- Musgrave Minerals’ (MGV) most recent assay results from the Big Sky prospect at its Cue Gold Project in Western Australia have more than doubled the strike length of gold mineralisation
- Latest results confirm the regolith gold mineralisation along the new gold corridor extends over 2.6 kilometres, remaining open to the north, south and down dip
- A 10,000-metre reverse circulation (RC) drill program is underway with 26 drill holes completed so far to define the extent of gold mineralisation in basement rock, assay are expected next month
- Follow-up RC drilling has also kicked off at Target 14 to define the basement source of gold anomalism with first assays results also expected in June
- Musgrave shares are trading 8.82 per cent higher today at 37 cents
Musgrave Minerals’ (MGV) most recent assay results from the Big Sky prospect have more than doubled the strike length of gold mineralisation.
Big Sky is part of the Cue Gold Project in Western Australia.
The regional aircore drilling program initially extended regolith gold anomalism in the project area, creating a 1.2-kilometre continuous gold anomaly joining two key targets, Target 5 and Target 20, subsequently renamed the Big Sky prospect.
Now, the latest results confirm the regolith gold mineralisation along the new gold corridor extends over 2.6 kilometres, remaining open to the north, south and down dip.
New intersections included 18 metres at 1.33g/t gold from 36 metres and 12 metres at 0.97g/t gold from 48 metres.
Another significant hit was 24 metres at 1.29g/t from 78 metres to end of hole, which included six metres at 3.8g/t gold from 84 metres.
Managing Director Rob Waugh said the grade, extent and strong continuity of the regolith mineralisation points to a significant mineralised system.
Resamples of previously reported six-metre composite samples from aircore drill holes at Big Sky and Target 14 have returned what the company believes are ‘significant’ results, consistent with the original composites.
At Big Sky, resampling results included 17 metres at 2.47g/t gold from 38 metres and one metre at 10.28g/t gold from 53 metres.
Over at Target 14, results included one metre at 7.6g/t gold from 28 metres and 11 metres at 8.36g/t gold from 66 metres.
Additional resamples from the six-metre composite samples of around 40 regional aircore drill holes from both prospects are expected next month.
Moving forward, the company has begun a 10,000-metre reverse circulation (RC) drill program with 26 drill holes completed so far to define the extent of gold mineralisation in basement rock.
Assays from these drill holes are expected at the start of June and if successful, resource definition drilling will follow.
Follow-up RC drilling has also kicked off at Target 14 to define the basement source of gold anomalism with first assays results also expected in June.
Musgrave shares are trading 8.82 per cent higher today at 37 cents at 2:13 pm AEST.