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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day, Lena | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-5-2017: 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 @ 28.5g/t Au from 99m. 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 current reverse circulation (“RC”) drilling program at the Break of Day and Lena gold prospects 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%. Phase two of the drill program at Break of Day and Lena is now complete with 35 new drill holes and three hole extensions completed for a total of 6,644m. The gold results continue to be very positive and will support the new resource estimate. The inclusion of the strong gold results from extensional drilling will extend the timeframe needed for the upcoming resource estimate at Break of Day and Lena into July. To date assays have been received for 20 drill holes with further gold assay results expected within two weeks. The drill rig has now commenced drill testing of twelve new high priority base metal targets on the Hollandaire Project area at Cue. These new targets are all strong ground electromagnetic responses within the Hollandaire volcanic massive sulphide (VMS) field. They all have combinations of strong geological, soil geochemical or rock chip sampling to support the potential for massive base metal sulphides. | |
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