Musgrave Minerals Limited (ASX: MGV) has announced a significant resource update at its 100% owned Break of Day gold deposit on the Company’s flagship WA-based Cue Gold Project.
The update comes post the completion of a further 30,000m of infill and extensional drilling at Break of Day along with a re-interpretation of the mineralised lodes.
The Mineral Resource (Indic ated and Inferred) estimate at Break of Day now stands at 797kt @ 10.2g/t gold for 262,000 ounces of contained gold, including Starlight and White Light lodes together hosting 360kt @ 13.9g/t gold for 161,000 ounces of contained gold.
The updated Break of Day resource delivers a 42% increase in gold grade to 10.2g/t Au, 58% increase in Indicated Resources to 175,900 ounces gold and 31% increase in total contained gold ounces.
Musgrave is continuing the successful regional drilling program with a focus on defining further high-grade, near-surface gold deposits to expand the resource base.
Musgrave shared traded at $0.440 during early trade hours on 11 November 2020.