Musgrave Minerals Limited (ASX: MGV) has released quarterly activities update ending March 2020.
At Cue Gold project, MGV reported following key drilling updates:
- Break of Day- Intersection of the high-grade gold at new Starlight Link-Lode via latest RC drilling
- Lena- Increase in Mineral resource to 4.3Mt @ 2.3g/t gold for 325,000 ounces of contained gold; increasing Cue’s Total Mineral Resource to 6.45Mt @ 3.0g/t gold for 613,000 ounces of contained gold.
- Evolution JV - Regional aircore drilling continued
Subsequent to the quarter, Musgrave sold 7.5 million Legend Mining Limited shares and exercised 10 million options for a net gain of $634k cash with a retained holding of 12.5 million Legend shares.
MGV traded at $ 0.115 (12:34 PM AEST).