Musgrave Minerals Ltd (ASX:MGV) has fast-tracked follow-up drilling of a new high-grade, shallow find at its 100%-owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district.
Managing Director, Rob Waugh, said the high-grade intercept at Target 18 was amongst assay results for a further 97 aircore drill holes from the current regional exploration programme at Cue.
This is another excellent set of results from our regional drilling programme,” Waugh said.
“Wherever we look, we are finding gold, which continues to highlight the upside gold potential of the belt and supports the new geological interpretation.
“The Target 17 hit is another strong result in close proximity to Break of Day with follow-up drilling underway. Further regional drilling assays are expected later this month.”
The current drill programme is testing new Starlight analogue targets along trends from the high-grade Starlight gold discovery at Break of Day, with multiple targets returning strong results. A single aircore drill traverse across Target 17intersected near-surface, high-grade gold including 6m @ 11.5g/t Aufrom 18m down hole within a broader interval of 24m @ 3.4g/t Aufrom 18m.
Follow-up drilling is underway to better define the strike of this new high-grade mineralisation.
Twenty-five targets have now been tested by a single traverse of aircore drill holes in most cases with follow- up drilling completed over some of these targets. Initial assay results have now been received for 24 targets with 20 showing anomalous gold results. Follow-up infill drilling is ongoing on the higher priority targets, including targets 2, 5, 9 14, 15, 17 and 20 after encouraging early results.
One metre individual samples from the White Heat Prospect (Target 2) have confirmed the strong near-surface regolith gold results intersected on traverses either side of the initial intersections (5m @ 14.4g/t Au and 8m @ 8.4g/t Au)
One metre individual samples returned:
- 1m @ 12.0g/t Aufrom 28m – 40m west of the initial gold intersections
- 2m @ 30.3g/t Aufrom 41m – also 40m west of the initial gold intersections and include:
- 1m @ 59.5g/t Au from 41m
- 5m @ 8.3g/t Aufrom 23m – 30m east of the initial gold intersections and include:
- 1m @ 33.5g/t Aufrom 24m
Mr Waugh said the programme has been very effective in testing targets derived from geophysical, geochemical and geological data and is focused on the potential for near-surface, high-grade gold mineralisation on structures cross-cutting stratigraphy like that seen at Starlight and potential new structural gold corridors parallel to the Lena/Break of Day corridor.
The current resource estimate for the Cue Gold Project totals 6.4Mt @ 3.2g/t Au for 659koz including the Break of Day deposit (797Kt @ 10.2g/t Au for 262koz contained gold) and the Lena deposit (4.3Mt @ 2.3g/t Au for 325koz contained gold) located 130m to the west of Break of Day.