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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Break of Day, Lena | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-6-2017: 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. 13m @ 9.7g/t Au from 61m. 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 recently completed 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 and 3). 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, “Drilling at Lena and Break of Day continues to return strong high grade gold results. The near surface high grade intersections at Lena highlight the open-cut potential of the deposit. The high grade intersection in 17MORC079 is open to the north and at depth demonstrating an opportunity to continue to grow the Lena resource with further drilling.” Phase two of the drill program at Break of Day and Lena was completed in late May with 35 new drill holes and three hole extensions completed for a total of 6,644m. The strong gold results continue to encourage the Musgrave team and will support the new resource estimate scheduled to be completed in July 2017. To date assays have been received for 25 drill holes with further gold assay results expected within two weeks. Drill testing of 12 new high priority base metal targets on the northern Hollandaire area at Cue is ongoing with six drill holes completed to date. Results to date have been encouraging with assay results expected in late June. | |
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