Musgrave Minerals (ASX:MGV) - Managing Director, Rob Waugh
Managing Director, Rob Waugh
Source: Musgrave Minerals
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  • Musgrave Minerals (MGV) is celebrating after finding more bonanza gold grades, including 303.2 grams per tonne gold, at the White Heat prospect
  • Infill diamond drilling intersected 3.4 metres at 107.6g/t gold from 74.6 metres, including 1.2 metres at 303.2g/t gold
  • The company says the mineralisation at White Heat remains open down plunge, with plans under way to carry out more drilling there in September
  • MGV previously found high-grade and bonanza grades during near-surface drilling at White Heat, part of its Cue Gold Project in Western Australia
  • Shares in MGV are up 10.3 per cent at 32 cents per share at 10:42 am AEST

Musgrave Minerals (MGV) is celebrating after finding more bonanza gold grades, including 303.2 grams per tonne gold, at the White Heat prospect in Western Australia.

Best results from the drilling include 3.4 metres at 107.6g/t gold from 74.6 metres, including 1.2 metres at 303.2g/t gold.

Musgrave Managing Director Rob Waugh said it was pleasing to see more strong results from White Heat after previously finding high-grade and bonanza grade results at the site earlier this year.

“These are bonanza results and support our previous drilling at the high-grade White Heat deposit,” Mr Waugh said.

“The results from White Heat further highlight the potential to discover additional high-grade gold lodes within the project area.”

The materials stock found the bonanza grade hits after carrying out infill diamond drilling at the prospect, which is within MGV’s Cue Gold Project.

The company said the mineralisation at White Heat remained open down plunge and plans were under way to carry out additional drilling at the site in September.

Mr Waugh also confirmed assay results were expected from reverse circulation drilling at MGV’s Big Sky asset.

“The combination of near-surface high-grade lodes like White Heat and Starlight, together with the large, moderate grade Big Sky style targets are expected to complement each other and enhance the future development potential of the project,” Mr Waugh said.

“Exploration is continuing to deliver strong results and add value for our shareholders.”

Shares in MGV were up 10.3 per cent at 32 cents per share at 10:42 am AEST.

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