This trading halt will remain in place until the start of normal trading on Monday, April 27, 2020, or when an announcement is released to the market, whichever occurs first.
Shares of the company which has a market cap of approximately $46.7 million last traded at 11.5 cents, up from 7.4 cents at market close on March 13.
High-grade gold at Break of Day
Musgrave’s 1-metre sampling within the Break of Day deposit at its flagship Cue Gold Project has confirmed recent high-grade gold assay results from reverse circulation (RC) drilling.
The drilling focused on testing the new high-grade Starlight link-lode intersected over a strike of more than 100 metres.
Best results were 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.
At the time 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.”