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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 received further assay results from its new White Heat prospect, located within the Cue Gold Project in WA’s Murchison district
  • Assay results from the remaining ten holes show further high-grade gold mineralisation near the surface
  • Best new results include 11 metres at 19.6 g/t of gold from 48 metres, including two metres at 94.0 g/t of gold also from 48 metres
  • Today’s results complete the first phase of reverse circulation drilling at the White Heat target to approximately 125 metres vertical depth
  • Further drilling is set to start in two weeks
  • Musgrave last traded 6 per cent higher at 35 cents per share

Musgrave Minerals (MGV) has received further assay results from its new White Heat prospect, located within the Cue Gold Project in WA’s highly prospective, Murchison district.

Last month, assay results from the first 15 reverse circulation (RC) drillholes at the prospect returned high-grade gold over a strike length measuring up to 100 metres.

Today, assay results from the remaining ten holes show further high-grade gold mineralisation near the surface.

Best new results include 11 metres at 19.6 grams per tonne (g/t) of gold from 48 metres, including two metres at 94.0 g/t of gold also from 48 metres.

Another drillhole hit 7.4g/t at 21 metres from 64 metres. including one metre at 35.9g/t of gold from 64 metres and 12 metres at 9.9g/t of gold from 73 metres. including one metre at 84.5g/t of gold from 83 metres.

Managing Director Rob Waugh commented on the results.

“These high-grade, near surface gold results from White Heat further highlight the discovery potential of the project. Exploration is continuing to deliver strong results and add value for our shareholders.”

Additionally, resamples of six-metre composite samples at one-metre intervals from the RC drill holes at the prospect have returned results including two metres at 5.6g/t of gold from 36 metres and two metres at 2.6g/t from 38 metres.

Todays results complete the first phase of RC drilling at the White Heat target to approximately 125 metres vertical depth.

The company says further drilling at the prospect will start in two weeks.

Musgrave also announced today that assays from further follow-up drilling within the new gold corridor are expected early next month.

The company says the corridor, 800 metres west of its Lena prospect, is continuing to produce high-grade gold results in previously un-drilled areas. The company expects to provide consistent updates on these activities in the coming months.

Consequently, a new drill rig is also expected at site next month, which the company hopes will fast-track exploration and resource definition.

Musgrave last traded 6 per cent higher at 35 cents per share.

MGV by the numbers
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