Musgrave Minerals Ltd

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Market Cap:
$27.97 m
0.07 AUD
52 weeks high
52 weeks low

Musgrave Minerals is a focused mineral exploration company applying modern-day exploration techniques and conceptual models to prospective gold and base metals regions of Australia.

Cue Project

Musgrave commenced exploration on the Cue Project in December 2015 and subsequently acquired 100% of the key tenure within the project in August 2017.

The Cue Project consists of the Moyagee Gold and Hollandaire Copper Projects in the highly prospective Murchison Province of Western Australia. The project has significant upside potential with extensional and new high-priority targets. The Cue Project presents an exciting opportunity for Musgrave to extend existing resources and discover new economic mineralisation that could underpin a profitable near term development scenario. Recently, a new high-grade resource was estimated for the Break of Day deposit following the discovery of high-grade gold in 2016.  Break of Day is still open along strike with significant potential to grow the resource.  New gold targets such as Louise together with the strong copper results at Hollandaire and the new Mt Eelya copper-gold-zinc discovery highlight the upside potential of the project.

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Corunna Project

Musgrave has the wholly owned Corunna Project in the Southern Gawler Craton of South Australia. Significantly, silver, lead, zinc and copper mineralisation has been identified in shallow aircore drilling over a strike extent of more than 300m and is open to the north and south.

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Musgrave Province

The Musgrave Province is one of the last under-explored frontiers in Australia in terms of mineral exploration, and is prospective for a number of commodities. The centre piece is the recognition of, and access to, the under-explored potential of the Giles Complex, a 1080Ma aged mafic-ultramafic layered intrusive complex that hosts the massive Nebo-Babel deposit, a major nickel and copper sulphide deposit in the Western Australian portion of the province.

In South Australia, the Musgrave Province lies almost entirely within Anangu Pitjantjatjara Yankunytjatjara (APY) land (Aboriginal freehold land). Musgrave Minerals has built on the strong relationship with the APY people that our cornerstone investor companies have developed.

Historically, exploration activities in the region have been restricted, but access has improved considerably in recent times. We currently hold one granted exploration licence covering an area totalling more than 1,900km2 and 16 exploration licence applications.

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Mimili Project

Musgrave Minerals’ exploration team has completed multiple drilling campaigns in the Musgrave since listing and has drilled massive nickel sulphide in the Pallatu area. The Company has also identified a nickel-copper gossan at the Zarek target and zinc-copper mineralisation at Roslin on the Mimili Project. The Company is currently looking for a partner to accelerate exploration in the Musgrave region.

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Last updated 27th November 2018

Graham Ascough
Chairman, Non-Executive Director
BSc, MAusIMM, PGeo

Graham Ascough has more than 25 years of industry exploration experience evaluating mineral projects and resources in Australia and overseas. Mr Ascough is the Non-Executive Chairman of ASX-listed Mithril Resources Limited, Phoenix Copper Ltd and Avalon Minerals Ltd. He is a geophysicist by training, and prior to joining Musgrave and Mithril Resources, Mr Ascough was the Australian manager of nickel and PGM exploration at major Canadian resources house, Falconbridge Limited (acquired by Xstrata Plc in 2006). He has had broad industry involvement ranging from playing a leading role in setting the strategic direction for significant country-wide exploration programs to working directly with junior explorers. He is a member of the Australian Institute of Mining and Metallurgy and is a Professional Geoscientist of Ontario, Canada.

Robert Waugh
Managing Director

Robert Waugh has more than 25 years’ experience in the resources sector including more than ten years in the Musgrave region. Mr Waugh was a critical member of the WMC Resources Limited exploration team that discovered the massive Nebo and Babel nickel/copper/PGM deposits at West Musgrave in 2000. He was subsequently Project Manager of the team that defined the initial resource at Nebo-Babel. Mr Waugh has held senior exploration management roles at WMC Resources Limited (WMC), BHP Billiton Exploration Limited (BHP), Fusion Resources Limited, Cameco Australia Limited and Raisama Limited.

Mr Waugh spent nearly 20 years with WMC and subsequently BHP following its takeover of WMC in 2005. He has extensive exploration and mining experience in a range of commodities including nickel, copper, gold, uranium and platinum group metals. Mr Waugh holds a Bachelor of Science degree majoring in geology from the University of Western Australia and a Master of Mineral Economics degree from Curtin University and the Western Australian School of Mines. Mr Waugh is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists.

Kelly Ross
Non-Executive Director
BBus, CPA, GradDipCSP

Kelly Ross is a qualified accountant holding a Bachelor of Business (Accounting) and has the designation CPA from the Australian Society of Certified Practicing Accountants. Mrs Ross is a Chartered Secretary with over 25 years’ experience in the mining industry.

Mrs Ross was a senior accountant at Resolute Ltd from 1987 to 2000 during which time Resolute became a gold producer in Ghana, Tanzania and at serveral mines in Western Australia.

Mrs Ross was the Company Secretary of Independence Group NL ("IGO") for 10 years from 2001 to 2011. IGO listed on the ASX in 2002 and commenced mining at the Long Nickel Mine during that year. Mrs Ross was a Director of IGO for 12 years from 2002 to 2014. Mrs Ross retired from the Board of Independence Group NL on 24 December 2014.

Mrs Ross was appointed a Director of Musgrave Minerals on 26 May 2010 and is the Chairman of the Audit Committee.

John Percival
Non-Executive Director

John Percival has been involved in investment and merchant banking for more than 25 years, including 15 years as investment manager of Barclays Bank New Zealand Limited. In addition, he has extensive experience in stockbroking, corporate finance and investment management. Mr Percival is currently a Non-Executive Director of Verde Science Inc.


Last updated 27th November 2018

Head Office

Ground Floor, 5 Ord Street

Telephone: (08) 9324 1061
Facsimile: (08) 9324 1014
Website: www.musgraveminerals.com.au
Email: [email protected]

Current Directors

Graham Ascough (Non-Executive Chairman)
Robert Waugh (Managing Director)
Kelly Ross (Non-Executive Director)
John Percival (Non-Executive Director)

Company Secretary - Patricia (Trish) Farr

Registered Office

Ground Floor, 5 Ord Street

Telephone: (08) 9324 1061
Facsimile: (08) 9324 1014
Website: www.musgraveminerals.com.au
Email: [email protected]

Administrative Office – Perth

Ground Floor, 5 Ord Street

Telephone: (08) 9324 1061
Facsimile: (08) 9324 1014

Share Registry

Computershare Investor Services Pty Ltd
Level 11
172 St Georges Terrace

Auditors and Investigating Accountants

Grant Thornton Audit Pty Ltd
Chartered Accountants
Level 1, 10 Kings Park Road

Solicitors to the Company

O’Loughlins Lawyers
Level 2, 99 Frome Street