- Musgrave Minerals (MGV) and joint venture partner Evolution Mining (EVN) receive fresh drill results from the Cue project in WA
- Diamond drilling continues to deliver ‘strong’ basement results, including 4.43 g/t gold over 19 metres, confirming the potential for multiple high-grade basement gold lodes
- Follow-up aircore drilling extended mineralisation at the West Island prospect to more than 2.1 kilometres and returned grades of up to 119.6 g/t gold
- This work has also highlighted new basement targets which will be followed up with further drill testing
- MGV shares are up 1.37 per cent to trade at 37 cents while EVN shares are down 3.18 per cent to trade at $4.42
Musgrave Minerals (MGV) has announced new results from drilling at the Cue project in Western Australia’s Murchison district.
The Cue Project is held in a joint venture (JV) with fellow ASX-lister Evolution Mining (EVN) who’s earning up to a 75 per cent stake in the project and is now the operator.
The diamond and aircore programs are aimed at determining the scale of the gold system at the West Island prospect, test additional gold-in-regolith anomalies and define new diamond drill targets through aircore drilling.
Diamond drill results from the West Island prospect include 2.4 metres at 7.1 g/t gold from 137.9 metres and 19 metres at 4.43 g/t gold from 282 metres in hole 22CUDD001, and nine metres at 6.37 g/t gold from 322 metres in 22CUDD002.
The host of mineralisation at West Island reportedly has similarities to that of the Great Fingall and Golden Crown deposits 25 kilometres north. These high-grade deposits host a combined 4.4 million tonnes at 14.1 g/t gold for two million ounces.
In addition to diamond drilling, aircore drill results extended the large regolith gold mineralisation footprint at West Island to more than 2.1 kilometres and highlighted new basement targets under Lake Austin.
Better results include two metres at 119.6 g/t gold from 174 metres in hole 21MOAC148, which is 500 metres south of current West Island diamond drilling, and two metres at 18.06 g/t gold from 74 metres in a new target area 2.8 kilometres south of West Island.
Looking ahead, the JV partners will continue diamond drilling to test the basement beneath gold mineralisation on Lake Austin and another phase of aircore drilling to identify additional basement targets has commenced.
MGV shares were up 1.37 per cent to trade at 37 cents and EVN shares were down 3.18 per cent to trade at $4.42 at 12:34 pm AEST.