- Musgrave Minerals has continued drilling at Mainland to follow-up on high-grade gold results
- These gold results recorded grades of up to 10 grammes per tonne
- Additional reverse circulation drilling is now planned for the Lena and Break of Day deposits
- Musgrave’s share price closed steady with shares priced at 7.9 cents each
Musgrave Minerals has recommenced drilling at Mainland to follow up on the high-grade gold results from August.
The company will also follow-up the high-grade rock-chip sample identified in early October.
It has also received further high-grade gold assay results from diamond drilling at the Lena deposit.
Both Mainland and Lena are part of Musgrave’s flagship Cue Gold Project in Western Australia’s Murchison district.
“We are excited to recommence drilling at Mainland in areas where we have previously identified high-grade gold,” Managing Director Rob Waugh said.
“There is significant untested gold potential within the Mainland tenements and we are only just getting started in terms of applying modern exploration techniques in the area,” he added.
Assays from the latest diamond drill holes completed at Lena returned high-grade gold over potentially mineable widths below the current JORC resource boundary.
The results also confirm the continuity of the mineralisation at depth.
In March 2019 Musgrave completed an initial reverse circulation drilling program at Mainland and intersected 3 metres at 5.4g/t gold from 74 metres downhole.
This target remains open to the south and down dip, with follow up drilling having begun to further test this area. Other high-priority targets will also be tested, including the area where a high-grade, 3499.4g/t, rock-chip sample was identified.
However, there is no historical drilling in the area and the current program will consist of 18 reverse circulation (RC) holes for approximately 1000 metres and will take a week to complete.
Once completed, the rig will move to and test the Break of Day and Lena deposits.
“At Lena we continue to define high-grade extensions to the gold mineralisation below the existing JORC resource boundary,” Rob commented.
“The drilling has improved our confidence in the continuity of the high-grade mineralisation at depth and will likely add high-grade ounces as we continue to drill to upgrade the existing resource at Lena,” he said.
The Lena deposit has an existing JORC 2012 resource of 2682k tonnes at 1.77g/t gold for 153,000 ounces. This is only estimated to a maximum vertical depth of 160 metres at the main lode.
The deposit consists of a number of gold lodes with some having significant high-grade potential at depth below the existing resource.
Two of the three diamond drill holes completed at Lena intersected high-grade gold lodes over potentially miserable widths.
Results include 6 metres at 4.4g/t gold from 191 metres, 2.2 metres at 10.6g/t gold from 194.8 metres, and 2.8 metres at 4.8g/t gold from 384 metres.
Mineralisation remains open down plunge on all holes.
The new drilling supports the re-interpretation of historical drill data that identified a southerly plunge on the high-grade lodes that remain open at depth below the current JORC resource boundary.
Musgrave is now working towards delivering a Lena resource update in the first quarter of 2020.
Further RC drilling at Lena and Break of Day will also be completed to extend and grow the existing resources in scheduled for early November.
Musgrave’s share price remained steady today with shares trading for 7.9 cents apiece at market close.