Musgrave Minerals Ltd (ASX: MGV) has identified an intersection of 111.6g/t Au amidst further high-grade gold assay results and potential new lodes from regional drilling on its 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison District.
Managing Director, Rob Waugh, said Drillhole 21MORC232 has a fantastic new high-grade result and has potentially identified two new lodes in close proximity to Break of Day.
“It supports our view that there is a lot more gold to be found at Cue. We currently only have a few drill holes testing these new lodes with further drilling planned to commence next week.
“The very high-grade intersection in 21MORC232 is near surface and only 80m south of White Heat. It remains open to the west and down dip.
“All of the new gold intersections reported in this release are outside the current mineral resource estimates for Cue.
“We are expecting two additional drill rigs to arrive on site over the next week with a focus on growing the resource base and maintaining a pipeline of prospects for resource definition.”
New gold lodes – ‘Starlight analogues’
A regional RC drilling program to test for further high-grade ‘Starlight’-type analogue lodes was completed across 12 separate targets.
Four potentially significant, new zones of interest were intersected that may represent new lodes. All have very limited drill testing to date and remain open.
Drilling to the south of White Heat intersected two new mineralised positions that are approximately 80m south of White Heat, 380m south of Break of Day.
Both new lodes remain open to the west and down dip. Intersections include:
• 15m @ 111.6g/t Au from 25m (21MORC232) in a hanging-wall position, including: 5m @ 313.4g/t Au from 26m, and 18m @ 1.0g/t Au from 62m (21MORC232) in a footwall position
• 1m @ 28.4g/t Au from 76m (21MORC223) in footwall position and approximately 20m from the footwall intersection in 21MORC232
Drilling 250m north of Break of Day intersected another potential new zone with two separate mineralised lodes. Only one drill hole has currently tested this position and it remains open to the east, west and down dip.
Drilling returned:
• 1m @ 16.5g/t Au from 73m (21MORC318) and;
• 1m @ 14.4g/t Au from 90m
Follow-up RC drilling on both new target areas will commence next week.
White Heat Prospect
RC drilling at White Heat, 300m south of Break of Day has returned further gold intersections down plunge and along strike of the previous mineralisation.
Significant new intercepts include:
• 1m @ 7.4g/t Au from 175m (21MORC222) – mineralisation remains open down plunge
• 1m @ 21.8g/t Au from 158m (21MORC223) – mineralisation remains open down plunge
• 3m @ 3.5g/t Au from 23m (21MORC224) – mineralisation remains open to the west
The White Heat mineralisation has a similar strike to the Starlight lode at Break of Day, located 400m to the north, and is hosted within a basalt package of rocks thought to be the same stratigraphy as that hosting Starlight. A leached near-surface zone is present (where gold is depleted in the upper saprolite. The mineralisation remains open down plunge.
Ongoing Activities
Musgrave 100% tenements
• Follow-up drilling of the new high-grade gold lode identified south of White Heat is currently will commence next week.
• Infill resource definition RC drilling at the Big Sky prospect is continuing.
Further assay results from this drilling are expected in December. Diamond drilling is scheduled to commence next week with the aim of delivering a maiden Mineral Resource estimate in Q2 2022.
• Assay results from RC drilling at Target 14 are expected in late December.
• 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 January.
• RC pre-collars for resource conversion diamond drilling at Break of Day and Lena has commenced with diamond tails to be completed in the new year.
• A regional aircore programme is scheduled to commence next week to test the southern extension of the prospective West Island dolerite identified on the EVN JV to the north.
• Works to progress the prefeasibility 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.
For further information please visit: https://musgraveminerals.com.au/
