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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/2/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-8-2016: 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. 2m @ 36.8g/t Au from 101m. Musgrave Minerals Ltd (“Musgrave” or “the C | |
| 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 advise that high grade gold has been intersected in follow-up reverse circulation (“RC”) drilling at the Break of Day prospect on the Cue Project in the Murchison region of Western Australia (Figure 3). Assay results have been received for the first two drill holes in the program (16MORC006 and 16MORC007) and returned 2m @ 10.8g/t gold from 66m to 68m down hole (hanging-wall vein) and 2m @ 36.8g/t gold from 101m to 103m down hole (footwall vein) in 16MORC006 (Figure 1) and 1m @ 33.5g/t gold from 80m down hole (hanging-wall vein) in 16MORC007 (Table 1). Drill hole 16MORC006 was drilled to test the up-dip projection of the footwall vein and 16MORC007 was drilled 25m to the south (Figure 2). The two holes intersected both the footwall and hanging-wall veins, successfully demonstrating the continuity of the mineralisation which remains open at depth and along strike. Drilling is continuing. RC drilling is underway at Break of Day as part of a broader RC drill program on the Cue Project. Nine drill holes have been completed at Break of Day to date as part of the current program and assay results have been received for the first two holes showing encouraging gold grades. The gold mineralisation is currently open along strike (Figure 1) and down dip (Figure 2. Break of Day is on a granted mining lease. The mineralisation at Break of Day is interpreted to be steep to moderately dipping twin parallel quartz veins hosting high grade gold mineralisation with minor (1-2%) pyrite, within a basaltic stratigraphic sequence. | |
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