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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Zinc-Copper | |
| Date: | 9/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2017: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Break of Day deposit at the Cue project. Drilling results incl. 11m @ 54.0g/t Au from 217m. Musgrave Minerals Ltd (“Musgrave” or “the Company”) (ASX: MGV) is pleased | |
| 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 the best intersection to date at the Break of Day deposit in the first assay results received from the current extensional reverse circulation (“RC”) drilling program. The Break of Day gold deposit is on the Cue Project in the Murchison region of Western Australia (Figure 1 and 3). Musgrave recently exercised its pre-emptive right to acquire 100% of the key tenure on the Project including the Break of Day and Lena gold deposits. Break of Day hosts a combined (Indicated and Inferred) Mineral Resource of 868kt @ 7.15g/t Au for 199koz Au (see ASX announcement 14 July 2017, “Resource Estimate Exceeds 350koz Gold”). Musgrave Managing Director Rob Waugh commented, “This is a wonderful result and creates a significant opportunity for the Company to grow the high-grade Break of Day gold resource. This drilling shows that the mineralisation at Break of Day extends to the south and is still open. We are yet to find the edges of the deposit and Break of Day deposit is proving to be a significant highgrade mineralised gold system.” The current RC drill program at Break of Day includes 14 new drill holes largely targeted to extend the mineralisation beyond the current resource boundaries. These new high-grade gold results continue to excite the Musgrave team and will support the growth of the current Mineral Resource. To date assays have been received for four drill holes at Break of Day (Table 1) with further gold assay results from the remaining holes expected over the next four weeks. | |
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