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Musgrave Minerals substantial holder Westminex Group increases stake

The purchase boosts Westminex's voting power from 6.23% to 7.25%

Musgrave Minerals Ltd - Musgrave Minerals shareholder Westminex Group secures more voting power in the company
Musgrave recently confirmed a new high-grade gold link-lode discovery

Musgrave Minerals Ltd (ASX:MGV) substantial holder Westminex Group has made several share purchases to change its holding in the company.

It now controls 29,387,961 shares, which boosts its voting power up from 6.23% to 7.25%.

Break of Day

Musgrave recently confirmed a new high-grade gold link-lode discovery at the Break of Day prospect within its flagship Cue Gold Project in Western Australia.

Assay results for four drill holes with two holes intersecting multiple high-grade lodes in the link position include:

  • 6 metres at 55.8 g/t from 108 metres,
  • 42 metres at 5.6 g/t from 146 metres,
  • 7 metres at 7.0 g/t from 183 metres, and
  • 60 metres at 2.7 g/t from 96 metres.

The assays for the final four holes are pending, due in late March 2020, with follow-up drilling at the Starlight link-lode planned to commence in April 2020.

Quick facts: Musgrave Minerals Ltd

Price: 0.54 AUD

Market: ASX
Market Cap: $256.01 m

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