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  • Base metals and gold explorer Musgrave Minerals (MGV) has posted strong results from an aircore drilling program at its Cue gold project in WA
  • The drilling program linked gold anomalism between two key targets in the project area, creating a 1.2-kilometre-long continuous gold anomaly
  • This strike zone has been renamed the Big Sky prospect and is still open to the north and south, where further drilling is ongoing
  • One of the most notable gold hits from the aircore program includes a 30-metre intersection grading 5.8 grams per tonne (g/t) of gold from 30 metres
  • At the same time, resampling work of at the Big Sky prospect has returned encouraging results
  • As such, a follow-up reverse circulation (RC) drilling program at the prospect is set to begin as early as next week
  • Musgrave Managing Director Rob Waugh says the company has three drill rigs on-site with a major drilling program planned for the rest of 2021
  • Shares in Musgrave Minerals are up 4.55 per cent this morning to 34 cents each.

Base metals and gold explorer Musgrave Minerals (MGV) has posted strong results from an aircore drilling program at its Cue gold project in WA.

The drilling program extended regolith gold anomalism in the project area to create a 1.2-kilometre continuous gold anomaly linking two key targets, Target 5 and Target 20.

This strike zone has been subsequently renamed the Big Sky prospect.

What’s more, mineralisation at the new prospect remains open to the north and the south, where further drilling is still ongoing.

One of the most notable gold hits from the aircore program includes a 30-metre intersection grading 5.8 grams per tonne (g/t) of gold from 30 metres, which itself included a 12-metre zone at 4.1 g/t of gold from 42 metres.

Musgrave Managing Director Rob Waugh said the high-grade, strong continuity and near-surface nature of the mineralisation at the Cue project is “extremely encouraging”.

“The aircore drilling is continuing to define strong continuous regolith gold mineralisation along the new gold corridor south-west of Lena under thin transported cover,” Rob said.

“The regolith gold dispersion is over a broad area with reverse circulation follow-up drilling, testing basement targets, scheduled to commence next week,” he said.

Rob added that the company currently has three exploration drill rigs on-site with a major drilling program planned for the rest of 2021.

Big Sky RC sampling

Meanwhile, Musgrave has taken on individual one-metre resampling of six-metre composites from reverse circulation (RC) holes at Big Sky.

According to the company, the sampling work returned significant results including 75 metres at 0.5 g/t of gold from 15 metres, and 24 metres at 1.0 g/t of gold from 31 metres.

Resampling work was also done at the Numbers prospect in the project area, which returned a result of 78 metres at 0.63 g/t of gold from two metres. This included a nine-metre hit at 3.9 g/t of gold from 27 metres.

What’s coming up?

Musgrave management said the “extensive nature and continuity” of the gold mineralisation at Big Sky supports the company’s view that the new prospect could add to Musgrave’s existing resource base.

As such, further aircore drilling is already underway at the prospect, while follow-up RC drilling at Big Sky is expected to begin next as early as next week. Resource definition drilling will follow depending on the success of the RC program.

Meanwhile, Musgrave is busy working on producing a pre-feasibility study at the Break of Day and Lena prospects in the Cue project area.

Cue has a current resource estimate of 6.4 million tonnes at 3.2 g/t of gold for 659,000 ounces of contained gold. This includes the Break of Day prospect resource of 797,000 tonnes at 10.2 g/t of gold for 262,000 ounces of contained gold, as well as the Lena resource of 4.3 million tonnes at 2.3 grams per tonne of gold for 325,000 ounces.

Shares in Musgrave Minerals are up 4.55 per cent at 11:00 am AEST, trading at 34 cents each.

MGV by the numbers
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