling to test gold silver copper targets at the company’s wholly–owned Moorilyanna Project in South Australia.
Exploration will test six targets identified from mapping and sampling during field reconnaissance in late 2010 with rock chip samples returning values of up to 0.61 grams per tonne (g/t) gold, 9.6g/t silver and 4.95% copper.
The drilling campaign will comprise around 120 drill holes covering 4,000 metres with hole depths expected to vary from 20 metres to 50 metres.
The company also expects first assays in late June.
Rob Waugh, managing director, said “additional programs will commence shortly including an airborne EM survey and mobilisation of a second rig to drill our nickel-copper targets at Lyta.”
The mineralisation at the project traces over a strike extent of more than six kilometres within the main system.
The project is located 40 kilometres to the west of the Stuart Highway and the Adelaide to Darwin railway line on the eastern edge of the Musgrave Geological Province.
Musgrave’s tenements cover an area of 50,000 square kilometres in the province equating to about 5% of the state of South Australia.
Six companies have become cornerstone investors in creating Musgrave to accelerate exploration in the Musgrave region.
The six companies include mining giant Barrick Gold (NYSE: ABX), Integra Mining (ASX: IGR), Argonaut Resources (ASX: ARE), Goldsearch (ASX: GSE), Independence Group (ASX: IGO), and Mithril Resources (ASX: MTH).
Waugh added, “This is our maiden drilling program and an excellent first step just three weeks after listing."
The company hit the ASX boards on Friday 29 April, with 86 million shares on issue.