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Musgrave Minerals Ltd

Musgrave Minerals drilling extends gold zone to over 3 kilometres

Latest results have intersected the thickest regolith gold yet recorded at Lake Austin.

Location plan showing 2019 aircore drill hole locations
The aircore program consisted of 203 holes for 22,276 metres

Musgrave Minerals Ltd (ASX:MGV) has received new results from aircore drilling at its Lake Austin North A-Zone target within its Cue Project in Western Australia.

Highlights included 50 metres at 1.1 g/t gold from 114 metres down hole, and 28 metres at 1.17 g/t gold from 114 metres down hole.

The results have added weight to Musgrave’s belief that a large mineralised gold system lies hidden under the lake.

Drilling has generated multiple high-priority basement gold targets for drill testing.

Planning is underway to drill test these lake targets and RC drilling at the new Mainland Project is expected to commence in early July.

READ: Musgrave Minerals continues to drill thick, high-grade gold intersections at A-Zone

Musgrave’s managing director Rob Waugh said “These aircore results continue to show the large size of the gold system at Lake Austin North and support the company’s view on the prospectivity of this new undercover gold system.

“The A-Zone gold anomaly now extends for over 3km in strike with additional new targets totalling approximately 8km of combined basement strike in the Lake Austin North area.

“Only ~500m of this strike has seen any basement drilling which equates to approximately 6% of the target area. The upside is huge. These results reinforce the significant potential to grow the gold resource base on the Cue project.”

Proactive caught up with Musgrave earlier this month for an update.

Quick facts: Musgrave Minerals Ltd

Price: $0.08

Market: ASX
Market Cap: $29.01 m
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Musgrave Minerals intersects high-grade gold at Lena and Mainland Prospects

Musgrave Minerals Ltd (ASX:MGV) managing director Rob Waugh updates Proactive Investors on high-grade gold intersected from drilling at the company’s flagship Cue Gold Project in Western Australia.   Both results are below the current JORC resource and highlight the potential to extend...

1 day, 17 hours ago

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