Musgrave Minerals hits the mark every time the company drills. The latest outcome is high-grade, near-surface gold of up to 114g/t and plenty of new regional targets identified to fill the exploration pipeline.
Musgrave Minerals (ASX:MGV) continues to deliver a steady stream of impressive drilling results for its Cue gold project, putting it on track to deliver a maiden resource for its Waratah prospect in early 2023 and propel its gold inventory through the milestone 1-million-ounce mark.
The latest top hits comprise 4m at 29.9 grams per tonne (g/t) gold from 17m, including 1m at 114g/t from 18m, and 3m at 9.8g/t from 12m.
This new gold mineralisation was discovered east of one of Australia’s highest grade near-surface prospects, Break of Day, along the Waratah trend that is interpreted to extend for over 4km.
Two continuous mineralised zones have been uncovered at the Waratah prospect and combined extend for over 500m. Musgrave is keen to follow this new find up and is pulling together its game plan.
“The new high-grade near-surface gold mineralisation at Waratah is a great early step towards confirming the mineralisation and identifying a maiden resource for this area,” managing director Rob Waugh said.
“The aim is to undertake resource drilling from surface to 80m along the high-grade zones at Waratah, to complete a mineral resource estimate in early 2023.”
That’s just the icing on the cake though, with recent drilling also homing in on some highly prospective regional targets.
This includes four targets along the high-grade Break of Day/White Heat-Mosaic trend and new gold zone located 140m north of the Big Sky prospect which delivered a top intercept of 9m at 3.8g/t from 44m.
Musgrave has also put its foot on a large regional gold target, extending for about 1.3km, east of the Numbers deposit in a previously untested area.
The company plans to follow up all these promising targets with further drilling.
“The regional aircore targets are encouraging and will add to the pipeline of opportunities for the company to continue to grow the resource base at Cue,” Waugh explained.
The total resource inventory for Cue right now stands at 12.3Mt at 2.3g/t for 927,000oz of contained gold.
That includes the Break of Day High-Grade Trend, which currently hosts 982,000oz at 10.4g/t for 327,000oz, and the Moyagee Western Trend containing 9.8Mt at 1.7g/t for 541,000oz.
This article was developed in collaboration with Musgrave Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.