Musgrave Minerals Ltd (ASX:MGV) (FRA:6MU) has received further strong gold results of up to 3 metres at 26.4 g/t from 32 metres at White Heat prospect within the high-grade Cue Gold Project in Western Australia.
The newly discovered prospect, 300 metres south of Break of Day, remains open down plunge with assays pending for a further 10 drill holes, comprising targets 5, 14 and 10. These are expected in late March.
“Great set of results”
Managing director Rob Waugh said: “This is another great set of results from the White Heat discovery which shows a steep westerly plunge to the high-grade shoot.
“The proximity to Break of Day would provide strong synergies for potential future development.
“Drilling is ongoing with two rigs on site and further assay results expected in coming weeks from White Heat and other regional targets”.
Other notable intersections include:
- 3 metres at 22.5 g/t from 60 metres;
- 3 metres at 11.8 g/t from 43 metres;
- 4 metres at 5.7 g/t from 16 metres; and
- 1 metre at 22.5 g/t from 32 metres.
The regional aircore drilling program that identified White Heat has also identified high-grade gold at five other targets.
Follow-up drilling underway
Follow-up aircore drilling to extend the mineralised footprint at targets 5, 20, 14 and 15 is underway.
A large regional aircore drilling program to define the extent of gold anomalism over existing targets has begun and work for the pre-feasibility study at Break of Day and Lena is also underway.
The current resource estimate for the Cue Gold Project totals 6.4 million tonnes at 3.2 g/t for 659,000 ounces.
This includes the Break of Day deposit with 797,000 tonnes at 10.2 g/t for 262,000 ounces of contained gold and the Lena deposit with 4.3 million tonnes at 2.3 g/t for 325,000 ounces 130 metres to the west of Break of Day.
Meanwhile, diamond drilling of regolith gold anomalies on the Lake Austin JV with Evolution Mining Ltd (ASX:EVN) is underway.