Musgrave Minerals (ASX:MGV) reports further ‘high-grade’ gold results from reverse circulation (RC) and diamond drilling at the White Heat-Mosaic deposit within the Cue Gold Project in Western Australia.
The company says these results from drilling along the Break of Day Trend are from a combination of infill and extensional drilling and ‘highlight’ the ‘high-grade’ nature of the near surface mineralisation, with these results expected to become a key component of future project development at Cue.
The Cue Gold Project is located around 30km south of Cue in Western Australia, and Musgrave is working towards the delivery of a stage one Prefeasibility Study (PFS) in Q1 2023 with focus on the technical and financial viability of the early years of the Cue Gold Project. The study will focus on the project’s current indicated mineral resource while exploration and resource conversion drilling will continue aiming to extend the mine life beyond stage one.
Musgrave Managing Director Rob Waugh said these are another strong set of results and confirm the exceptional high-grades in the near surface gold mineralisation at White Heat-Mosaic.
“The deposits, including White Heat-Mosaic along the high-grade Break of Day trend, will be a cornerstone of future development of the Cue Gold Project.”
“The deposits, including White Heat-Mosaic along the high-grade Break of Day trend, will be a cornerstone of future development of the Cue Gold Project”
According to Musgrave, the Break of Day Trend has a total Mineral Resource Estimate (MRE) of 982,000 tonnes @ 10.4g/t Au for 327,000oz of gold with 70% of this inner ‘high confidence’ Indicated resource category.
A subset of this inventory (185,000 tonnes @ 11g/t Au for 65,000oz gold) defines the White Heat-Mosaic deposit only 300m south of Break of Day (797,000 tonnes @ 10.2g/t Au for 262,000oz gold) is currently modelled to a maximum depth of 160m.
The company reports this recent drilling confirms the near surface ‘high-grade’ endowment along this trend characterised by quartz lodes within a ‘high’ tantalum basalt stratigraphic unit and the drilling was aimed at better defining the mineralised limbs and ‘high-grade’ plunge orientations at the White Heat-Mosaic deposit,
New RC drill intersections outside the current mineral resource boundary include 4m @ 7.6g/t Au from 2m in 22MORC253.
RC infill intersections confirming grade and continuity includes 5m @ 80.2g/t Au from 12m including 2m @ 194.5g/t Au from 12m in 22MORC251; 8m @ 19.8g/t Au from 37m including 3m @ 49.7g/t Au from 38m in 22MORC242; and 5m @ 43.9g/t Au from 89m including 1m @ 176g/t Au from 89m in 22MORC248.
Musgrave says the mineralisation remains open down plunge but appears to be ‘weakening’ at depth, and further extensional drilling to confirm shoot and plunge geometries is currently being planned.
Minor splay lodes are also evident from drilling but are expected by the company to have limited strike extent, and the results for diamond hole 22MODD030 into the Mosaic lode were received where low grade mineralisation was intersected in the quartz vein at the projected depth but outside the ‘high-grade’ plunge zone.
Musgrave Minerals is an Australian gold explorer and developer with projects include the Cue Gold Project and the Mt Magnet South Gold Project in Western Australia.
The current MRE for the Cue Gold Project totals 12.3Mt @ 2.3g/t Au for 927,000oz
including the Break of Day High-Grade Trend and the Moyagee Western Trend (9.8Mt @ 1.7g/t Au for 541,000oz contained gold) both in the southern area of the project.
The company also holds a number of tenement applications in the South Australian Musgrave Province.
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