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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | A-Zone, Lake Austin North | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Zinc-Copper | |
| Date: | 5/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-5-2019: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its A-Zone, Lake Austin North deposit at the Cue project. Drilling results incl. 50.0m @ 1.1g/t Au from 114m. Musgrave Minerals Ltd (ASX: MGV) (“Musgrave” or “the Compan | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Waugh (Internal) | |
| ABSTRACT: | Musgrave Minerals Ltd (ASX: MGV) (“Musgrave” or “the Company”) is pleased to report further assay results (Table 1a) from the current regional scout aircore drilling program at the Company’s flagship Cue Project in Western Australia’s Murchison district (Figure 1). The results have added weight to Musgrave’s belief that a large mineralised gold system lies hidden under the lake as the drilling has generated multiple high-priority basement gold targets for drill testing. Musgrave Managing Director Rob Waugh said “These aircore results continue to show the large size of the gold system at Lake Austin North and support the Company’s view on the prospectivity of this new undercover gold system. The A-Zone gold anomaly now extends for over 3km in strike with additional new targets totalling approximately 8km of combined basement strike in the Lake Austin North area. Only ~500m of this strike has seen any basement drilling which equates to approximately 6% of the target area. The upside is huge. These results reinforce the significant potential to grow the gold resource base on the Cue project.” Aiding with the ongoing assessment of Lake Austin North, Musgrave’s application for a grant under the Western Australian Government’s 2019-20 Exploration Incentive Scheme (EIS) was successful and the Company is to receive $150,000 towards diamond drilling as part of the EIS’s Co-funded Drilling Program. | |
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