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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Lake Austin North | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Zinc-Copper | |
| Date: | 10/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-10-2018: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Lake Austin North deposit at the Cue project. Drilling results incl. 30m @ 2.5g/t Au from 186m. Musgrave Minerals Ltd (ASX: MGV) (“Musgrave” or “the Company”) is pl | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Robert Waugh (Internal) | |
| ABSTRACT: | Musgrave Minerals Ltd (ASX: MGV) (“Musgrave” or “the Company”) is pleased to report assay results from further reverse circulation (RC) basement holes drilled into the A Zone at the Lake Austin North prospect, 3km north of the Break of Day gold deposit within the Company’s flagship Cue Project in Western Australia’s Murchison district (Figure 1). Musgrave Managing Director Rob Waugh said “These are another set of excellent results and support the new interpretation for the high-grade basement lode at A Zone. Diamond drilling is due to commence in approximately two weeks at Lake Austin North. Both A and C Zones are proving to have significant upside potential with high-grade shoots within broader mineralised zones, and we are yet to find the limits of the mineralisation.” A Zone Drill hole 18MORC051 drilled 50m south of discovery hole 18MORC039 (36m @ 3.6g/t Au, including 20m @ 6.1g/t Au) intersected the high-grade mineralised zone approximately 150m below surface and returned a thick gold interval of 30m @ 2.5g/t Au from 186m down hole to end of hole including 6m @ 8.0g/t Au from 204m (6m composites). The hole terminated in mineralisation at the depth capacity of the drill rig. This high grade zone is open both up-dip, down dip and along strike to north and south. The hole also intersected an upper gold halo of 66m @ 0.26g/t Au from 72m down hole (Figure 3). Drill hole 18MORC052 intersected a broad alteration zone within Archaean basement dipping steeply east 100m north of discovery hole 18MORC039 and returned 138m @ 0.4g/t Au from 102m down hole, including 6m @ 3.4g/t Au from 132m (6m composites). The gold mineralisation is below approximately 50m of transported cover. Assay results are shown in Table 1a. | |
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