- Musgrave Minerals (MGV) intersects gold mineralisation and identifies a new mineralised trend at its Cue project in Western Australia’s Murchison district
- Dubbed the Waratah trend, the company says three new mineralised gold targets have been identified through broad 200 metre spaced drilling
- The company says reverse circulation (RC) drilling at the nearby Amarillo prospect has returned high-grade gold including nine metres at 8.7 g/t from 44 metres
- Basement follow-up drilling at Amarillo will be planned for late January
- Shares have been down 1.5 per cent trading at 33.5 cents
Musgrave Minerals (MGV) has intersected gold mineralisation and identified a new mineralised trend at its Cue project in Western Australia’s Murchison district.
Dubbed the Waratah trend, the company says three new mineralised targets have been identified through broad 200 metre spaced drilling. According to the company significant intersections include two metres at 28.1 g/t gold from 78 metres and one metre at 53.2 g/t gold from the same 78 metres. Twenty-seven reverse circulation (RC) drill holes were drilled to test this new corridor.
The company says the new gold mineralisation is near surface, defined in three prospective zones and remains open down dip. It says the newly drilled intersections sit outside the mineral resource estimates with further infill required.
Meanwhile, follow up RC drilling at the nearby Amarillo prospect, previously named Target 14, has returned high-grade gold including nine metres at 8.7 g/t gold from 44 metres. Basement follow up drilling at Amarillo will be planned for late January.
Shares were down 1.5 per cent trading at 33.5 cents at 10.45 am AEDT.