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Musgrave Minerals Ltd.

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Summary

Project:

Cue

Deposit:Lake Austin North
Location:Australia
Commodities:Gold-Silver-Zinc-Copper
Date:10/29/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:29-10-2018: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Lake Austin North deposit at the Cue project. Drilling results incl. 94m @ 2.4g/t Au from 156m. 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 and C Zones 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 “Drill hole 18MORC057 has returned another thick high-grade result and delivered our best intercept to date at A Zone. It is the most southerly hole drilled to date testing the basement on A Zone and the results indicate the system is open to the south as well as to the north and at depth. Lake Austin North is proving to be a large, well mineralised system and the current diamond drilling program will aim to further outline the size and grade of this new and exciting gold discovery.” Initial sampling of RC drilling at Cue is undertaken using 6m composites. One metre individual samples are submitted for follow-up analysis in zones of gold anomalism detected from composite sampling. All new assay results are shown in Table 1a. One metre re-samples of 6m composites have upgraded some previously reported intercepts. Drill hole 18MORC052 returned 24m @ 1.8g/t Au from 120m down hole (comparative 6m composites, 24m @ 1.17g/t Au), including 7m @ 5.2g/t Au from 133m (comparative 6m composites, 6m @ 3.4g/t Au), including a higher grade core of 2m @ 15.8g/t Au from 133m. This intersection is 100m north of discovery hole 18MORC039 (Figure 2).

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