- Musgrave Minerals (MGV) has intersected more than 498 grammes per tonne gold from the new Starlight gold discovery at the Break of Day deposit
- Break of Day is located at the company’s flagship Cue Gold Project, which is situated in Western Australia’s Murchison District
- This bonanza result comes from a reverse circulation drilling program that is 80 per cent complete
- At this stage, drilling is ongoing and diamond drilling will kickstart at Starlight this week
- A resource update for the Break of Day deposit, including Starlight, is scheduled for late in the third quarter of 2020
- Musgrave shares have skyrocketed 47.9 per cent in mid-morning trade and are currently selling for 35.5 cents each
Musgrave Minerals (MGV) has intersected up to 498.2g/t gold from the new Starlight gold discovery at the Break of Day deposit.
Break of Day is located at the company’s flagship Cue Gold Project, which is situated in Western Australia’s Murchison District.
This bonanza intercept comes from a recent reverse circulation (RC) drilling program that aims to infill and extend the Starlight lode.
This RC program is approximately 80 per cent complete, and results have been received for an extra 19 holes, with further results expected in the next two weeks.
Significant results include 42 metres at 77.3g/t gold from 30 metres, including 18 metres at 179.4g/t gold from 30 metres, and the all-important six metres at 498.2g/t gold from 36 metres.
All intersections from these holes sit close to the current resource at Break of Day, which hit 868,000 tonnes at 7.2g/t gold for 199,000 ounces of contained gold.
“These are amazing gold grades to see in near-surface drilling. Our deepest holes to date are still in high-grade mineralisation at 200 vertical metres where Starlight remains open down dip,” Managing Director Rob Waugh said.
“The bonanza grades near-surface will have a significant positive impact on future development at Break of Day,” he added.
Musgrave will now focus on a diamond drilling program at Starlight to test the depth extensions of the mineralisation. This is scheduled to begin this week.
A resource update for the Break of Day deposit, including Starlight, is scheduled for late in the third quarter of 2020.
Musgrave shares have skyrocketed 47.9 per cent in mid-morning trade and are selling for 35.5 cents each at 10:28 am AEST.