| Announcement Date: | 2022-08-30 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Musgrave Minerals Ltd. |
| Project name: | Cue |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 4m @ 20.9g/t Au from 19m |
| 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 strong assay results from reverse circulation (“RC”) drilling at the Big Sky deposit south-west of Lena and Break of Day, on its 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district (Figure 1). The results are from a combination of infill and extensional drilling and highlight the high-grade and variable grade within the near-surface mineralisation along the Big Sky deposit. This drilling is the first phase of a larger program aimed at infilling and upgrading key sections of the Big Sky deposit for future resource updates and conversion from Inferred to Indicated Resource categorisation. Infill and extensional RC drilling at Big Sky, 2km south-west of Lena-Break of Day (Figure 1) on MGV’s 100% ground continues to intersect significant gold mineralisation below thin transported hardpan cover (~1-6m thick). The Cue Project hosts a total Mineral Resource Estimate of 12.3kt @ 2.3g/t Au for 927koz contained gold with 47% of this in the higher confidence Indicated Resource category. The Big Sky deposit is a subset of this resource and hosts 4.65Mt @ 1.2g/t Au for 173koz contained gold. The Big Sky deposit is currently modelled to a maximum depth of 150m and remains open (see MGV ASX announcement dated 31 May 2022, “Cue Mineral Resource Increases to 927,000oz). This recent drilling (55 holes for 4,981m) confirms and enhances the near-surface gold endowment along the Big Sky trend with a significant number of infill holes recording assay values above the resource grade and significant mineralisation identified |
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