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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day, Lena | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-5-2017: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Break of Day, Lena deposit at the Cue project. JV with Silver Lake Resources - drilling results incl. 4m @ 22.4g/t Au from 126m. Musgrave Minerals Ltd (“Musgrave” or | |
| 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 next six drill holes from the Break of Day gold prospect in the recently commenced phase two reverse circulation (“RC”) drilling program on the Cue Project in the Murchison region of Western Australia (Figure 1). 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, “These results provide further support to the resource drilling and interpretation of the high grade gold lodes. We will continue to release results as they become available over the next few weeks.” Phase two of the drill program is underway with 28 (now 16 reported in total) RC holes completed out of a total 35 planned holes (6,000m). The phase two program includes both extensional and infill drilling at Break of Day and Lena with a focus on the high grade extensions at Break of Day. Further assay results are expected within two weeks. The objective of the drilling is to complete a new resource estimate in late June 2017 that will underpin studies to demonstrate a viable near term path to development. | |
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