Sponsored

Musgrave’s (ASX:MGV) exploration strategy at Cue delivers high-grade gold and new regional targets - Kalkine Media

Follow us on Google News:
 Musgrave’s (ASX:MGV) exploration strategy at Cue delivers high-grade gold and new regional targets
Image source: MGV Presentation 18/11/2021

Highlights

  • Musgrave Minerals has received additional high-grade gold results from follow-up reverse circulation (RC) drilling at the Amarillo Prospect
  • MGV is continuing resource definition drilling at Amarillo and anticipates a maiden MRE in early next year
  • MGV has also identified new near-surface regolith gold occurrences through early-stage AC drilling to the north of Amarillo
  • MGV has planned to test these new targets through an RC drill planned for July 2022.

Musgrave Minerals Limited (ASX:MGV) has again received impressive results from the drilling work at the Amarillo Prospect on its flagship Cue Gold project in Western Australia. The Company has also made a discovery through early-stage aircore (AC) drilling to the north of the prospect.

Musgrave is continuing various works across multiple deposits and prospect areas and is keen to undertake further activities to upgrade the Mineral Resource Estimate (MRE) in future.

Source: MGV Announcement 29/06/2022

RELATED READ: Musgrave Minerals (ASX:MGV) strengthens exploration team with latest appointment

High-grade gold assay results at Amarillo Prospect

The latest results indicate additional high-grade gold assay results from RC drilling at the prospect.

The latest intersections are beyond the present MRE boundaries and indicate the possibility to further increase the resource base at MGV’s flagship project. Presently, the MRE for the project stands at 927,000 oz of Au.

The latest drill intersections include the following:

Source: MGV Announcement 29/06/2022

MGV has focused on the top 120m within a deep regolith profile through drilling to date and has identified two parallel gold lodes at the prospect. These lodes strike north-south and dip sub-vertically, wherein individual strike length for the western lode and the eastern lode is around 100m and 300m, respectively.

Amarillo prospect showing drill hole (Source: MGV Announcement 29/06/2022)

AC drilling delivers new targets

MGV has also announced that new near-surface regolith gold occurrences have been discovered through the initial stage of AC drilling at Amarillo.

The new targets lie within the southern extension of the dolerite unit, which is a host to the high-grade gold mineralisation discovered at West Island. MGV has identified five new targets to date that may represent dispersed gold halos over a basement source.

Source: MGV Announcement 29/06/2022

The latest AC drilling intersections comprise the following:

  • 10m @ 1.2g/t Au from 102m to EOH (22MUAC048)
  • 1m @ 7.1g/t Au from 113m (22MUAC265)
  • 6m @ 1.3g/t Au from 42m (22MUAC094)

MGV looks to conclude the initial phase of the follow-up RC drilling to test these new targets in July.

MGV’s ongoing engagements

MGV is continuing RC drilling at the Amarillo prospect, and additional assay results are currently pending. The Company further anticipates a maiden MRE for the Amarillo prospect in early 2023.

MGV has concluded Phase 1 infill diamond drilling at Break of Day and Lena and assays are currently pending. Additional ongoing activities include the following:

Source: © 2022 Kalkine Media® | Data Source: MGV Announcement 29/06/2022

Moreover, work to advance the pre-feasibility level studies at the new Big Sky and White Heat-Mosaic resources are expected to start in Q3 2022.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK