Musgrave Minerals' new gold discoveries White Heat and Blue Sky continue to deliver
- Musgrave Minerals broad, near-surface high-grade results open up further Cue gold discovery potential
- Musgrave Minerals higher on doubling Big Sky gold strike length to more than 2.6 kilometres
- Musgrave Minerals reports further thick intervals of near-surface gold at Target 14 & Big Sky
Quick facts: Musgrave Minerals Ltd
Price: 0.265 AUD
Market Cap: $141.3 m
About the company
Musgrave Minerals Ltd (ASX:MGV) is an active explorer and a potential gold producing company.
The company’s cornerstone project is the Cue Project in the Murchison Province of Western Australia where it holds 100% of the key project tenure containing the existing gold resources.
Musgrave also has a large footprint in the Musgrave Province of South Australia and continues to review new opportunities to identify additional projects that would complement the company’s current activities and add value for its shareholders.
How it is doing
Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) continues to grow confidence in the potential of the flagship Cue Project in Western Australia to deliver a plus 1-million-ounce resource with further broad, near-surface high-grade gold returned from new discovery opportunities.
Reverse circulation (RC) drilling at the Target 14 and Big Sky prospects along the new gold corridor southwest of the Lena and Break of Day resources in WA’s Murchison district returned encouraging results.
At Target 14 the best result was 36 metres at 2.9 g/t from 12 metres, including 24 metres at 4.1 g/t from 24 metres while Big Sky returned 60 metres at 1.0 g/t from 42 metres and this was 50 metres south of a previous result of 73 metres at 1.4 g/t.
Musgrave managing director Rob Waugh said Big Sky and Target 14 were new and exciting discovery opportunities for the company.
Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has hit bonanza-grade gold during infill diamond drilling at the White Heat prospect, an exploration target within its cornerstone Cue Gold Project in Western Australia’s Murchison District.
The gold explorer unsurfaced up to 303.2 g/t gold as it drilled at the near-surface gold target, with mineralisation intersected over a 70-metre to 100-metre strike extent.
Big Sky is becoming an integral part of Musgrave’s 100%-owned flagship Cue Gold Project in Western Australia’s Murchison district and provides the potential for resource growth
Insight: Musgrave Minerals higher on doubling Big Sky gold strike length to more than...
Musgrave Minerals Ltd (ASX:MGV) (OTCMKTS:MGVMF) (FRA:6MU) is higher after receiving further strong results from regional aircore drilling at Big Sky prospect along a new gold corridor southwest of Lena at the flagship Cue Gold Project in Western Australia.
The aircore (AC) drilling has further extended the regolith gold mineralisation with the strike length doubled to more than 2.6 kilometres and this remains open to the north, south and down dip.
What management says
Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF)'s Rob Waugh tells Proactive they're continuing to grow confidence in the potential of the flagship Cue Project in Western Australia to deliver a plus 1-million-ounce resource with further broad, near-surface high-grade gold returned from new discovery opportunities. RC Drilling at the Target 14 and Big Sky prospects along the new gold corridor southwest of the Lena and Break of Day resources in WA’s Murchison district have returned encouraging results
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...FOR OUR FULL DISCLAIMER CLICK HERE