Musgrave Minerals hits gold up to 219 g/t in drilling at West Island within Cue JV Project

“This is another strong set of results and highlights the high-grade tenor of the gold systems at West Island. The drilling confirms the presence of multiple basement gold lodes and ongoing drilling is aimed at defining the grade and contin

Proactive Published 21/07/2022

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Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has unearthed more high-grade gold at West Island Prospect of the Cue Joint Venture (JV) with Evolution Mining Ltd (ASX:EVN) (Evolution Mining Ltd (ASX:EVN)) in Western Australia.

Diamond drilling at West Island has continued to strike new gold lodes, with notable results including:

2.0 metres at 66 g/t gold from 438.0 metres, including 0.6 metres at 219 g/t from 438 metres;
3.5 metres at 4.1 g/t from 215 metres;
3.8 metres at 5.0 g/t from 127.9 metres; and
3.5 metres at 16.2 g/t from 366 metres including 1-metre at 50.1 g/t from 366 metres

In addition, aircore drilling at new areas on Lake Austin has highlighted new basement targets of interest, although the majority of assays for these areas are still pending.

“Another strong set of results”

“This is another strong set of results and highlights the high-grade tenor of the gold systems at West Island,” Musgrave Minerals managing director Rob Waugh said.

“The drilling confirms the presence of multiple basement gold lodes and ongoing drilling is aimed at defining the grade and continuity of individual lodes within the host dolerite sill.

“To complement these results, aircore drilling continues to identify new untested areas of gold anomalism below the cover sequence along strike from known mineralisation.”

Musgrave is undertaking diamond drilling in parallel with the aircore program, testing basement targets along a host dolerite sill – geology Musgrave considers favourable for gold systems.

MGV’s JV partner, Evolution Mining, has also proposed an additional $5 million in exploration funding for the joint venture in the first half of this financial year, with two drill rigs on-site.

Location plan showing Musgrave’s wholly owned tenure (in green) and Evolution JV tenure.

Evolution can earn a 75% interest in the JV area by sole funding A$18 million on exploration over a five-year term.

EVN has currently spent about A$13 million on the joint venture with a further A$5 million planned for H1, FY23. Evolution is the operator of the JV and is managing the ongoing drilling programs.