| Announcement Date: | 2022-08-02 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Musgrave Minerals Ltd. |
| Project name: | Cue |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 7m @ 149.7g/t Au from 143m |
| 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 further highgrade gold assay results from reverse circulation (“RC”) and diamond drilling along the Break of Day Trend at the White Heat-Mosaic deposit. The results are from a combination of infill and extensional drilling and highlight the very high-grade nature of the near-surface mineralisation along the Break of Day Trend. The results reflect the unique potential of Musgrave’s 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district (Figure 1). The Break of Day Trend has a total Mineral Resource Estimate of 982kt @ 10.4g/t Au for 327koz contained gold with 70% of this in the higher confidence Indicated resource category (see MGV ASX announcement dated 31 May 2022, “Cue Mineral Resource Increases to 927,000oz). A subset of this inventory (185kt @ 11.0g/t Au for 65koz contained gold) defines the White Heat-Mosaic deposit. The deposit, only 300m south of Break of Day (797kt @ 10.2g/t Au for 262koz contained gold) is currently modelled to a maximum depth of 160m. This recent drilling (not yet incorporated into the resource estimate) confirms the near surface and highgrade endowment along this trend |
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