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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Lake Austin North | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Zinc-Copper | |
| Date: | 8/31/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-8-2018: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Lake Austin North deposit at the Cue project. Drilling results incl. 42m @ 3.2g/t Au from 108.0m. Musgrave Minerals Ltd (ASX: MGV) (“Musgrave” or “the Company”) is p | |
| 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 the first two reverse circulation (RC) basement drill holes into the A Zone target at the Lake Austin North prospect located 3km north of the Break of Day gold deposit on the Company’s flagship Cue Project in Western Australia’s Murchison district (Figure 1). Drill hole 18MORC039 intersected an impressive 42m @ 3.2g/t Au from 108m down hole including 24m @ 5.1g/t Au from 114m and including a higher grade core of 6m @ 12.6g/t Au from 126m. The initial sampling was undertaken using 6m composites. The above intersections are within a broad gold halo of lower-grade gold mineralisation of 84m @ 1.7g/t Au from 84m depth. In addition it is noted that the drill hole terminated in low grade gold mineralisation (12m @ 0.15g/t Au) and additional follow-up drilling is required. Drill holes 18MORC039 and 18MORC040 are the first holes into the fresh basement below the A Zone target, which is open to the north, south and down dip (Figures 2 and 3). Musgrave Managing Director Rob Waugh said “This is a wonderful result that demonstrates the potential for the A Zone target to host thick, high-grade gold mineralisation. The extent of the basement gold mineralisation is not yet defined and is completely open along strike and down dip. The result supports Musgrave’s view that Lake Austin North has the potential to be a large, wellmineralised gold system and potentially a new gold discovery for the Company. The aircore regolith gold halo at Lake Austin North is extensive and we are looking forward to drilling more holes and receiving further assays in coming weeks.” | |
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