Sampling work. Source: Musgrave Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Musgrave Minerals (MGV) intersects additional near surface gold mineralisation at its Cue Gold Project in Western Australia’s Murchison district
  • The latest assays from infill resource drilling at the Big Sky prospect have returned up to 42.8 grams of gold per tonne over one metre, with grades starting from surface
  • The company says the results to date confirm the potential for high-grade zones at the prospect and assays are pending for another 36 holes
  • Diamond drilling is underway and Musgrave remains focused on delivering a maiden mineral resource estimate by the end of quarter two of 2022
  • Musgrave Minerals remains steady at $0.35 per share as of 11:30 am AEDT

Musgrave Minerals (MGV) has intersected additional near surface gold mineralisation at its Cue Gold Project in Western Australia’s Murchison district.

The company has been undertaking reverse circulation (RC) drilling across the project area and earlier this month announced it had struck several high-grade intersections, in particular at White Heat with 15 metres at 111.6 grams per tonne (g/t) gold.

At the Big Sky prospect, infill resource drilling is testing the continuity, grade and down dip extent of the mineralisation.

The gold target extends for over 2.6 kilometres of strike.

Results for a further 39 RC holes have been received with new intercepts returning up to 42.8 g/t gold over 1 metre, with high grade gold starting from surface.

Musgrave said drilling is continuing to intersect multiple, parallel, high-grade mineralised zones, confirming the potential of the system to host higher grade zones.

Diamond drilling has commenced at Big Sky and the company is working towards delivering a maiden mineral resource estimate focussing on the top 120 metres from surface, by the end of quarter two of 2022.

Follow-up drilling has also commenced at White Heat to follow up the high-grade result.

Additionally, infill resource definition RC drilling at the Big Sky will be paused over the Christmas period and is set continue in January with further assays results expected in early February.

Musgrave Minerals remains steady at $0.35 per share as of 11:30 am AEDT.

MGV by the numbers
More From The Market Herald

" Desert Metals (ASX:DM1) initiates drilling at Belele and Innouendy

Desert Metals (ASX:DM1) has begun a five-hole reverse circulation (RC) program at the Belele project in…

" Tower (ASX:TWR) responds after natural disaster in Tonga

Insurance provider Tower (ASX:TWR) is in assessing the impact of the significant eruption of underwater volcano…

" Frugl (ASX:FGL) releases new grocery app update

Retail intelligence ecosystem Frugl (ASX: FGL) has released version 3.0 of Frugl Grocery, a free grocery…

" Vanadium Resources (ASX:VR8) increases stake in Steelpoortdrift Project

Vanadium Resources (A:VR8) increased its interest to 73.95 per cent in the Tier 1 Steelpoortdrift Vanadium…