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Musgrave Minerals welcomes high-grade surface copper samples from Cue JV project

Samples were taken of mineralised quartz/iron gossans at the Rapier West and mineralised and un-mineralised quartz/iron gossans at Mt Eelya.

Musgrave Minerals welcomes the high-grade surface copper samples results from Cue Copper Project
Mineralised samples from Gossan 8 Mt Eelya

Musgrave Minerals Ltd (ASX:MGV) partner Cyprium Metals Ltd (ASX:CYM) has found high-grade copper surface samples at the joint venture Cue Copper Project, northwest of the Hollandaire deposits in WA.

The samples were from a regional field mapping and surface sampling campaign at the Cue project’s Rapier West and Mt Eelya prospects.

This campaign was carried out to prioritise targets for the next phases of drilling as part of CYM a strategy to increase the copper resource base.

Samples were taken of mineralised quartz/iron gossans at the Rapier West and mineralised and unmineralised quartz/iron gossans at Mt Eelya.

The highlights include:

  • 12.3% copper in Rapier West north costean surface sample;
  • 13% copper in Mt Eelya Gossan 1 surface sample;
  • 10.6% copper in Mt Eelya Gossan 3 surface sample; and
  • 10.2% copper in Mt Eelya Gossan 8 surface sample.

Drilling is planned in the second half of 2020.

Cyprium Metals executive director Barry Cahill said “We are pleased to report these high-grade copper samples as part of our regional review programs to increase the copper resource base at the Cue Copper Project.

“We look forward to updating the market with assay results as they become available as we continue to progress the Cue Copper Project.”

Earn-in agreement

As part of an agreement between a subsidiary of Cyprium and Musgrave, an option has been granted by Musgrave for CYM to earn-in and joint venture for an 80% interest in the non-gold rights over the Cue project tenements.

The earn-in expenditure requirement was met during the March 2020 quarter, which was required for the transfer of the interests and formation of the joint venture.

Quick facts: Musgrave Minerals Ltd

Price: 0.6 AUD

Market: ASX
Market Cap: $283.47 m

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