Musgrave Minerals Ltd (ASX: MGV) has extend the mineralisation below 260 vertical metres at the White Light lode, with strong reverse circulation (RC) drilling intercepts at its Cue Gold Project in Western Australia.
The company has received positive assay results for the remaining RC and diamond drill holes from the current programme at the new Starlight and White Light gold discoveries at Break of Day.
Managing Director Rob Waugh saidWhite Light remains open down plunge and the southern-most drill hole has identified the possibility of new parallel gold lodes south of the discovery.
These are further excellent drill results from the White Light lode which is continuing to grow,” Mr Waugh said.
“Importantly, the potential for further untested gold lodes has been identified in this recent drilling with new zones intersected to the south and parallel to the White Light lode. It is early days but these new zones have the potential to add further resource ounces at Break of Day.
“Additional drilling is currently being planned to test these positions.
“The regional step out aircore/RC drill programme is also progressing well with the focus on making additional high-grade gold discoveries in the belt. All of these targets provide significant upside potential.”
The Starlight and White Light gold lodes at Break of Day are located on the company’s 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district.
All intercepts reported in this current drilling programme are outside the existing Break of Day resource estimate. The maiden resource for the Starlight and White Light lodes which will be incorporated into the resource update for Break of Day, is expected in late October 2020.
Significantly, all the intersections returned from Starlight and White Light sit outside the current resource estimate at Break of Day. Both lodes have a strike extent of over 100m and are open down plunge
The regional 12,000m aircore/RC drill programme to test for Starlight analogues in the belt is progressing well. To date an estimated 11,000m of drilling over 12 of a planned 18 targets has been completed with first assays expected in October.
The programme is testing targets derived from geophysical, geochemical and geological data and focused on the potential for high-grade gold mineralisation on structures cross-cutting stratigraphy similar to that seen at Starlight.
The current resource estimate for the Cue Gold Project totals 6.45Mt @ 3.0g/t Au for 613kozincluding 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