Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has received high-grade, near-surface gold intersections from explorational reverse circulation (RC) drilling at the new Mosaic Lode and extensional drilling at the Break of Day deposit within the flagship Cue Gold Project in the Murchison district of Western Australia.
The Mosaic Lode near the White Heat prospect is a fairly new deposit. These new intersections add a further 80 metres to the prospect’s strike length, with highlights of:
- 4 metres at 79.6 g/t gold from 20 metres, including 3 metres at 105.4 g/t from 20 metres;
- 4 metres at 8.9 g/t from 61 metres;
- 3 metres at 6.5 g/t from 50 metres;
- 2 metres at 7.8 g/t from 92 metres; and
- 2 metres at 5.8 g/t from 58 metres.
Extensional drilling at the Break of Day deposit was focused outside the existing mineral resource estimate, offering the opportunity to add new ounces to the resource:
- 6 metres at 4.3 g/t gold from 84 metres;
- 2 metres at 10.4 g/t from 138 metres to end of hole; and
- 6 metres at 2.4 g/t gold from 66 metres.
“Continue to highlight upside potential”
“These results from the new Mosaic Lode at White Heat continue to highlight the upside potential of the project,” Musgrave Minerals managing director Rob Waugh said.
“The near-surface high grades intersected at Cue are some of the best, recent near-surface exploration hits in the Yilgarn.
“We are continuing to grow our understanding of the system and the controls on mineralisation, and have confidence in our ability to grow the mineral resource base.
“We are on track to deliver a maiden mineral resource for Big Sky and White Heat-Mosaic in late Q2 2022.”
Musgrave is still awaiting assay results from drilling at the Big Sky and Armarillo prospects and further regional aircore targets.
Current activities
Musgrave 100% tenements
- Further extensional drilling of the White Heat-Mosaic and Big Sky prospects is being planned. This drilling will focus on definition of the high-grade shoots below 120 vertical metres (the current base of RC drilling);
- Further assay results from resource drilling at the Big Sky prospect are pending. A maiden mineral resource estimate is scheduled for late Q2 2022 for both Big Sky and White Heat/Mosaic;
- RC pre-collars for phase 1 resource conversion diamond drilling at Break of Day and Lena are complete and the drilling of diamond tails has commenced;
- A regional aircore program to the west of Lena is now complete. Final assays are pending; and
- Works to progress the pre-feasibility level studies at Break of Day and Lena are ongoing.
Evolution JV
- Diamond drilling to test the basement beneath regolith gold mineralisation on Lake Austin is continuing;
- Assay results for diamond drill holes at West Island are pending; and
- Assay results for aircore drill holes completed in late 2021 on the JV area are pending.
About Musgrave Minerals
Musgrave Minerals is an active explorer and 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.