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Musgrave Minerals confirms high-grade gold in Break of Day resampling

The Cue Gold Project hosts total resources of 6.45 million tonnes at 3.0 g/t for 613,000 ounces, including Break of Day with 868,000 tonnes at 7.2 g/t for 199,000 ounces.

Musgrave Minerals Ltd - Musgrave Minerals confirms high-grade gold from resampling at Break of Day
Further RC drilling at the Starlight lode is scheduled in early May

Musgrave Minerals Ltd (ASX:MGV) 1-metre resampling has confirmed recent high-grade gold assay results from reverse circulation (RC) drilling at Starlight Link-Lode within the Break of Day deposit of the flagship Cue Gold Project in Western Australia.

The drilling focused on testing the new high-grade link-lode where the mineralisation has been intersected over a strike of more than 100 metres and remains open to the west and down dip.

Best results are 3 metres at 118.4 g/t from 72 metres, including 1-metre at 351.2 g/t from 73 metres, and 55 metres at 2.8 g/t from 97 metres, including 1-metre at 61.4 g/t from 97 metres.

Musgrave Managing Director Rob Waugh said “These results confirm the multiple high-grade gold lodes at Starlight and in many cases improve the grades from the composite sampling.

“Any upside resource growth at Starlight has the potential to significantly impact the future development economics of the Cue Gold Project.”

The RC drilling program consisted of 13 holes for 2,490 metres.

High grades confirmed

The high-grade Starlight link-lode mineralisation is confirmed over a strike length of more than 100 metres, with the high-grade mineralisation remaining open to the west and down dip.

Best results from new 1-metre individual samples at Starlight:

  • 4 metres at 10.3 g/t from 225 metres;
  • 1-metre at 6.6 g/t from 127 metres;
  • 1-metre at 9.8 g/t from 181 metres;
  • 55 metres at 2.8 g/t from 97 metres including 1-metre at 61.4 g/t from 97 metres and 8 metres at 9.2 g/t from 127 metres and 5 metres at 3.8 g/t from 147 metres;
  • 2 metres at 5.4 g/t from 138 metres to EOH including 1-metre at 7.5 g/t from 139 metres to EOH.

All intersections returned from Starlight sit outside the current resource at Break of Day.

Drilling has also extended the Twilight lode a further 100 metres south of the existing Break of Day resource with intercepts of:

  • 3 metres at 118.4 g/t from 72 metres, including 1-metre at 351.2 g/t from 73 metres;
  • 1-metre at 6.3 g/t from 182 metres; and
  • 17 metres at 3.7 g/t from 19 metres, including 9 metres at 5.1 g/t from 21 metres.

Plan showing Starlight link-lode position at Break of Day and Starlight drill collars and assay results

Next steps

The western-most drill hole intersected 2 metres at 5.4 g/t to the end of hole and terminated prematurely due to a disconnected drill bit, with the mineralisation intensifying at the end of hole, which will be redrilled.

A further program of follow-up RC drilling at Starlight is scheduled to start in early May 2020.

This will be completed together with a diamond drilling program ahead of a resource update late in quarter three of 2020.

Evolution JV

Musgrave has executed an $18 million earn-in and exploration joint venture with Evolution Mining Ltd (ASX:EVN) over the Lake Austin portion of the Cue project.

The company is also progressing with the regional aircore geochemical drilling program on Lake Austin with results expected to be reported on completion of the program and receipt of final assays.

The Break of Day, Lena and Mainland areas are excluded from the earn-in and exploration JV.

Cue project

The Cue project is in the Murchison district of Western Australia and hosts indicated and inferred mineral resources of 6.45 million tonnes at 3.0g/t gold for 613,000 ounces of contained gold.

Musgrave believes there is significant potential to extend existing mineralisation and discover new gold deposits within the project area, as demonstrated by the recent drilling success at Break of Day, Lena and Lake Austin North.

Cyprium Metals Ltd (ASX:CYM) has met the expenditure requirement to earn its 80% interest in the non-gold rights over the northern tenure at Cue, including the Hollandaire deposit.

Musgrave will retain 100% of the gold rights and a 20% free-carried interest in the non-gold rights to the completion of a definitive feasibility study.

Quick facts: Musgrave Minerals Ltd

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