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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Lena, Break of Day | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-4-2017: Musgrave Minerals Ltd. announces an Exploration/Drilling Update report for its Lena, Break of Day deposit at the Cue project. JV with Silver Lake Resources - drilling results incl. 14m @ 14.4g/t Au from 111m. Musgrave Minerals Ltd (“Musgrave” o | |
| Resources: | (Resource, Total): 1.273Mt @ 1.86g/t Au for 76000oz Au contained at Lena | |
| CP/QP: | [Overall Report]: Robert Waugh (Internal) | |
| ABSTRACT: | Musgrave Minerals Ltd (“Musgrave” or “the Company”) (ASX: MGV) is pleased to report further excellent high grade assay results from the final four drill holes from the Break of Day and Lena gold prospects in the recently completed phase one reverse circulation (“RC”) drilling program on the Cue Project in the Murchison region of Western Australia (Figure 1). The Cue Project is a joint venture with Silver Lake Resources (ASX: SLR) where Musgrave holds a 60% interest and has elected to increase its interest to 80%. Musgrave Managing Director Rob Waugh commented, “The excellent high grade gold results at Lena enhance the likelihood of defining a high grade shoot for potential underground development. The extended thick intersection of high grade gold in 17MORC044 at Break of Day demonstrates that the deposit remains open with considerable potential to add resources ounces. The next phase of drilling is progressing well as we work towards upgrading the Lena and Break of Day Mineral Resources in June 2017.” The first phase of the current RC drilling program was completed with 44 holes drilled for 4,006m and assay results have now been received for all phase one drill holes. Phase two of the drill program is underway with six new RC holes completed out of a further 35 planned holes for approximately 6,000m. The phase two program will include both extensional and infill drilling at Break of Day and Lena with a focus on the high grade southern extension at Break of Day. First assays are expected in early May. | |
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