Musgrave Minerals (ASX:MGV) - Managing Director, Rob Waugh
Managing Director, Rob Waugh
Source: The Pick Online Magazine [YouTube]
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  • Musgrave Minerals (MGV) has discovered a new gold corridor which is believed to span seven kilometres at its Cue Gold Project in WA
  • Reverse circulation drilling intersected significant gold mineralisation and returned grades of up to 42.2g/t and 179.7g/t gold at target five
  • Follow-up drilling is now underway to define the strike and depth extent of the mineralisation
  • Musgrave is up 1.69 per cent and shares are trading at 30 cents

Musgrave Minerals (MGV) has received more results from reverse circulation (RC) drilling at the Cue Gold Project in Western Australia.

Importantly, drilling intersected significant gold mineralisation in a potential new gold corridor. This mineralised corridor spans seven kilometres and extends from target 14 in the north through to targets five and 20 to the south where it remains open.

Drilling at target 14 aimed to identify the source of a regional regolith aircore gold
anomaly that sits 800 metres west of Lena.

“This new well mineralised gold corridor remains largely undrilled in bedrock and can host significant widths of high-grade gold mineralisation,” Managing Director Rob Waugh said.

Target 14 returned 30 metres at 3.5g/t gold from 36 metres including 12 metres at 6.9g/t gold from 36 metres and 48 metres at 0.2g/t gold from 102 metres to end-of-hole.

Initial intersections from target five returned 34 metres at 0.73g/t gold from 42 metres to end-of-hole including 18 metres at 1.8g/t gold from 48 metres, 52 metres at 0.61g/t gold from 30 metres to end-of-hole including 12 metres at 1.2g/t gold from 36 metres.

Individual resamples from aircore holes at target five returned 15 metres at 14.2g/t gold from 24 metres including five metres at 42.2g/t gold from 25 metres including one metre at 179.7g/t gold from 25 metres, and one metre at 13.6g/t gold from 41 metres to end-of-hole.

Drilling at target 20, which lies 400 metres south of target five, returned 30 metres at 0.74g/t gold from 38 metres to end-of-hole including six metres at 2.3g/t gold from 44 metres.

Additionally, Musgrave drilled a single hole at the Numbers prospect to confirm continuity of mineralisation. Results include 48 metres at 0.89g/t gold including 12 metres at 3g/t gold from 24 metres.

“We have now intersected basement gold mineralisation in broad intervals over more than three kilometres of strike in this new shear corridor and the team is excited by the opportunity to continue to test this area,” Rob concluded.

Musgrave is now conducting follow-up drilling to define the strike and depth extent of the mineralisation.

Company shares are up 1.69 per cent and trading at 30 cents at 11:48 am AEDT.

MGV by the numbers
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