Musgrave unlocks ‘some of the best’ near-surface, high-grade gold in WA’s Yilgarn
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Western Australia’s Yilgarn may be centuries old but there is still plenty of quality gold left to find as Musgrave Minerals has shown with its latest results from drilling the Mosaic Lode at its Cue project.
The latest round of results from Musgrave Minerals’ (ASX:MGV) drilling of the recently discovered Mosaic Lode continues to show near-surface, high-grade gold, which managing director Rob Waugh describes as “some of the best recent near-surface exploration hits in the Yilgarn”.
The best intercept was 3m at 105.4 grams per tonne (g/t), which was part of a slightly broader intercept of 4m at 79.6g/t from 20m.
“These results from the new Mosaic Lode at White Heat continue to highlight the upside potential of the project,” Waugh noted.
Additional notable hits included 4m at 8.9g/t from 61m, 3m at 6.5g/t from 50m, 2m at 7.8g/t from 92m, and 2m at 5.8g/t from 58m.
These new intersections are outside the existing resource and extend the strike of the Mosaic Lode to around 80m.
This provides a stronger foundation for a larger resource at the Cue project, which already hosts 6.4 million tonnes at 3.2g/t for 659,000 ounces of contained gold.
“We are continuing to grow our understanding of the system and the controls on mineralisation, and have confidence in our ability to grow the mineral resource base,” Waugh explained.
“We are on track to deliver a maiden mineral resource for Big Sky and White Heat-Mosaic in late Q2 2022.”
The Mosaic lode, which is located south of the equally high-grade White Heat prospect, previously delivered a top grade of 381g/t from 74m.
Meanwhile, extensional drilling at the Break of Day deposit has also intersected high-grade gold outside of the existing resource.
The best hits reported included 6m at 4.3g/t from 84m about 20m away from a currently defined lode, 2m at 10.4g/t from 138m to the end of a pre-collar hole in an area poorly drill tested and roughly 80m south of the current Break of Day resource and, 6m at 2.4g/t from 66m in an area not previously drill tested and roughly 100m south of the current resource.
Break of Day is one of the highest-grade near-surface, undeveloped gold deposits in Australia hosting 797,000 tonnes at 10.2g/t for 262,000 ounces of contained gold.
The Yilgarn Craton is a large mineral-rich region around 400km east of Perth that has spawned numerous major mines over the past few centuries and has been described as “Australia’s premier gold and nickel province”.
It accounts for the bulk of WA’s land mass and is not just one single prospective area. It actually covers several different “terranes”, which in turn have their own “belts”.
The Yilgarn Craton runs through the Youanmi, Sandstone, Kalgoorlie, Wiluna and Eastern Goldfields regions of WA.
It hosts major mining operations like Northern Star Resources’ 800,000oz-per-annum Super Pit in Kalgoorlie and Gold Fields’ 250,000oz-per-annum Agnew mine.
Musgrave’s Cue project is itself surrounded by several major gold mines and processing plants including Westgold Resources’ (ASX:WGX) 1-million-ounce (Moz) Bluebird mine, Ramelius Resources’ (ASX:RMS) 6Moz Mt Magnet gold camp and the 4Moz Big Bell mine.
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.