Musgrave Minerals (ASX:MGV) has intersected new gold mineralization from shallow depths during RC drilling at the Amarillo, Big Sky and Numbers East prospects, within the Cue Gold Project in Western Australia’s Murchison region.
“These latest assay results continue to demonstrate the significant amount of gold in the district and highlight the upside discovery potential on the Cue Gold Project,” Managing Director Rob Waugh said.
“The results will enable resource growth which has the potential to inform further development studies post the delivery of the Stage 1 PFS late in March 2023.
“Drilling continues to focus on the top 120m of select zones at the Amarillo, Big Sky and East Numbers targets and all targets remain open at depth.”
Highlights:
- These latest results continue to demonstrate the significant amount of gold in the district and highlight the upside discovery potential on the Cue Gold Project.
- The results will enable resource growth which has the potential to inform further development studies post the delivery of the Stage 1 PFS late in March 2023.
- RC results from Amarillo include 8.0m at 4.6g/t from 34m, including 1.0m at 21.5g/t from 35m.
- RC results from Big Sky include 38m at 1.2g/t from 50m, including 1.0m at 17.4g/t from 50m.
- RC results from Numbers East reconnaissance drilling in a new area with no previous basement drilling include 1.0m at 5.7g/t from 121m.
The results will be incorporated into the 3D resource model to determine the strike and true width of the mineralization. These results are part of a resource definition drill programme focused on delivering a maiden Mineral Resource for Amarillo in the second half of 2023.
Big Sky Deposit
Further infill drilling at Big Sky, two km south-west of Lena-Break of Day on MGV’s 100% ground continues to intersect significant mineralization below thin transported hardpan cover (~1-6m thick).
The Cue Project hosts a total Mineral Resource Estimate of 12.3kt @ 2.3g/t Au for 927koz contained gold with 47% of this in the higher confidence Indicated Resource category. The Big Sky deposit is a subset of this resource and hosts 4.65Mt @ 1.2g/t Au for 173koz contained gold and is currently only modelled to a maximum depth of 150m where it remains open.
This recent drilling (nine holes for 564m) continues to confirm and enhance the near-surface gold endowment along the Big Sky trend.
For further information please visit: https://musgraveminerals.com.au/
