Musgrave Minerals’ (ASX:MGV) Regional Program Reaches New Heights with High-Grade Gold Hits

  • November 04, 2020 04:28 PM AEDT
  • Team Kalkine
    Team Kalkine
    admin Team Kalkine
    16956 Posts

    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

Musgrave Minerals’ (ASX:MGV) Regional Program Reaches New Heights with High-Grade Gold Hits


  • The regional drilling program undertaken by Musgrave Minerals (ASX:MGV) intersected high-grade gold at Target 9 (Leviticus), which is 1.8km south of Break of Day. 
  • The drilling program is testing additional Starlight analogue targets in the belt. 
  • Musgrave Minerals has completed Aircore/RC traverses over 20 of the 25 targets where drilling was planned, with assays received for the initial 12 traverses. 
  • At 10 of the targets, anomalous gold has been intersected. 
  • Regional drill testing for further Starlight analogues and the follow-up drilling at Targets 2 and 9 is currently underway. 

The exploration undertakings of Australian gold-focused explorer, Musgrave Minerals Limited (ASX: MGV) continues to yield robust outcomes, enhancing the potential of its Cue Project located in Murchison district of Western Australia. 

The Company announced assay results for a further 56 aircore/reverse circulation (RC) holes, drilled as a part of the ongoing regional exploration program. The regional drilling intersected high-grade gold at the Leviticus target (Target 9), which lies 1.8km south of Break of Day. 

Post the significant announcement, Musgrave shares marked an uptick of 4%, trading at $0.530 on 4 November 2020 (at 12:39 PM). 

ALSO READ: Musgrave Minerals’ (ASX: MGV) Exploration Strikes Victory with Robust Gold Recoveries in Starlight Metallurgical Test work

Lens through the Regional Drill Program

The regional drill program underway is testing new Starlight analogue targets in the belt, where recent robust gold discoveries have enhanced the exploration and discovery potential. Significantly, Starlight gold discovery at the Break of Day deposit returned series of high-grade results. 

ALSO READ: Starlight Discovery: A Driving Force to Musgrave Minerals’ (ASX: MGV) Expanding Resources and Potential

The Company is completing single traverses of aircore/RC drill holes as a first pass test over ~25 individual targets, with the regional program extended to over 18,000m. To date, a total of 273 aircore/RC holes have been completed across 16,000m over 20 of a planned 25 targets, where drilling was planned. Musgrave has received assays for 105 holes across 12 targets. Targets derived from geochemical, geological, and geophysical data are being tested.

Casting an Eye over Leviticus Target

The Leviticus target or Target 9 returned the best results in the latest batch of assays. To date, the Company has received assays for 12 of the completed 20 traverses. Notably, Musgrave intersected anomalous gold at 10 of the targets, which also includes the high-grade, near-surface results from Targets 2 and 9. 

Leviticus is roughly 1.4km south of Target 2, where the Company recently reported robust aircore/RC results. At Leviticus, historical east-west drilling intersected high-grade gold. 

An existing inferred resource of 42,000t @ 6.0g/t Au for 8,000oz is hosted by the Leviticus target. Implementation of Starlight’s geological knowledge and re-interpretation of the new intercepts at Target 9 suggest a north-northwest strike, permissive for the gold lodes. 

Considering the possibility of north-north-west striking lodes, it seems like that northern limit or depth extent of the gold mineralisation at Leviticus have not been tested in the historical drilling. Musgrave is planning further drilling to test the hypothesis in the next few weeks. 

Discussion of Results

One-metre individual samples have been analysed from aircore/RC holes drilled in the current program, with all reported intervals assaying 6m above 0.1g/t Au are of potential significance.

The initial drilling indicates the possibility of two sub-parallel gold lodes which strikes north- northwest. To define the strike as well as depth extent of the mineralised position, the Company would be required to undertake additional follow-up drilling

Anomalous gold results were also returned from drilling at targets 8, 10, 11 and 23 in the regolith, with further assessment ongoing before follow-up drilling.

Furthermore, low-moderate grade gold mineralisation was intersected from the drilling of Target 6 at Lena. The mineralisation is consistent with the current geological model of Lena. 

ALSO READ: Musgrave Minerals (ASX:MGV) Reports High-Grade Gold at a New Target to the South Of Starlight

Ongoing Exploration



The website is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and 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 stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images 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 on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


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