Musgrave Minerals (ASX:MGV) reports that it has received ‘strong’ gold intersections following reverse circulation (RC) and aircore (AC) drilling at its 100% owned Cue Gold Project in WA’s Murchison District.
The results, generated by various drillholes across the projects Waratah, Amarillo, Big Sky and Numbers prospects, have intersected ‘high-grade’ gold mineralisation near surface and continue to define further ‘high-grade’ gold regolith across the Cue Gold Project tenement.
Moreover, AC drilling conducted at the Break of Day/White Heat-Mosaic trend has uncovered new regional gold targets about 140m north of the project’s Big Sky prospect.
Key intercepts from the Waratah trend include:
- Hole 21MORC228: 4m @ 29.9g/t Au from 17m, incl. 1m @ 114g/t Au from 18m
- Hole 21MORC231: 3m @ 9.8g/t Au from 12m
RC drilling has also identified two continuous mineralised zones at Waratah that boast a combined strike length of 500m.
Key intercepts from the Amarillo Prospect include:
- Hole 22MORC215: 2m @ 4.8g/t Au from 38m
- Hole 22MORC220: 2m @ 4.0g/t Au from 87m
- Hole 22MORC222: 1m @ 11.1g/t Au from 70m
- Hole 22MUAC371: 9m @ 3.8g/t Au from 44m (140m north of Big Sky)
Key intercepts from regional AC drilling include:
- Hole 22MUAC155: 2m @ 0.85g/t Au from 48m
- Hole 22MUAC166: 15m @ 0.33g/t Au from 31m
- Hole 22MUAC180: 5m @ 0.40g/t Au from 43m
- Hole 22MUAC181: 7m @ 0.28g/t Au from 39m
- Hole 22MUAC240: 2m @ 3.37g/t Au from 43m
- Hole 22MUAC241: 6m @ 0.37g/t Au from 12m
Key intercepts from the East Numbers target include:
- Hole 22MUAC379: 8m @ 0.92g/t Au from 47m
- Hole 22MUAC385: 5m @ 1.97g/t Au from 50m
- Hole 22MUAC385: 3m @ 0.68g/t Au from 71m
- Hole 22MUAC393: 2m @ 1.37g/t Au from 66m
- Hole 22MUAC398: 3m @ 1.42g/t Au from 33m
Drilling has also identified a large regional gold target east of the Numbers deposit about 1.3km in length in a previously untested area.
Speaking on the results, Musgrave Managing Director, Rob Waugh, said: “The new high-grade near-surface gold mineralisation at Waratah is a great early step towards confirming the mineralisation and identifying a maiden resource for this area.
“The new high-grade near-surface gold mineralisation at waratah is a great early step towards confirming the mineralisation and identifying a maiden resource for this area”
The aim is to undertake resource drilling from surface to 80m along the high-grade zones at Waratah, to complete a Mineral Resource Estimate in early 2023. The regional aircore targets are encouraging and will add to the pipeline of opportunities for the Company to continue to grow the resource base at Cue.”
The company also notes that the results generated by drillhole 22MUAC371, as well as the new gold discoveries intersected at Amarillo and Waratah, are all outside the existing resource areas and deliver potential to increase the known resources.
In addition, Musgrave announces it has submitted metallurgical samples from Big Sky and White Heat-Mosaic to aid in its goal of commencing gold mining operations at the project.
Musgrave Minerals is an Australian-based gold explorer with a goal of delivering exploration success and advancing development opportunities to build a profitable gold mining business at Cue for the benefit of shareholders.
The Cue Gold Project is located about 30km south of the township of Cue in the Murchison district of Western Australia and currently boasts a Mineral Resource Estimate (MRE) of 12.3Mt @ 2.3g/t Au for 927koz, including the Break of Day ‘high-grade’ trend MRE of 982kt @ 10.4g/t Au for 327koz contained gold.
Musgrave announces that it has commenced immediate follow-up RC drilling on the four new regional targets and has moved forward with plans for further follow-up drilling at the Waratah and Big Sky targets, with results from the metallurgical sampling expected in November.
Further assays from RC and AC drilling are expected in October.
Images: Musgrave Minerals Ltd
