Highlights
- Musgrave Minerals has received excellent assay results from RC grade control drilling at the Break of Day and White Heat deposits.
- The company conducted grade control drilling to de-risk project development.
- The two deposits boast a total MRE of 982kt @ 10.4g/t Au for 327koz Au.
Musgrave Minerals Limited (ASX: MGV) has released the grade control assay results from reverse circulation drill program conducted at the Break of Day and the White Heat deposits within Cue Gold Project in Western Australia.
Latest assays from drilling on the Twilight and Velvet Lodes at the two deposits have further validated the project’s high-grade endowment, suggests the company.
According to the company, its confidence in the resource will get a push up with this grade control drilling. It would allow for a future resource update as well as in de-risking project development.
Data source: Company update
Data source: Company update
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The resource drill campaigns conducted at these deposits previously were at about 15m x 20m spacing. The data gathered from such programs help in completing open pit mining of the discrete and high-grade ore systems successfully and reducing dilution and improving ore recovery.
The latest grade control drilling (7.5m x 7.5m) was undertaken to de-risk the execution phase of project development. It would enable future mining studies to be delivered with greater certainty, says the company.
MGV shares traded at AU$0.340 midday on 05 September 2023, with a market capitalisation of over AU$209 million.