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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-6-2017: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Break of Day deposit at the Cue project. JV with Silver Lake Resources - drilling results incl. 1m @ 57.7g/t Au from 294m. Musgrave Minerals Ltd (“Musgrave” or “the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Waugh (Internal) | |
| ABSTRACT: | Musgrave Minerals Ltd (“Musgrave” or “the Company”) (ASX: MGV) is pleased to report further high grade gold results from the recently completed reverse circulation (“RC”) drilling program at the Break of Day gold prospect on the Cue Project in the Murchison region of Western Australia (Figure 1 and 3). The Cue Project is a joint venture with Silver Lake Resources Ltd (ASX: SLR) where Musgrave holds a 60% interest and has elected to increase its interest to 80%. Musgrave Managing Director Rob Waugh commented, “This is a really positive result and leaves the mineralisation at Break of Day on both lodes still open to the south. We are consistently seeing higher grade gold mineralisation at Break of Day below the 80-100m depth level where it is wide open with no current drilling in this area. This creates a significant opportunity for the Company to grow the resource with further drilling.” Phase two of the drill program at Break of Day and Lena was completed in late May with 35 new drill holes and three hole extensions completed for a total of 6,644m. The high grade gold results continue to encourage the Musgrave team and will support the new resource estimate scheduled to be completed in July 2017. To date assays have been received for 28 drill holes with further gold assay results from the last seven holes in the program at Lena expected within a week. Drill testing of 13 new high priority base metal targets on the northern Hollandaire area at Cue is ongoing with nine drill holes completed to date. Results to date have been encouraging with assay results expected in early July. | |
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