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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/3/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-9-2019: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Break of Day deposit at the Cue project. Drilling results incl. 2.0m @ 9.0g/t Au from 71m. Musgrave Minerals Ltd (ASX: MGV) (“Musgrave” or “the Company”) is pleased t | |
| 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 a highly encouraging assay result from extensional drilling at the Break of Day deposit, part of the Company’s flagship Cue Gold Project in Western Australia’s Murchison district (Figure 1). Assays from a single reverse circulation (RC) drill hole to test a target from a revised structural model, intersected 2m @ 9.0g/t Au from 71m down hole (19MORC015) in a potential southern extension to the Break of Day deposit. The intercept is approximately 75m south of the current resource boundary and remains open to the south and down plunge (Figures 2 and 3). The results are presented in Table 1a. The Break of Day deposit has a JORC 2012 Resource of 868Kt @ 7.15g/t Au for 199Koz Au (see MGV ASX release 15 October 2018, “Annual Report”). The Break of Day deposit consists of a number of high-grade gold lodes, with significant potential at depth and along strike to grow the existing resource. The upside potential is demonstrated by this new shallow highgrade intercept 2m @ 9.0g/t Au and the near surface high-grade intercept intersected in hole 19MORC012 (1m @ 8.0g/t Au from 26m down hole) collared 110m north of Break of Day (see MGV ASX release dated 20 August 2019, “High-Grade Gold Intersected at Lena and Mainland, Cue Project”). With the results of drill hole 19MORC012 and this latest intercept, gold has now been intercepted at Break of Day over a north-south extent of 475m. Follow-up drilling to test the vertical extent of this latest high grade intercept is currently being planned. | |
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