Announcement Date: 2022-11-21
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 13.2g/t Au from 53m
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 near-surface nature of the gold mineralisation along the Big Sky deposit. These are the final assay results from the current phase of a drilling program aimed at infilling and upgrading key sections of the Big Sky deposit. The focus is on conversion from Inferred to Indicated Resource categorisation to align with future resource updates Further 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 and is currently only modelled to a maximum depth of 150m where it remains open (see MGV ASX announcement dated 31 May 2022, “Cue Mineral Resource Increases to 927,000oz”).
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