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Musgrave Minerals has drilling results pending from Cue Gold Project

The company has been granted a trading halt until Wednesday, June 3, or when an announcement is released.

Musgrave Minerals Ltd - Musgrave Minerals has drilling results pending from Cue Gold Project
Drilling recently resumed at the Starlight discovery

Musgrave Minerals Ltd (ASX:MGV) (FRA:6MU) has news pending of drilling results from its flagship Cue Gold Project in the Murchison district of Western Australia.

The company has been granted a trading halt by the ASX and this will remain in place until the start of regular trade on Wednesday, June 3, 2020, or when an announcement is released to the market.

Shares last traded at 15.5 cents and are up from 7.4 cents at close on March 13.

Drilling resumes

Musgrave recently resumed reverse circulation (RC) drilling at the high-grade Starlight gold discovery at Break of Day within the Cue project.

This program of around 20 holes for 4,000 metres is focused on drill testing the strike and depth extension of the Starlight link-lode.

Once completed, diamond drilling will follow ahead of the anticipated resource update.

Potential to extend mineralisation

Musgrave believes there is 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.

The company’s intent is to investigate options to best develop a low-cost operation, capable of delivering strong financial returns for its shareholders.

Quick facts: Musgrave Minerals Ltd

Price: 0.55 AUD

Market: ASX
Market Cap: $260.75 m

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