Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has made more progress toward a mineral resource estimate for Big Sky prospect within the Cue Gold Project in Western Australia's Murchison district, intersecting multiple high-grade gold hits in reverse circulation (RC) resource drilling.
The company also recently defined a large new gold corridor along strike from the main Big Sky deposit and received very high-grade hits from drilling at White Heat deposit, which it is now following up with more RC drilling.
MGV says the latest results from infill resource drilling at Big Sky have confirmed the potential for the system to host higher grade gold zones with continuity of individual sub-vertical lodes.
Mineralisation at Big Sky remains open down dip, which the company intends to explore in subsequent programs. Assays from the Big Sky infill drilling over 1 g/t gold include:
- 3 metres at 11.5 g/t gold from 26 metres and 2 metres at 12.3 g/t from 39 metres;
- 2 metres at 17.6 g/t from 105 metres;
- 17 metres at 1.6 g/t from 99 metres;
- 3 metres at 9.5 g/t from 9 metres and 4 metres at 4.2 g/t from 59 metres;
- 3 metres at 10.9 g/t from 21 metres, 10 metres at 2.4 g/t from 45 metres and 2 metres at 9.6 g/t from 69 metres;
- 2 metres at 13.5 g/t from 38 metres and 17 metres at 1.5 g/t from 68 metres;
- 6 metres at 5.2 g/t from 42 metres;
- 4 metres at 20.4 g/t from 37 metres and 25 metres at 1.0 g/t from 65 metres to the end of hole;
- 10 metres at 5.2 g/t from 20 metres, including 1-metre at 42.8 g/t from 27 metres, and 6 metres at 3.4 g/t from 63 metres;
- 2 metres at 9.6 g/t from 0 metres, 5 metres at 8.3 g/t from 62 metres and 10 metres at 2.4 g/t from 73 metres; and
- 4 metres at 5.4 g/t from 50 metres and 10 metres at 2.0 g/t from 80 metres.
“Confirms potential for high-grade zones”
Musgrave Minerals managing director Rob Waugh said: “These are excellent results and confirm the potential for high-grade zones at Big Sky. Resource RC drilling will recommence in the new year at Big Sky.
"The RC rig has moved to White Heat to follow-up the very high-grade result (15 metres at 111.6g/t gold) announced on December 1 in a new lode position.
“The company currently has four drill rigs on site and is working towards a maiden mineral resource estimate at Big Sky focusing on the top 120 metres from surface, in late Q2 2022.”
Assays are still pending for about 36 RC drill holes from Big Sky and a diamond drill rig has been mobilised to site in order to focus on the mineral resource estimate expected in the second quarter of 2022.
Ongoing activities
Musgrave 100% tenements
- Follow-up drilling of the new high-grade gold lode identified south of White Heat has commenced;
- Infill resource definition RC drilling at the Big Sky prospect will continue in January. Further assay results from Big Sky are expected in early February. Diamond drilling has commenced at Big Sky with the aim of delivering a maiden mineral resource estimate in Q2 2022;
- Assay results from RC drilling at Target 14 and first-pass broad-spaced RC drill testing of new regional targets east of Break of Day (Waratah Prospect) is now complete with assays expected in late-January;
- RC pre-collars for resource conversion diamond drilling at Break of Day and Lena have commenced with diamond tails to be completed in the new year;
- A regional aircore program has commenced to test the southern extension, into 100% MGV tenure, of the prospective West Island dolerite identified on the EVN JV to the north; and
- Works to progress the pre-feasibility level studies at Break of Day and Lena are ongoing with mining studies, environmental monitoring and assessments, metallurgical, processing, design and geotechnical test-work continuing.
Evolution JV
- Assay results from follow-up diamond drilling on Lake Austin to test the basement beneath new regolith gold mineralisation are pending. Further diamond drilling will recommence in mid-January.
- Assay results from the recently completed aircore drilling program on Lake Austin are expected to define new basement targets for drill testing in the new year.
About Musgrave Minerals
Musgrave Minerals is an active explorer and a potential gold producing company.
The company’s cornerstone project is the Cue Project in the Murchison Province of Western Australia where it holds 100% of the key project tenure containing the existing gold resources.
Musgrave also has a large footprint in the Musgrave Province of South Australia and continues to review new opportunities to identify additional projects that would complement the company’s current activities and add value for its shareholders.