- Musgrave Minerals (MGV) intersects up to 1040 g/t gold at the White Heat-Mosaic deposit in Western Australia
- Results come from infill and extensional reverse circulation and diamond drilling completed along the Break of Day Trend
- The company says the results show the potential to grow the 982,000-tonne resource and confirm the near-surface and high-grade endowment along Break of Day
- Mineralisation remains open down plunge with additional infill and extensional drilling set to begin this week
- Shares in Musgrave are up 11.5 per cent and are trading at 29 cents at 10:55 am AEST
Musgrave Minerals (MGV) has intersected up to 1040 grams per tonne (g/t) gold at the White Heat-Mosaic deposit within the Cue gold project in Western Australia.
Results come from infill and extensional reverse circulation and diamond drilling completed along the Break of Day trend.
Better extensional results include seven metres at 149.7 g/t gold from 143 metres including one metre at 1040 g/t gold from 143 metres, and 0.5 metres at 365 g/t gold from 115.1 metres.
These results reportedly demonstrate the potential to grow the Break of Day Resource of 982,000 tonnes at 10.4 g/t gold for 327,000 ounces of contained gold.
Further, they confirm the near-surface and high-grade endowment along the Break of Day trend.
Mineralisation remains open down plunge with additional infill and extensional drilling set to begin this week.
Managing Director Rob Waugh said the new results are “very strong”.
“It would be hard to find better results from a recent Australian exploration program and the Cue gold project is fast becoming one of the richest undeveloped high-grade gold deposits in Australia,” he said.
“Drilling continues to turn up new lodes which we will continue to define with further drilling. We are continuing to grow our understanding of the system and the controls on mineralisation.”
Shares in Musgrave were up 11.5 per cent on the market and were trading at 29 cents at 10:55 am AEST.