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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-10-2016: 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. 5m @ 53.5g/t Au from 138m. 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 strong assay results from the current reverse circulation (“RC”) drilling program at Break of Day on the Cue Project in the Murchison region of Western Australia. Drill hole 16MORC043 intersected 5m @ 53.5g/t Au (uncut) from 138m down hole including 1m @ 183.1g/t Au (Figures 1 and 4) from 138m down hole in the projected position of the Twilight Lode. This is the highest individual gold assay yet received at Break of Day and extends the Twilight mineralisation a further 30m down dip. The mineralisation is open down plunge. A re-interpretation of the geology (Figure 2) suggests a vertical to steep westerly dip to the mineralisation and a possible third parallel gold lode. Drill hole 16MORC041 located 120m to the north of 16MORC043 intersected 3m @ 54.9g/t Au (uncut) from 187m down hole including 1m @ 142.8 g/t Au (Figures 1 and 3) from 188m down hole in the projected position of the Velvet Lode. The high grade in drill hole 16MORC041 is at a vertical depth of 162m and the mineralisation is open down plunge (Figure 3). A diamond drilling program is currently being planned that will commence later this quarter. Musgrave Managing Director Rob Waugh said, “This is another very good set of results from Break of Day. We have results expected for another 13 drill holes over the coming weeks and look forward to continuing to update the market as more results come to hand.” | |
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