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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Lena | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-6-2017: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Lena deposit at the Cue project. JV with Silver Lake Resources - drilling results incl. 4m @ 8g/t Au from 35m. Musgrave Minerals Ltd (“Musgrave” or “the Company”) (A | |
| 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 Lena gold prospect on the Cue Project in the Murchison region of Western Australia (Figure 1 and 4). 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%. Phase two of the drill program at Break of Day and Lena was completed in late May with 35 drill holes and three hole extensions completed for a total of 6,644m. All drill hole assay results have now been received for the Break of Day and Lena RC drill program with all seven of the drill holes reported here returning significant gold intercepts (Table 1). Musgrave Managing Director Rob Waugh commented, “These further strong near surface gold results from Lena continue to support the likelihood of an open cut mine. These results are the final gold results for the recently completed RC gold drilling program and will be included in the resource estimate currently on track for mid-July 2017”. Drill testing of 13 high priority base metal and gold targets on the northern Hollandaire area at Cue is now complete. Results have been encouraging with assay results from the first targets expected in early July. | |
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