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Musgrave Minerals' new gold discoveries White Heat and Blue Sky continue to deliver

Last updated: 08:55 20 Sep 2023 AEST, First published: 15:01 29 Jun 2022 AEST

Snapshot

  • Ramelius Resources lodges notice of compulsory acquisition for Musgrave Minerals
  • Musgrave Minerals higher on doubling Big Sky gold strike length to more than 2.6 kilometres
  • Musgrave Minerals boosts confidence in Break of Day with new gold results
Musgrave Minerals Ltd - Musgrave Minerals set to upgrade resource estimate, incorporating new Starlight and White Light Gold discoveries for flagship Cue Gold Project, WA

About the company

Ramelius Resources Ltd (ASX:RMS) is listed on the Australian Securities Exchange.

How it is doing

20 Sep 2023

Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has been advised that Ramelius Resources intends to exercise its right to compulsorily acquire the remaining Musgrave shares it does not already hold as part of its off-market takeover offer.

This offer was announced on July 11, 2023, and closed on September 15, 2023, with Ramelius now holding a 91.37% relevant interest of Musgrave shares.

Under the compulsory acquisition provisions of the Corporations Act 2001 (Cth) Ramelius is entitled to proceed to compulsory acquisition of the remaining Musgrave shares in respect of which it has not received acceptances.

Accordingly, a notice of compulsory acquisition has been lodged with ASIC and will be dispatched to all Musgrave shareholders who have not accepted the offer.

15 Sep 2023

Ramelius Resources Limited (ASX:RMS) is moving ahead with the compulsory acquisition of all remaining Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) shares after it acquired a relevant interest of more than 90% of Musgrave shares.

The acquisition of the remaining shares by Ramelius will be via compulsory acquisition powers under the Corporations Act.

05 Sep 2023

Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) has further validated the Cue Gold Project’s high-grade endowment through further bonanza-grade results from reverse circulation (RC) grade control drilling at the Break of Day and White Heat deposits.

Best results from the Twilight and Velvet lodes at Break of Day are 18 metres at 71 g/t gold from 7 metres, including 2 metres at 624 g/t from 14 metres in hole 23MORC318 and 10 metres at 64 g/t from 4 metres, including 2 metres at 226.7 g/t from 9 metres in 23MORC351.

Insight: Musgrave Minerals higher on doubling Big Sky gold strike length to more than...

17 May 2021

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

03 Aug 2023

Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF) MD Rob Waugh speaks with Proactive soon after reporting assay results from a grade control drilling program at Starlight Lode in the Break of Day trend within the Cue Gold Project. The results of up to 1-metre at 780.7 g/t gold from 29 metres and 3 metres at 676 g/t from 31 metres have further confirmed the deposit's high-grade potential. Break of Day trend, which includes the Break of Day and White Heat deposits, boasts a total mineral resource estimate of 982,000 tonnes with an average grade of 10.4 g/t, amounting to 327,000 ounces of gold. A significant portion of this resource, 70%, falls into the higher confidence ‘indicated’ category.

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