- Drilling at Musgrave Minerals’ (MGV) Big Sky prospect intersects ‘bonanza’-grade gold of up to 898g/t within a broader intercept of 28 metres at 35.9g/t gold
- Drilling is testing the continuity, grade and down-dip extent of mineralisation at Big Sky which lies within the Cue gold project in WA
- New high-grade results have also been returned from a newly-identified dolerite host unit and MGV says dolerites are one of the most prolific host lithologies for large deposits
- Managing Director Rob Waugh says this is a “very good result” and it highlights the high-grade potential at Big Sky over the broader 2.6 kilometres of strike
- Shares in Musgrave Minerals were up 5.33 per cent to 39.5 cents at 11:15 am AEDT
Musgrave Minerals (MGV) has received more results from drilling at the Big Sky prospect, which is part of its Cue gold project in Western Australia.
Infill resource definition and reverse circulation (RC) drilling is testing the continuity, grade and down-dip extent of mineralisation at Big Sky which is located about two kilometres southwest of the highly prospective Break of Day prospect.
Significantly, drilling has intersected a ‘bonanza’ gold grade of 28 metres at 35.9 grams of gold per tonne (g/t) from 49 metres, including one metre at 898g/t gold.
Further to this result, new drill holes continued to identify strong gold mineralisation and some of these new high grades are within a newly-identified dolerite host unit in the footwall of previous results.
Footwall intercepts include seven metres at 8.6g/t gold from 43 metres, including one metre at 55.2g/t gold from 44 metres, and three metres at 13.2g/t gold from three metres.
“This is a very good result and highlights the highgrade potential at Big Sky over the broader 2.6 kilometres of strike,” Managing Director Rob Waugh said.
“The identification of a new dolerite hosted zone in the footwall of Big Sky is also a positive. This could be the southern extension of the same dolerite unit identified to the north on the Evolution joint venture. Gold can be hosted in many different rock types on the Yilgarn but dolerites are one of the most prolific host lithologies for large deposits.”
Musgrave will continue resource definition drilling at the Big Sky prospect along with infill drilling at Target 14. The company expects further assay results in late November ahead of delivering a maiden mineral resource estimate in the second quarter of 2022.
Shares in Musgrave Minerals were up 5.33 per cent to 39.5 cents at 11:15 am AEDT.