Musgrave Minerals Ltd (ASX: MGV) has reported more than 498.2g/t gold from the further seven RC drill holes at the new Starlight gold discovery within its flagship Cue Gold Project in WA.
The company announced that it has received further impressive assays from the new RC drilling at Starlight. Significant hits include 42m @ 77.3g/t Au from 30m including 18m @ 179.4g/t Au from 30m; 61m @ 12.7g/t Au from 76m including 6m @ 44.6g/t Au from 76m; and 22m @ 21.0g/t Au from 2m including 9m @ 49.2g/t Au from 8m.
MGV noted that the intersections in all drill holes sit outside, but in close proximity to the current resource at Break of Day, and mineralisation remains open down plunge and along strike (east and west) below 100m depth.
Musgrave reported that the RC drilling is ongoing and diamond drilling will commence at Starlight this week.
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.
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 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.
Drilling at Break of Day
The company had recently commenced an RC drilling program at Break of Day, which is nearly 80% complete, consisting of >36 holes for approximately 7,000m.
MGV said that assays have been received for 19 holes to date with further assays expected within two weeks.
Starlight mineralisation
The Starlight mineralisation lies proximal to the existing Break of Day resource within an east-west mineralised zone. Musgrave said that 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 with the potential to extend to the east and west. It also remains open down plunge. MGV said that the recent drilling indicates the mineralisation is very high grade near surface.
Musgrave said that a combination of six metre composites and one metre individual samples have been analysed from the RC holes drilled in the current program at Starlight.
Bonanza-grade intercepts from Starlight
Musgrave Minerals announced high-grade intercepts from Starlight.
Highlights include 42m @ 77.3g/t Au from 30m (20MORC037) including 18m @ 179.4g/t Au from 30m including 6m @ 498.2g/t Au from 36m; 61m @ 12.7g/t Au from 76m (20MORC031) including 6m @ 44.6g/t Au from 76m and 21m @ 23.6g/t Au from 106m; 22m @ 21.0g/t Au from 2m (20MORC036) including 9m @ 49.2g/t Au from 8m; 9m @ 16.5g/t Au from 225m (20MORC029) including 3m @ 47.6g/t Au from 225m; 4m @ 48.2g/t Au from 85m (20MORC038); and 2m @ 37.7g/t Au from 74m (20MORC028).
Latest updates
Musgrave said that follow-up drilling on the new Starlight link-lode at Break of Day is continuing. The initial RC drilling is now 80% complete with further assays expected within two weeks.
MGV said that a diamond drilling program at Starlight to test depth extensions to the Starlight mineralisation is due to commence this week and a resource update for Break of Day including Starlight is scheduled for late Q3, 2020.
Musgrave reported that the Phase 1 regional aircore geochemical drilling program on Lake Austin is now complete and has identified numerous priority gold targets that warrant follow-up drill testing. MGV said that the Phase 2 follow-up aircore drilling of high priority gold targets is scheduled to commence in late July 2020.
Next steps
MGV said that a range of exploration techniques will be considered to progress exploration including additional surface sampling and drilling.
Management comments
Musgrave Managing Director Rob Waugh said: “These are amazing gold grades to see in near surface drilling. Our deepest holes to date are still in high-grade mineralisation at 200 vertical metres where Starlight remains open down dip. The bonanza grades near surface will have a significant positive impact on future development at Break of Day.”
