Musgrave Minerals Ltd (ASX: MGV) announced strong results including 2m at 17.7 g/t gold from 198m, and 2m at 13.7 g/t from 178m from the RC and DD drill program at the new Starlight and White Light gold discoveries within its flagship Cue Gold Project in Western Australia.
The company reported that further strong RC drilling intercepts at White Light discovery has extended the mineralisation below 260 vertical metres where it remains open down plunge.
Significant intercepts included 2m @ 17.7g/t Au from 198m; 2m @ 11.8g/t Au from 227m; and 0.5m @ 60.1g/t Au from 308.5m.
MGV said that further drilling at Starlight has returned intercepts including 2m @ 13.7g/t Au from 178m and 12m @ 4.2g/t Au from 5m extending the near surface mineralisation to the west.
The company announced that the drill hole 20MORC105 intersected new zones approximately 100m to the south of White Light that may reflect new parallel lodes.
Highlights included 4m @ 3.3g/t Au from 112m; 3m @ 3.4g/t Au from 150m; and 1m @ 11.4g/t Au from 179m. The company said that these new zones are highly encouraging and required follow-up drill testing.
MGV reported that regional drill testing of Starlight analogue targets within the belt is continuing with the first results expected in October.
Cue project
Cue Project is located in the Murchison district of Western Australia. The project consists of the Moyagee Gold and Hollandaire Copper areas in the highly prospective Murchison province of Western Australia.
The Cue Gold Project hosts total resources of 6.45Mt @ 3.0g/t Au for 613koz including the Break of Day deposit (868Kt @ 7.2g/t Au for 199koz contained gold) and the Lena deposit (4,3Mt @ 2.3g/t Au for 325koz contained gold) located 130m to the west.
Musgrave had executed an $18 million Earn-in and Exploration Joint Venture with Evolution Mining Ltd over the Lake Austin portion of the Cue Project, called the Evolution JV.
Important areas of Cue project include Break of Day prospect, Lena gold resources, Mainland, and the Lake Austin North gold discovery. The Starlight and White Light gold lodes are located at Break of Day.
The Break of Day, Starlight, and Lena prospects are located on granted mining lease M21/106 and the primary tenement holder is Musgrave Minerals Ltd.
Drilling at Break of Day
The company had commenced a reverse circulation (RC) and diamond drilling program at the new Starlight and White Light gold discoveries at Break of Day.
MGV said that to date, a total of 66 RC holes and 17 diamond drill holes have been completed at Starlight and White Light.
The company said that preliminary assay results have now been received for all holes.
Strong results reported
MGV has announced strong assay results for the remaining reverse circulation and diamond drill holes from the current program at the new Starlight and White Light gold discoveries at Break of Day.
White Light lode
Significant new intercepts on the White Light lode include: 2m @ 17.7g/t Au from 198m (20MORC103); 2m @ 11.8g/t Au from 227m (20MORC095); 16m @ 1.4g/t Au from 307.8m (20MODD017) including 0.5m @ 16.9g/t Au from 315.3m; and 0.5m @ 60.1g/t Au from 308.5m (20MODD019).
Starlight lode
The company reported that the drilling at Starlight has returned significant intercepts of 2m @ 13.7g/t Au from 178m (20MORC104); 12m @ 4.2g/t Au from 5m (20MORC100) extending the oxide mineralisation 10m to the west; and 3m @ 6.0g/t Au from 63m (20MORC086) extending the fresh mineralisation 10m to the west.
Mineralisation extended
The company reported that all intercepts are outside the existing Break of Day resource estimate and both new Starlight and White Light lodes have a strike extent of over 100m and are open down plunge. MGV said that White Light remains open down plunge.
Potential parallel gold lodes
The company announced that, to the south of the White Light lode, the southern-most drill hole intersected gold mineralisation that does not align with any historical intercepts or known occurrences. MGV said that this may represent the possibility of new parallel gold lodes south of the discovery.
These new intercepts included 4m @ 3.3g/t Au from 112m (20MORC105) and 3m @ 3.4g/t Au from 150m (20MORC105) approximately 90-100m south of the White Light lode; and 1m @ 11.4g/t Au from 179m (20MORC105) approximately 70m south of the White Light lode.
The company noted that there is currently no other drilling intersecting these potential new lode positions up dip or along strike. MGV said that a follow-up drilling on these potential new lodes is currently being planned.
Regional AC/RC drilling
Musgrave announced that the regional 12,000m aircore/RC drill program to test for Starlight analogues in the belt is progressing well.
The company said that the program is testing targets derived from geophysical, geochemical, and geological data and focused on the potential for high-grade gold mineralisation on structures cross-cutting stratigraphy similar to that seen at Starlight.
The company said that to date, an estimated 11,000m of drilling over 12 of a planned 18 targets has been completed with first assays expected in October.
Latest updates
The company said that the current phase of RC and diamond drilling on the Starlight and White Light lodes at Break of Day is now complete. MGV said that further drilling is currently being planned.
Musgrave said that further drilling to test the new lodes to the south of White Light is currently being planned. MGV said that the Break of Day resource update including the Starlight and White Light lodes is scheduled for late October 2020.
The company announced that the metallurgical test work is underway at Starlight with results expected in October.
Musgrave also reported the latest updates related to the ongoing exploration at Evolution JV. The company said that the Phase 2 aircore drilling program testing high-priority gold targets on Lake Austin is continuing with approximately 11,000m completed of a planned 21,900m program.
MGV said that a passive seismic survey to better estimate cover depths over prospective undrilled areas of Lake Austin has identified a number of areas with shallower cover and potential new targets for drill testing.
What’s next?
The company said that a range of exploration techniques will be considered to progress exploration including additional surface sampling and drilling.
Management statements
Musgrave Managing Director Rob Waugh said: “These are further excellent drill results from the White Light lode which is continuing to grow. Importantly, the potential for further untested gold lodes has been identified in this recent drilling with new zones intersected to the south and parallel to the White Light lode.
It is early days but these new zones have the potential to add further resource ounces at Break of Day. Additional drilling is currently being planned to test these positions.
The regional step out aircore/RC drill program is also progressing well with the focus on making additional high-grade gold discoveries in the belt. All of these targets provide significant upside potential.”