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Musgrave Minerals enjoys golden run in June quarter; widens gold footprint at Cue

Summary

  • In the June quarter, Musgrave Minerals undertook regional exploration drilling at several prospects on the Cue gold project. 
  • The significant drilling results build on the past exploration success at Cue’s Break of Day and Lena deposits. 
  • Musgrave has recommenced follow-up diamond drilling at West Island on Lake Austin.  

Musgrave Minerals Limited (ASX: MGV) has concluded the June Quarter of 2021 with a flurry of initiatives and significant results. The Australian resources company is dedicated to gold exploration as well as development at the Cue Project in Western Australia. The Cue Project’s key deposits include Break of Day and Lena, which boast significant gold mineralisation. 

RELATED ARTICLE: Robust resource inventory puts Musgrave Minerals (ASX:MGV) on fast growth track at Cue

During the quarter, Musgrave advanced its regional exploration drilling on wholly owned Cue tenure while the exploration initiatives progressed significantly at Lake Austin, a part of a joint venture with Evolution Mining Limited. 

As part of regional exploration drilling, a total of 169 Reverse Circulation (RC) holes were completed for around 17,300m of drilling across multiple areas. In addition, the Company also completed 15 diamond drilling (DD) holes over an advance of around 1,973m for the purpose of metallurgical testing, exploration, and geotechnical studies. 

Source: Copyright © 2021 Kalkine Media, Data Source: MGV update, dated 30 July 2021

With this backdrop, let us look at key areas that remained the focus of Musgrave’s exploration in the June Quarter. 

Results at White Heat Prospect

White Heat is located 300m south of Break of Day and has a strike extent of ~70m. Musgrave has completed three diamond drill holes at White Heat with assays pending.

Source: Copyright © 2021 Kalkine Media, Data Source: MGV update, dated 30 July 2021

RELATED ARTICLE: Musgrave Minerals scores another set of great results at White Heat

Golden run at Big Sky Prospect 

Aircore drilling has continued to define regolith gold mineralisation over a continuous trend extending for 2.6km. At Big Sky, MGV has completed one diamond drill hole, with assay results awaited. In addition, RC drilling is underway at the prospect. 

ALSO READ: Musgrave Minerals Limited (ASX: MGV) buoyed up on extension of high-grade gold anomaly

Source: Copyright © 2021 Kalkine Media, Data Source: MGV update, dated 30 July 2021

Target 14 Prospect shows encouraging results

Target 14 sits 800m north of the Big Sky prospect, with aircore drilling extending the anomalism to more than 3km of strike length. Target 14 forms part of a new 7-km long corridor, which is present 1.2km southwest of Break of Day. 

Significant RC drill results include: 

  • 18 metres @ 1.2g/t Au from 42 metres (21MORC105)

RELATED ARTICLE: Musgrave Minerals (ASX:MGV) Continues Winning Streak At Target 14 With High-Grade Gold Results

Numbers Prospect could be satellite pit 

With an Inferred Resource of 278,000t @ 2.46g/t Au for 22,000oz gold, the Numbers Prospect seems to have the potential to become a satellite pit to a larger development at Break of Day/Lena.

The Company drilled 22 resource definition RC holes at the prospect aimed at confirming mineralisation continuity and improving the resource estimate to the higher confidence Indicated category. These RC holes are spaced on around 20m x 20m grid. The mineralisation intersected in most drill holes is consistent with the existing model. 

Lake Austin Region (EVN JV)

The Lake Austin area, which is significantly underexplored, is highly prospective for gold. Musgrave is currently managing the exploration with Evolution Mining providing solid technical input. 

A 2,720m diamond drilling program has completed seven drill holes on Lake Austin to follow up on the large, high tenor, regolith gold anomalies at the Lake Austin North and West Island prospects. All the four DD holes drilled at West Island have returned significant gold intercepts. 

ALSO READ: Musgrave Minerals (ASX: MGV) strikes a high-grade gold zone at West Island

  • 11.5 metres @ 3.2g/t Au from 245 metres (21MODD006), including;
    • 3.0m @ 10.6g/t Au from 247.5m
  • 11.0 metres @ 3.6g/t Au from 272 metres (21MODD001), including;
    • 5.0 metres @ 5.5g/t Au from 276 metres
  • 5.0 metres @ 2.7g/t Au from 169 metres (21MODD002)
  • 0.4 metre @ 23.5/t Au from 144.7 metres (21MODD007)

Ongoing exploration widening Musgrave’s gold footprint

Source: Copyright © 2021 Kalkine Media, Data Source: MGV update, dated 30 July 2021

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