Announcement Date: 2022-05-31
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Musgrave Minerals Ltd.
Project name: Cue
Location: Australia
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Musgrave Minerals Ltd (ASX: MGV) (“Musgrave” or “the Company”) is pleased to report a significant Mineral Resource estimate update on its 100% owned tenure at the Company’s flagship Cue Gold Project in Western Australia’s Murchison district (Figure 1). The total Cue Project Mineral Resource Estimate has now grown to 12.3Mt @ 2.3g/t Au for 927,000 ounces of contained gold (Table 1) with the high-grade Mineral Resources hosted in the Break of Day trend totalling 982kt @ 10.4g/t Au for 327,000 ounces of contained gold (Table 1). This near-surface high-grade component of our total resource base is expected to be a significant driver of future value and the Company’s exploration efforts will continue to focus on identifying and testing near-surface, high-grade gold targets to further grow the resource base. Mineral Resource estimates were also updated for a number of satellite deposits including Numbers, Leviticus, Rapier South, Jasper Queen and Gilt Edge to comply with JORC 2012 reporting standards. There were no significant material changes to the total ounces in these resource estimates however they can now be reported as complying with JORC 2012 reporting. A small oxide gold resource was added at Hollandaire which sits as a gold cap to the Hollandaire copper-gold deposit.
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