- Musgrave Minerals (MGV) strikes up to 14.6 grams of gold per tonne at the Amarillo Prospect within its flagship Cue gold project
- The company reported the high-grade gold results following reverse circulation drilling at the prospect in Western Australia’s Murchison district
- The new intersections were found outside the current mineral resource estimate boundaries and host the potential to further grow the resource base at Cue
- Further drilling is scheduled to continue, with a maiden mineral resource estimate anticipated to be released in early 2023
- Musgrave Minerals last traded at 26 cents on June 28
Musgrave Minerals (MGV) has struck up to 14.6 grams of gold per tonne at the Amarillo Prospect within its flagship Cue gold project in Western Australia.
The company reported further high-grade gold results following reverse circulation drilling at the prospect, located within WA’s Murchison district.
Assays returned included three metres at 14.6 grams of gold per tonne (g/t) from 60 metres, and 17 metres at 2.5 g/t gold from 18 metres.
The new intersections were found outside the current mineral resource estimate boundaries. Musgrave said these assays have the potential to further grow the resource base at Cue, which currently sits at 927,000 ounces of gold.
“These results further confirm that our exploration methodology at Cue is continuing to deliver,” Musgrave Managing Director Rob Waugh said.
Additionally, early stage aircore drilling to the north of Amarillo identified near surface regolith gold occurrences.
“This target area is an extension of the dolerite unit that hosts the high-grade West Island gold mineralisation on the Evolution JV to the north,” Rob Waugh said.
The company has now made plans to reverse circulation drill test these new targets in July, with a maiden mineral resource estimate likely to be delivered in early 2023.
Musgrave Minerals last traded at 26 cents on June 28.