Announcement Date: 2022-11-07
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Musgrave Minerals Ltd.
Project name: Cue
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 5m at 80.2g/t Au from 12m
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 2 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. The White HeatMosaic deposit with its near-surface, high-grades is expected to be a key component of future project development at Cue. The results continue to 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 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 gold) defines the White Heat-Mosaic deposit. The deposit, only 300m south of Break of Day (797kt @ 10.2g/t Au for 262koz gold) is currently modelled to a maximum depth of 160m.
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