Musgrave Minerals Ltd (ASX:MGV) has hit a new high-grade link-lode in drilling at Break of Day within the Cue Gold Project in Western Australia, including an intersection of 45 metres at 11.8 g/t gold.
A reverse circulation (RC) program of six holes for 786 metres has intersected high-grade gold in a ‘link’ position joining the two main Twilight and Velvet gold lodes at Break of Day.
This program has extended high-grade gold mineralisation to the south and has the potential to add upside to the high-grade Break of Day gold resource.
As well as the 45-metre intersection from 144 metres, drill hole 19MORC037 intersected 23 metres at 16.2 g/t from 166 metres.
Within the 45-metre hit was 11 metres at 14.0 g/t from 144 metres which, in turn, included 5 metres at 29.2 g/t from 150 metres.
Cross-section at Break of Day showing the new high-grade link-lode
Managing director Rob Waugh said: “Drill hole 19MORC037 was drilled to test a new hypothesis and structural interpretation and is a fantastic high-grade result for Break of Day on intersecting a potential new link-lode.
“This result opens numerous possibilities and opportunities to discover additional lodes and grow the Break of Day resource.
“Break of Day continues to deliver consistent high-grades and a few nice surprises.”
Shares have been up as much as 15% to an intra-day high of 9.2 cents, up from 6.8 cents on November 26.
Drill hole 19MORC037 was drilled to confirm a high-grade thicker section of the Break of Day system as well as to test a new structural interpretation and identified a quartz linking structure and gold lode.
Hole 19MORC031 was drilled 35 metres south of 19MORC015 and returned a high-grade result of 6 metres at 5.6 g/t from 126 metres in 6-metre composite samples.
Another hole, 19MORC033, intersected 2 metres at 3.3 g/t and showed the mineralisation continues at depth and is plunging to the south.
Individual one-metre samples from anomalous 6-metre composite intervals have been submitted for analysis.
Additional follow-up drilling is being planned and will be scheduled for Q1 2020 which will lead to a resource update in Q2 2020.
A detailed 3D analysis is also underway for Break of Day to help define the potential for additional possible link positions.