Musgrave Minerals (ASX: MGV) has reported bonanza-grade, thick, and shallow gold hits from drilling at the new Starlight gold discovery within its flagship Cue gold project in WA.
The company announced that the assays for first holes from new RC drilling at Starlight reported impressive intercepts.
Highlights include 12m @ 112.9g/t Au from 36m including 6m @ 143.0g/t Au from 42m; 48m @ 4.4g/t Au from 30m including 4m @ 41.8g/t Au from 30m and 2m @ 13.5g/t Au from 76m; 7m @ 13.7g/t Au from 114m including 4m @ 22.9g/t Au from 116m; 6m @ 5.7g/t Au from 81m; and 6m @ 5.2g/t Au from 176m.
MGV said that the high-grade Starlight link-lode mineralisation is confirmed over a strike length of more than 115m and remains open at depth.
Musgrave reported that the intersections in all drill holes sit outside, but in close proximity to the current resource at Break of Day. The company said that the RC drilling is ongoing, while the diamond drilling is anticipated to commence at Starlight next week.
Musgrave’s flagship 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.
Important areas of Cue project include Break of Day prospect, Lena gold resources, Mainland, and the Lake Austin North gold discovery. The Lena deposit is located approximately 130m west of Break of Day.
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. Starlight is located in the Break of Day deposit.
Musgrave has 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.
Drilling at Cue project
The company had recently commenced an RC drilling program at the Cue project. MGV said that the RC drilling program at Break of Day, which is approximately 60% complete, consists of >36 holes for approximately 7,000m. The Starlight link-lode is located at the Break of Day deposit.
Musgrave said that the drilling is focused on infilling and extending the new high-grade lode where mineralisation has been intersected over a strike of more than 115m and remains open down dip.
Assay results received from 12 RC holes
The company announced that highly positive assay results have been received for the first twelve reverse circulation (RC) drill holes from the current program at the new Starlight gold discovery.
MGV reported that the Starlight mineralisation is currently interpreted to lie proximal to the existing Break of Day resource within an east-west mineralised zone. Significantly, all the intersections returned from Starlight sit outside the current resource at Break of Day.
The company said that the mineralisation consists of multiple quartz lodes dipping steeply to the south and has now been defined over a strike extent of 115m and remains open down plunge. The new drilling shows the mineralisation is very high grade where it approaches the surface.
MGV said that the combination of six metre composites and one metre individual samples have been analysed from the RC holes drilled in the current program at Starlight. The company said that the 6m composite samples above 0.1g/t Au will be re-submitted for individual 1m sample analysis.
Musgrave said that bonanza-grade intercepts were received from the RC holes.
Significant hits include 12m @ 112.9g/t Au from 36m (20MORC033) (6m composite samples) including 6m @ 143.0g/t Au from 42m; 48m @ 4.4g/t Au from 30m (20MORC032) (combination of 6m composite and 1m samples) including 4m @ 41.8g/t Au from 30m (1m samples) including 1m @ 104.4g/t Au from 31m and 2m @ 13.5g/t Au from 76m (1m samples); 7m @ 13.7g/t Au from 114m (20MORC025) (1m samples) including 4m @ 22.9g/t Au from 116m; 6m @ 5.7g/t Au from 81m (20MORC021) (1m samples); and 6m @ 5.2g/t Au from 176m (20MORC022) (1m samples).
Grant application approved
Musgrave reported that its application for a grant under the Western Australian Government’s 2020-21 Exploration Incentive Scheme (EIS) was successful and the Company is to receive $150,000 towards diamond drilling deep extensions to the mineralisation as part of the EIS’s Co-funded Drilling Program. This is expected to aid with the ongoing assessment of Starlight.
Musgrave has announced the latest updates on the ongoing exploration programs at Cue project.
The company said that the follow-up drilling on the new Starlight link-lode at Break of Day is underway. MGV said that the initial RC drilling is 60% complete with further assays expected within two weeks.
Musgrave reported that the diamond drilling program at Starlight is due to commence next week. The company said that a resource update for Break of Day including Starlight is scheduled for late Q3, 2020.
The company said that at the Evolution JV, the phase 1 regional aircore geochemical drilling program on Lake Austin is now complete. MGV said that the results will be reported on receipt of final assays.
Musgrave announced that a range of exploration techniques will be considered to progress exploration including additional surface sampling and drilling.
Musgrave Managing Director Rob Waugh said: “This is a great start to the program and confirms the current model extending the mineralisation both up dip where it approaches the surface and down dip where it remains open.
The bonanza high-grade, near surface mineralisation will enhance the open cut development potential of the deposit while the deeper mineralisation will enhance the underground potential.”