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- Musgrave Minerals (MGV) identifies a potential new high-grade lode at its flagship Cue gold project in Western Australia
- The company says recent reverse circulation drilling just north of the Break of Day corridor struck a four-metre zone at 8.2 grams per tonne gold from 50 metres
- This drilling work, which was completed in December 2022, also intersected gold in multiple other prospects across the Break of Day system
- MGV says more drill testing is required to confirm the strike and dip extent of the new zone
- Shares in Musgrave Minerals are up 2.94 per cent to 17.5 cents at 11:19 am AEDT
Musgrave Minerals (MGV) has identified a potential new high-grade lode at its flagship Cue gold project in Western Australia.
The company has received assay results from reverse circulation (RC) drilling completed across multiple prospects in December 2022.
The drilling identified a potential new lode roughly 50 metres north of the Break of Day corridor in the Cue area with a potential strike of up to 100 metres.
A single drill hole testing the new target zone intersected four metres at 8.2 grams per tonne (g/t) gold from 50 metres within 14 metres at 2.8 g/t gold from 50 metres.
The new lode is hosted within the high-titanium basalt in the area, which Musgrave said was a known favourable stratigraphic host at Break of Day.
“The intersection north of Break of Day may represent a new, untested high-grade lode and demonstrates the ongoing discovery opportunity within this system,” Musgrave Managing Director Rob Waugh said.
“This is a positive result as it bodes well for further discovery upside within the favourable Break of Day stratigraphic package.
“More drill testing is required to confirm the strike and dip extent of this new lode.”
Musgrave has scheduled follow-up reverse circulation drilling at the new Break of Day North mineralisation to begin in three weeks.
Meanwhile, extensional reverse circulation results were received for other prospects within the Break of Day system, including the White Heat-Mosaic, which returned four metres at 5.2 g/t gold from 29 metres.
At the White Light Lode, MGV struck two metres at 34.7 g/t gold from 84 metres, including one metre at 64.3 g/t gold from 84 metres, extending the White Light Lode roughly 20 metres southeast from the mineral resource boundary.
The company will launch a new regional aircore drilling program in late February to focus on further target areas at Cue.
Shares in Musgrave Minerals were up 2.94 per cent to 17.5 cents at 11:19 am AEDT.
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