Musgrave Minerals uncovers more positive gold results at Big Sky and Target 14 during Cue Project exploration

Musgrave Minerals Ltd (ASX:MGV) (OTCMKTS:MGVMF) (FRA:6MU) has uncovered more positive gold intersections during reverse circulation (RC) drilling at the Cue Gold Project in Western Australia’s Murchison district.

Currently, the precious metals explorer is working across the project’s Big Sky and Target 14 prospects with a first-pass exploration program.

Promisingly, the latest assays from drilling at Big Sky have revealed as much as 48 metres at 1.1 g/t gold from 42 metres, including 6 metres at 4.4 g/t from 66 metres, while Target 14 has produced up to 6 metres at 3.9 g/t from 24 metres.

The work forms part of a broader 15,000-metre exploration program, aiming to define the extent of gold mineralisation in the regolith and basement rock at Cue.

So far, more than 118 reverse circulation drill holes have been executed, while Musgrave is waiting on results for more than 75 holes completed across Big Sky and Target 14 prospects.

Targets deliver more positive results

Musgrave Minerals managing director Rob Waugh said RC drilling continued to return positive results at both the Big Sky and Target 14 prospects, with assay results for a further 19 RC holes now received.

“It’s still early days, but results continue to be very positive. These two target areas are 800 metres apart and on the same structure. This 800-metre gap is currently being drill tested.

“A 1.2-kilometre-long zone to the south of Big Sky will also be drill tested in the coming weeks. The company currently has four drill rigs on site.

“Results have only been received for broad-spaced drilling at Big Sky (100-metre to 200-metre spaced holes) with assays received for generally only single RC drill holes on most traverses.

“Drill traverse line spacing is being infilled within higher grade areas with multiple drill holes on each traverse either drilled or planned.

“Unfortunately, assay turnaround is slow at present with gold results awaited for more than 75 RC drill holes with the numbers growing daily.

“We look forward to updating the market with further strong results as assays are received.”

Big Sky

Cue’s Big Sky prospect continues to show promise, with results from 12 more RC holes drilled at the target reported.

Apart from the 48-metre result, other new intersections from Big Sky include:

• 6 metres at 4.5 g/t from 108 metres;
• 12 metres at 1.9 g/t from 84 metres and;
• 12 metres at 1.9 g/t from 108 metres.

Situated just 800 metres south from Target 14, the prospect hosts a 2.6-kilometre-long gold anomaly, which remains open to the north and south.

Ultimately, the extensive nature and continuity of the gold mineralisation supports the view that the Big Sky Prospect has the potential to add to the company’s existing resource base at Cue.

Target 14

Meanwhile, over at Cue’s Target 14 prospect, assays for seven more drill holes have now been received.

Along with the 6-metre result, the prospect also returned 18 metres at 1.2 g/t gold from 42 metres.

The prospect’s anomalous gold is defined over 300 metres of continuous strike, where it remains open to the south.

One-metre samples from anomalous gold composites have been submitted for individual analysis, with results expected between August and September.

Plan showing Target 14 prospect, drill hole collars and new assay results.

Resampling results

In today’s drilling update, Musgrave also detailed the results from resampling work at Cue’s Numbers and White Heat prospects.

Situated just 3.5 kilometres from the project’s Break of Day deposit, the Numbers prospect boasts a 278,000-tonne inferred resource, grading 2.46 g/t for 22,000 gold ounces.

Interestingly, Musgrave believes that Numbers could be a satellite pit to a larger development at the Break of Day and Lena deposits.

So far, one-metre resamples of previously reported six-metre composites from 22 resource definition RC drill holes at the Numbers prospect have confirmed the results from the six-metre composite sampling.

Overall, the ASX-lister intends to upgrade the resource estimate at Numbers to the higher confidence indicated category.

Meanwhile, at the White Heat prospect, one-metre resamples of the six-metre composites from RC drilling have confirmed previously reported high-grade gold mineralisation.

The high-grade shoot at White Heat has a strike extent in fresh rock of up to 80 metres and has only been drilled to a maximum depth of around 120 metres.

To date, three diamond drill holes have been completed at White Heat, aimed at confirming the RC drill results, with assays still pending.

Ongoing activities

As it continues to explore its 100%-owned tenements, Musgrave intends to push ahead with follow-up RC drilling at Big Sky and Target 14, with further assays anticipated next month.

The ASX-listed gold explorer will also complete one-metre resamples across six-metre composites from around 45 RC holes drilled at the prospects.

Simultaneously, Musgrave is conducting work to progress pre-feasibility level studies at the Break of Day and Lena deposits.

Finally, exploration is also underway at Cue’s West Island prospect — a gold target within the Lake Austin tenement area, part of which Musgrave is developing under an earn-in and joint venture agreement with Evolution Mining Ltd (ASX:EVN).

So far, follow-up diamond drilling at West Lake has recommenced, while another phase of aircore drilling has also kicked off at Lake Austin to define additional targets for basement diamond drill testing.

Story by ProactiveInvestors