Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has delivered strong gold results outside the measured resource boundary at the Cue Gold Project's Amarillo prospect in WA's Murchison district.
MGV conducted reverse circulation (RC) drilling at Amarillo some 800 metres southwest of the White Heat-Mosaic discovery and 800 metres north of the Big Sky prospect.
The best intersections include:
- 7 metres at 23.7 g/t gold from 102 metres, including 1 metre at 118 g/t from 107 metres;
- 1 metre at 17.7 g/t from 80 metres;
- 14 metres at 1.9 g/t from 31 metres;
- 14 metres at 1.1 g/t from 29 metres;
- 9 metres at 1.0 g/t from 47 metres; and,
- 2 metres at 4.8 g/t from 117 metres.
These results demonstrate potential to add to the resource estimate base, as they all originate from beyond the measured boundaries at Amarillo.
Two parallel lodes have now been interpreted at Amarillo, with a combined strike of 400 metres that remains open at depth.
Exploration methods “very effective”
“This is another series of good results and further confirmation that our exploration methodology at Cue is very effective,” Musgrave Minerals managing director Rob Waugh said.
“Further infill drilling is planned at the new Amarillo discovery to support a maiden mineral resource estimate that will likely be completed in late 2022.
“The resource estimates for White Heat-Mosaic and Big Sky are progressing with the further receipt of drill results awaited, and will be announced on completion late next quarter.”
Musgrave is planning resources definition drilling at Amarillo, designed to provide a maiden resource estimate for the prospect in late 2022.
Mineral resource estimates for the Big Sky and White Heat-Mosaic prospects are progressing, but with the final drill results pending, the updates are expected late next quarter.
Ongoing activities
Musgrave is working through the following initiatives:
Musgrave 100% tenements
- Further extensional drilling of the White Heat-Mosaic and Big Sky prospects is currently being planned. This drilling will focus on further infill and extensional drilling 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 in quarter two of 2022 for both Big Sky and White Heat-Mosaic;
- RC pre-collars for phase ne resource conversion diamond drilling at Break of Day and Lena are complete and the drilling of diamond tails is ongoing. Further drill results are pending;
- 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 the new Big Sky and White Heat-Mosaic discoveries will commence post resource update.
Evolution JV
- Diamond drilling to test the basement beneath regolith gold mineralisation on Lake Austin is continuing;
- A new regional program of aircore drilling to test new targets derived from the exploration success at the West Island prospect has commenced; and
- Evolution is now manager of the joint venture.