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Musgrave Minerals (ASX:MGV) maps out new gold corridor at Cue

Source: Maksim Safaniuk, Shutterstock

Summary

  • Musgrave Minerals has reported a new gold corridor following the high-grade results at three new prospects including Target 5, 14 and 20.
  • The new mineralised corridor stretching for potentially 7 kilometres in length had no previous drilling.
  • Further assay results are expected in near-term from White Heat as well as follow-up of Targets 5, 14 and 20.

Musgrave Minerals Limited (ASX: MGV) is on a roll at the high-grade Cue project, with another set of results unveiling a new gold corridor at the project. The excellent results come from the first basement Reverse Circulation (RC) drilling of regional targets (Target 5, 14 and 20) where high-grade gold has been intersected along the new corridor.

ALSO READ: Musgrave Minerals’ golden run continues at White Heat with latest results

Results at New Regional Gold Corridor

Significant gold mineralisation was returned from the first basement RC drilling (west of Lena), delivering a new mineralised corridor, which extends from Target 14 (in the north) through to Targets 5 and 20 (2.5 kilometres to the south) where mineralisation remains open. The area has not been subject to previous drilling, and the corridor runs for almost 7 kilometres.

Source: MGV ASX Update, 8 March 2021

At Target 14, the drilling was aimed at identifying the source of a regional regolith aircore gold anomaly (800 metres west of Lena), which is interpreted to portray a shear corridor, which is likely new and untested and is hosted in sedimentary and felsic lithologies.

The drilling has intersected robust and shallow gold mineralisation, open down dip and along strike.

The early-stage broad intercepts outline a well-mineralised corridor, which has remained mainly undrilled in bedrock and has a potential to host high-grade gold mineralisation of significant width. One-metre samples from anomalous gold composites have been submitted for individual analysis.

ALSO READ: Musgrave Minerals eyes a golden 2021 with Cue project running like clockwork

Significant Intersections at Three Targets

Target 14

  • 21MORC019- 30m @ 3.5g/t Au from 36m including 12m @ 6.9g/t Au from 36m
  • 21MORC019 - 48m @ 0.2g/t Au from 102m to EOH
  • 21MORC017- 6m @ 1.46g/t Au from 84m

Target 5

Four out of six RC holes returned mineralisation, drilled over a ~200 metre strike length (remaining open to the north, south and down dip).

Initial intersections at Target 5 (6 metres composite samples) include:

  • 21MORC030- 34 metres @ 0.73g/t Au from 42 metres to EOH including:
    • 18m @ 1.8g/t Au from 48m
  • 21MORC0029- 52m @ 0.61g/t Au from 30m to EOH including:
    • 12m @ 1.2g/t Au from 36m
  • 21MORC028- 94m @ 0.26g/t Au from 6m to EOH
  • 21MORC025- 78m @ 0.45g/t Au from 12m to EOH

One metre resamples include:

  • 20MUAC412- 15m @ 14.2g/t Au from 24m including:
    • 5m @ 42.2g/t Au from 25m including:
      • 1m @ 179.7g/t Au from 25m
    • 20MUAC403- 11m @ 1.0g/t Au from 2m
    • 20MUAC407- 1m @ 13.6g/t Au from 41m to EOH
    • 20MUAC431- 1m @ 7.4g/t Au from 26m
    • 20MUAC411- 1m @ 5.3g/t Au from 7m

Further aircore drilling is being undertaken and another RC drill rig is now being sourced to follow-up the outcomes.

Target 20

At Target 20 (400 metres south of Target 5), the drilling intersected:

  • 21MORC020- 30m @ 0.74g/t Au from 38m to EOH including:
    • 6m @ 2.3/t Au from 44m

ALSO READ: Musgrave Minerals (ASX:MGV) Regional Exploration Highlights Upside Gold Potential Of The Belt

Sneak Peek at the Numbers Prospect

At the Numbers Prospect, a single RC hole was drilled to confirm continuity. The drilling intersected mineralisation from the surface that is consistent with the existing model. The prospect hosts a historical Inferred Resource of 278,000t @ 2.46g/t Au for 22,000oz gold.

Mineralised intersections (6m composite samples) include:

  • 21MORC024- 48m @ 0.89g/t Au from 0m including:
    • 12m @ 3.0/t Au from 24m

Source: Copyright © 2021 Kalkine Media Pty Ltd, Data Source: MGV ASX update, dated 8 March 2021

MGV traded at AUD 0.295 on 8 March 2021.

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