Musgrave Minerals Ltd’s (ASX:MGV) (OTCMKTS:MGVMF) (FRA:6MU) regional drilling program targeting Starlight analogues at its Cue Gold Project in the Murchison district of Western Australia, has intersected up to 3 metres at 17.3 g/t gold from 1-metre.
The company is highly encouraged by the results from Target 9 (Leviticus), which is 1.8 kilometres south of the Break of Day deposit.
Aircore/reverse circulation (RC) traverses have been completed over 20 of the 25 planned targets and assays have been received for the first 12 traverses.
Anomalous gold has been intersected at 10 of the targets including high-grade results from Targets 2 and 9.
Follow-up drilling at these two targets is underway and drill testing of additional Starlight analogue targets within the belt is continuing.
Upside gold potential
Musgrave managing director Rob Waugh said: “Positive results from the regional drilling program continue to highlight the upside gold potential following a re-interpretation of the gold lode geometries within the Break of Day shear corridor.
“Regional target drilling is continuing to test targets, and follow-up of the high-grade results at Target 2 is underway with Leviticus follow-up to follow.”
A single north-south aircore/reverse circulation (RC) traverse across the Leviticus target intersected two separate zones of high-grade, near-surface gold mineralisation.
The 3-metre intersection was within 4 metres at 13.1 g/t gold from 1 metre and another strong hit was 2 metres at 10.3 g/t gold from 33 metres.
Leviticus is about 1.4 kilometres south of Target 2 where the company recently announced aircore/RC results which included:
➢ 5 metres at 13.4 g/t from 28 metres; and
➢ 8 metres at 8.4 g/t from 41 metres.
Further drilling planned
Leviticus hosts an existing inferred resource of 42,000 tonnes at 6.0 g/t gold for 8,000 ounces.
The geological knowledge from the Starlight discovery and re-interpreting the new intercepts at Leviticus suggest a north-northwest strike is permissive for these gold lodes.
Given the possibility of NNW striking lodes, it is likely that historical drilling did not adequately test the northern limit or depth extent of the gold mineralisation at Leviticus.
Further drilling is being planned and will test this hypothesis in the next few weeks.
At the Musgrave 100%-owned tenements, initial follow-up drilling along strike of the new high-grade gold intersections at Target 2 and Target 9 (Leviticus) is scheduled this month.
Further drilling to test the possible new lodes 100 metres to the south of White Light where 4 metres at 3.3 g/t gold and 3 metres at 3.4 g/t was identified in a previous hole, is scheduled for late November.
An updated geological interpretation and Break of Day resource estimate, which will include the Starlight and White Light lodes, is underway and will be released on completion by the end of this month.
The current resource estimate for the Cue Gold Project totals 6.45 million tonnes at 3.0 g/t for 613,000 ounces, including Break of Day deposit (868,000 tonnes at 7.2 g/t for 199,000 ounces) and Lena deposit (4.3 million tonnes at 2.3 g/t for 325,000 ounces).
A regional aircore/RC drilling program testing 25 regional and Starlight analogue targets is continuing.
Lake Austin drilling
At the joint venture with Evolution Mining Ltd (ASX:EVN), a Phase 2 aircore drilling program testing high-priority gold targets on Lake Austin is continuing with 12,363 metres of a planned 21,900 metres program completed at the end of the quarter.