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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day, Lena | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-4-2017: 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. 11m @ 8.8g/t Au from 114m. 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 announce the receipt of assay results for a further nine drill holes from the current 4,000m 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 (ASX: SLR) where Musgrave holds a 60% interest and has elected to increase its interest to 80%. Musgrave Managing Director Rob Waugh said, “The gold results at Break of Day continues to impress with a further extension to the south. The mineralisation is still open and we hope to continue to grow the resource with further drilling.” “The positive shallow gold results at Lena will enhance the oxide component of the resource. We continue to be encouraged by the gold results and together with the recently released metallurgical test work we are confident the project has a successful future.” The first stage of the current RC drilling program has now been completed with 44 holes drilled for 4,006m. Stage 2 of the drill program includes an additional 6,000m and will commence in early April. The objective of the drilling is to extend and infill the high grade gold mineralisation at both the Break of Day and Lena prospects to complete a new resource estimate by June 2017 that will underpin studies to demonstrate a viable near term path to development. | |
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