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Musgrave Minerals Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Lena, Break of Day | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-5-2017: 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. 15m @ 16.6g/t Au from 170m. Musgrave Minerals Ltd (“Musgrave” or | |
| 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 excellent high grade gold results from the first ten drill holes from the Break of Day and Lena gold prospects in the recently commenced phase two 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 Ltd (ASX: SLR) where Musgrave holds a 60% interest and has elected to increase its interest to 80%.Musgrave Managing Director Rob Waugh commented, “The high grade gold results at Break of Day continue to impress and extend the high grade lodes. The new high grade intersections in 17MORC050 on both the Twilight and Velvet Lode demonstrate that the deposit remains open with considerable potential to add resource ounces through extensional drilling. The current phase of drilling is progressing well as we work towards upgrading the Lena and Break of Day Mineral Resources in June 2017.” Phase two of the drill program is underway with 20 (including the 10 reported here) RC holes completed out of a total 35 planned holes (6,000m). The phase two program includes both extensional and infill drilling at Break of Day and Lena with a focus on the high grade southern extension at Break of Day. Further assay results are expected within two weeks. The objective of the drilling is to complete a new resource estimate in June 2017 that will underpin studies to demonstrate a viable near term path to development. | |
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