- Musgrave Minerals (MGV) receives strong assay results from drilling at its Big Sky prospect from its Cue Gold Project in WA
- Reverse circulation drilling along the new gold corridor at its wholly owned flagship project identifies thick regolith gold mineralisation, with best results including include 84 meters at 1.4 g/t gold from 24 metres
- The company says reverse circulation drilling will continue, with assay results pending for a further 50 holes
- Musgrave Minerals last traded at 36 cents on 17 June
Musgrave Minerals (MGV) has received strong assay results from drilling at its Big Sky prospect from its Cue Gold Project in WA.
Reverse circulation drilling along the new gold corridor at its wholly owned flagship project identified thick regolith gold mineralisation within the extensive 2.6-kilometre-long aircore gold anomaly.
Best results include 84 meters at 1.4 g/t gold from 24 metres, including 12 metres at 6.6 g/t gold from 66 metres.
The company says these thick intervals indicate the potential for a large gold system with discrete zones of high-grade mineralisation along more than 2.6 kilometres of strike.
The gold mineralisation remains open to the north and south, plus down dip.
The company says reverse circulation drilling will continue, with assay results pending for a further 50 holes.
“The RC drilling has confirmed the potential for significant gold mineralisation at Big Sky and the possibility of a number of higher-grade zones within the broader anomalous trend,” said Musgrave Minerals Managing Director Rob Waugh.
“The near surface nature of the oxide, regolith gold mineralisation is expected to be favourable for open-cut mining.
“Regional drilling will continue with the aim of defining discrete higher-grade zones for resource definition.”
Diamond drilling at Big Sky is also scheduled to begin this week.
Musgrave Minerals last traded at 36 cents on 17 June.