Musgrave Minerals Ltd (ASX: MGV) announced that aircore drilling within the new gold corridor at Target 14 at its flagship Cue Gold Project in Western Australia continued to return strong gold results.
Significant new results included 12m @ 8.7g/t Au from 66m to EOH (21MUAC103) and terminated in high-grade gold mineralisation at the fresh rock interface; 24m @ 3.0g/t Au from 40m (21MORC019), including 9m @ 6.1g/t Au from 40m; and 78m @ 0.42g/t Au from 12m (21MUAC095).
The company said that the high-grade portion of Target 14 has been identified over an area of approximately 200m with anomalous gold extending for more than 3km.
MGV reported that the assay results for more than 110 aircore drill holes are pending from the ~2.5km zone between Target 14 and Big Sky located to the south.
Musgrave said that RC basement drilling to follow-up the regolith gold mineralisation identified at Target 14 is currently being planned, and will initiate at the completion of drilling at Big Sky which was commenced this week.
Aircore drilling at Target 14
Musgrave had recently commenced regional aircore drilling at Target 14 within the new gold corridor west of Lena on its 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district.
Target 14 is 2.5km north of the Big Sky prospect and remains open along strike and down dip. The company said that the aircore drilling continued to define strong high-grade regolith mineralisation at Target 14 along with broad lower grade mineralisation suggesting a significant basement source.
MGV said that the gold mineralisation at Target 14 occurs under a thin layer of transported cover, extends for more than 3km of strike, and remains open.
High-grade drill results
MGV said that aircore drilling within the new gold corridor at Target 14, 900m west of Lena continued to return strong gold results.
AC drill results
Standout AC drill results from 6m composite samples at Target 14 included 12m @ 8.7g/t Au from 66m to EOH (21MUAC103) which terminated in high-grade gold mineralisation; 24m @ 1.3g/t Au from 60m (21MUAC115); 6m @ 2.9g/t Au from 24m (21MUAC098); 30m @ 0.75g/t Au from 24m (21MUAC104); and 78m @ 0.42g/t Au from 12m (21MUAC095).
The company said that the assay results for more than 110 aircore drill holes are awaited with results expected in the next three weeks.
RC drill results
Musgrave said that the individual one-metre resamples of 6m composite samples from two reverse circulation (RC) drill holes at Target 14 drilled in January 2021 confirmed significant gold results including 24m @ 3.0g/t Au from 40m (21MORC019), including 9m @ 6.1g/t Au from 40m; and 2m @ 2.9g/t Au from 88m (21MORC017).
The company noted that this RC drilling intersected regolith mineralisation and has not effectively tested the fresh basement target below the high-grade regolith gold mineralisation.
Musgrave reported that RC drilling is planned to commence in the coming weeks to confirm the extent of the thick, near surface regolith mineralisation and test areas for basement mineralisation below. The company said that the RC drilling will also test for multiple potential lode orientations, similar to what has been observed at the Break of Day deposit to the east. If successful, the RC drilling program will be followed by resource delineation drilling.
Latest updates and next steps
Musgrave announced that at it’s 100% tenements, assay results for >110 regional aircore drill holes are expected within the next three weeks. The company said that further RC drilling at the White Heat and Numbers prospects is underway. Assays results are expected mid-late May.
MGV reported that the follow-up RC drilling to define the basement source of gold anomalism at the new Big Sky prospect to the south of Target 14 has commenced. First assays results are expected in late May.
The company said that the follow-up RC drilling to define the basement source of gold anomalism at Target 14 is scheduled to commence in approximately three weeks. MGV reported that works to progress the prefeasibility study at Break of Day and Lena are continuing.
Musgrave said that at its Evolution JV, diamond drilling to follow-up the extensive regolith gold anomalies identified in the regional aircore drilling program on Lake Austin is continuing.
Musgrave Managing Director Rob Waugh said: “The aircore drilling is continuing to define near surface high-grade mineralisation and provide fantastic targets for basement follow-up along the new gold corridor west of Lena.
With drill hole 21MUAC103 terminating in high-grade mineralisation we are confident of being close to the primary basement source for this regolith gold mineralisation. Follow-up RC drilling will commence in a few weeks after the first phase of basement drilling at Big Sky is completed, testing similar high-grade and extensive gold targets 2.5km south of Target 14.”
Image Source: Musgrave Minerals Ltd