Musgrave Minerals (ASX: MGV) gets “exceptional” gold assays for Break of Day

Highlights

• Musgrave Minerals has announced grade control assays from RC drilling on Starlight Lode at Break of Day, on its Cue Gold Project, confirming its high-grade endowment.
• Grade control drilling (7.5m x 7.5m) is underway to de-risk the project’s execution phase of development.
• The Break of Day high-grade mineralised trend has an MRE of 982kt @ 10.4g/t Au for 327koz Au.

Musgrave Minerals Limited (ASX: MGV) has announced grade control assay results from reverse circulation (RC) drilling on the Starlight Lode deposit at Break of Day, on its Cue Gold Project in Western Australia.

* ETW = estimated true width (image data source: company update)

According to the company, this grade control drilling will allow a future resource update and de-risk the development of the project. It is the initial stage of a larger grade control program with additional drilling at Break of Day and the White Heat deposit also now completed.

Grade Control Drilling, Break of Day (Starlight Lode)
The grade control campaign marks the last drilling stage before approvals, permits, and further development studies. The drill hole density has been infilled to 7.5m x 7.5m to a vertical depth of around 30m inside the Stage 1 PFS Break of Day starter pit.

The data from this drilling will help in open pit mining of the discrete and high-grade ore systems, lowering dilution and increasing ore recovery.

The Photon Assay technique was used at the assay labs on a bigger sample size with lesser sample preps needed, thereby decreasing the chance of lab sample contamination.

Quartz flushes were utilised following individual samples where very high grades were expected. So far, there are no historic workings on Starlight and no voids were intersected in the Starlight grade control drilling program.

About Break of Day Trend
The total Mineral Resource Estimate for the Break of Day high-grade mineralised trend is 982kt @ 10.4g/t Au for 327koz gold.

The Break of Day Stage 1 PFS includes 668kt @ 7.0g/t for 149.3koz in open pit mining, including a smaller starter pit of 115kt @ 9.6g/t for 35.5koz. A subsequent underground mine tally of 484kt @ 4.8g/t for 75.2koz as a production target is also extracted. The White Heat Stage 1 pre-feasibility stage (PFS) open pit design is host to 198kt @ 9.2g/t for 58.2koz.

MGV shares were spotted trading at AU$0.330 midday 03 August 2023, with a market cap of AU$192.14 million.