- Musgrave Minerals (MGV) has discovered the White Light lode, 75 metres to the south of the Starlight lode
- Both lodes are part of the Break of Day deposit, which lies within the Cue Gold Project in WA
- Reverse circulation (RC) drilling at White Light returned assays grading up to 54.5g/t gold
- Starlight has also continued to return high-grades with gold grading up to 35.8g/t
- The initial RC drilling program is 90 per cent complete and further drilling at White Light will begin next week
- Company shares have dropped 7.62 per cent and are trading for 48.5 cents each
Musgrave Minerals (MGV) has received assays for 12 reverse circulation (RC) drill holes from a new Starlight gold discovery at the Break of Day deposit.
This drilling forms part of an ongoing RC program at the deposit, which forms part of Musgrave’s wholly-owned Cue Gold Project in the Murchison region of Western Australia. So far, 42 RC holes have been completed, with assay results received for 31 holes.
Drilling has continued to confirm the Starlight discovery and has also identified a second high-grade lode 75 metres to the south, striking parallel to Starlight.
This new lode has been named “White Light”. Like Starlight, White Light remains open to the southeast and down dip where drilling is continuing. All intercepts at Starlight and White Light are outside the existing Break of Day resource.
Results from White Light include; six metres at 54.4g/t gold from 211 metres, six metres at 5.4g/t gold from 111 metres, and nine metres at 5.1g/t gold from 21 metres.
Best results from Starlight include; six metres at 35.8g/t gold from 131 metres, and five metres at 7.2g/t gold from 230 metres.
The new mineralised intercepts from Starlight align with previously reported results. These include; 11 metres at 54.0g/t gold from 217 metres, three metres at 38.8g/t gold from 72 metres, and three metres at 13.9g/t gold from 53 metres.
“This is another positive result for the company as we build the high-grade gold resource base at Cue,” Managing Director Rob Waugh said.
Infill drilling at both lodes is continuing and is focused on extending the high-grade gold mineralisation. Drilling will also continue to test for new lodes within the Break of Day and Lena systems.
Outlook
The initial RC drilling program is now 90 per cent complete, with further assay results expected within two weeks, while first assay results from Starlight are expected in four weeks.
Further drilling on the newly discovered White Light lode will commence next week.
Musgrave Minerals is planning to release a resource update for Break of Day, including Starlight and White Light, in quarter three.
Company shares have dropped 7.62 per cent and are trading for 48.5 cents each at 10:10 am AEST.