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- Musgrave Minerals (MGV) has received encouraging assay results from the first 12 reverse circulation (RC) drill holes from the Starlight gold discovery
- Starlight is located in the Break of Day deposit at the Cue Gold Project in Western Australia
- Initial results include an impressive 12 metres at 112.9 grams per tonne of gold
- Managing Director Rob Waugh said this is a “great start to the program”
- The drilling program at Break of Day is now 60 per cent complete and further assays are expected within two weeks
- The company also expects to begin a diamond drilling program next week
- Musgrave is up 50 per cent and selling shares for 22.5 cents each
Musgrave Minerals (MGV) has received encouraging assay results from the first 12 reverse circulation (RC) drill holes from the new Starlight gold discovery.
Starlight is located in the Break of Day deposit at the Cue Gold Project in Western Australia.
Highly encouraging initial results include 12 metres at 112.9g/t of gold from 36 metres, including 6 metres at 143 g/t of gold from 42 metres.
The intersections sit just outside the Break of Day deposit. High-grade mineralisation at Starlight was confirmed over a strike length of 115 metres and remains open at depth.
“This is a great start to the program and confirms the current model extending the mineralisation both up-dip where it approaches the surface and down-dip where it remains open,” Managing Director Rob Waugh said.
“The bonanza high-grade, near-surface mineralisation will enhance the open cut development potential of the deposit while the deeper mineralisation will enhance the underground potential,” he added.
With these results, the current RC drilling program at Break of Day is 60 per cent complete, further assays are expected within two weeks.
What’s next?
Follow-up drilling on the Starlight discovery is currently underway. Musgrave will also be starting a diamond drilling program at the deposit next week.
Musgrave is up 50 per cent on the market this morning, selling shares for 22.5 cents each at 11:05 am AEST.
