Musgrave Minerals (ASX:MGV) reports further strong assay results from reverse circulation (RC) drilling at the Big Sky deposit south-west of Lena and Break of Day, within its 100% owned flagship Cue Gold Project.
The results are from a combination of infill and extensional drilling and highlight the ‘high-grade’ and variable grade within the near-surface mineralisation along the Big Sky deposit, located in Western Australia’s Murchison district.
This drilling is the first phase of a larger program aimed at infilling and upgrading key sections of the Big Sky deposit for future resource updates and conversion from Inferred to Indicated Resource categorisation.
Infill and extensional RC drilling at Big Sky, 2km south-west of Lena-Break of Day on Musgrave’s 100% ground continues to intersect significant gold mineralisation below thin transported hardpan cover (~1-6m thick).
Extensional drilling has intersected new zones of mineralisation outside the current Mineral Resource boundary including:
- 4m @ 20.9g/t Au from 19m (22MORC159)
- 3m @ 10.1g/t Au from 95m (22MORC168)
- 1m @ 17.7g/t Au from 37m (22MORC169)
Works to progress the prefeasibility level studies including the new Big Sky and White Heat-Mosaic resources is continuing.
Commenting on the drill program, Musgrave Managing Director Rob Waugh said: “The latest assay results from infill and extensional resource drilling at Big Sky confirm the potential of the system to host higher grade zones and improves the confidence in the geological continuity of the deposit.
“A significant number of these new drillholes host mineralised intervals well above the current resource grade of the deposit”
A significant number of these new drillholes host mineralised intervals well above the current resource grade of the deposit. This is the first phase of a larger program at Big Sky with further drilling due to commence following completion of the current program at White Heat-Mosaic.
This drilling will continue to focus on the top 120m of the Big Sky deposit with the aim to convert a significant portion of the near-surface mineralisation to the greater confidence Indicated Resource category.”
The Cue Project hosts a total Mineral Resource Estimate of 123,000t @ 2.3g/t Au for 927,000oz 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 173,000oz contained gold. The deposit is currently modelled to a maximum depth of 150m and remains open.
Musgrave reports that this this recent drilling (55 holes for 4,981m) confirms and enhances the near surface gold endowment along the Big Sky trend with a significant number of infill holes recording assay values above the resource grade and significant mineralisation identified outside the current Mineral Resource boundary (this drilling is not yet incorporated into the resource estimate).
The current drilling was undertaken at Big Sky to infill and extend the gold mineralisation and convert Inferred resources into the higher confidence Indicated category to de-risk the open cut potential of the deposit.
Musgrave notes that development works are progressing well and an environmental analysis is underway with the recent completion of a Project Approvals GAP analysis providing focus on required test works and surveys for the remainder of the year.
Time critical baseline surveys are being planned for the coming months for the new deposit areas of Big Sky and White Heat-Mosaic.
Images: Musgrave Minerals Ltd
