Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) continues to enhance the potential value of Big Sky deposit at the Cue Gold Project in Western Australia with new mineralised intervals of greater tenor than those previously drilled at the site, pointing to a possible resource upgrade.
Reverse circulation (RC) drilling at Big Sky targeted near-surface gold mineralisation in both infill and extensional drilling around the deposit.
Extensions outside the current mineral resource boundary included:
- 4 metres at 20.9 g/t gold from 19 metres;
- 3 metres at 10.1 g/t from 95 metres;
- 7 metres at 2.8 g/t from 34 metres;
- 1-metre at 17.7 g/t from 37 metres; and
- 1-metre at 20.3 g/t from 52 metres.
Of the infill drilling targeted at converting the existing Big Sky resource, a notable portion of the results returned intersections above the current resource grade, including:
- 18 metres at 5.4 g/t gold from 31 metres, including 1-metre at 70.2 g/t from 33 metres;
- 18 metres at 4.4 g/t from 20 metres, including 5 metres at 14 g/t from 33 metres;
- 8 metres at 7.8 g/t from 18 metres;
- 5 metres at 6.7 g/t from 44 metres;
- 10 metres at 2.2 g/t from 72 metres;
- 6 metres at 3.3 g/t from 32 metres; and
- 7 metres at 2.5 g/t from 32 metres.
Results confirm potential
“The latest assay results from infill and extensional resource drilling at Big Sky confirm the potential of the system to host higher grade zones and improves the confidence in the geological continuity of the deposit,” Musgrave Minerals managing director Rob Waugh said.
“A significant number of these new drill holes host mineralised intervals well above the current resource grade of the deposit.
“This is the first phase of a larger program at Big Sky with further drilling due to commence following completion of the current program at White Heat-Mosaic.
“This drilling will continue to focus on the top 120 metres of the Big Sky deposit with the aim to convert a significant portion of the near-surface mineralisation to the greater confidence indicated resource category.”
Musgrave is focused on growing the resource base at Big Sky and de-risking near-surface gold mineralisation that may be amenable to open-pit mining, which the company then intends to incorporate into ongoing pre-feasibility level studies.