Musgrave’s Christmas stocking will be brimming with high-grade gold this year

With less than two weeks to go until Christmas, the momentum hasn’t waned for Musgrave after even more near-surface, high-grade gold was uncovered in drilling at the Big Sky prospect, putting the company in a great spot to grow its resource in the New Year.

Musgrave Minerals (ASX:MGV) revealed today that infill drilling at Big Sky, part of the very gold-rich Cue project in WA, intersected high grades of up to 42.8 grams per tonne (g/t) gold from 27m, with some of the high grade gold starting from surface.

Headline hits included 1m at 42.8g/t from 27m, 4m at 20.4g/t from 37m along with a broader 25m at 1g/t from 65m to the end of the same hole, 3m at 11.5g/t from 26m, 2m at 12.3g/t from 39m, 3m at 9.5g/t from 9m, and 2m at 9.6g/t from surface.

The continuation of high-grade results from reverse circulation (RC) drilling sets Musgrave up nicely to deliver its very first resource for the Big Sky prospect in the second quarter of 2022.

Managing director Rob Waugh said the latest drilling results confirmed the potential for high-grade zones at Big Sky.

“Resource RC drilling will recommence in the new year at Big Sky,” he said.

“The RC rig moved to White Heat to follow-up the very high-grade result (15m at 111.6g/t gold) announced on 1 December in a new lode position.

“The company currently has four drill rigs on site, including two diamond rigs, and is working towards a maiden Big Sky resource focusing on the top 120m from surface, in late Q2 2022.”

Musgrave has so far defined the Big Sky gold zone over 2.6km of strike and the mineralisation remains open down dip, providing more exploration blue sky.

The Big Sky prospect sits about 2km southwest of Break of Day, which 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.

Earlier in December, drilling at the Cue project identified new gold zones and returned more bonanza grades.

A new target about 80m south of the White Heat prospect intersected two new parallel lodes that returned a top hit of 15m at 111.6g/t gold from 25m, including 5m at 313.4g/t from 26m from hole 21MORC232.

The new discoveries at the Big Sky and White Heat prospects are outside the existing resource areas, providing Musgrave with confidence it will be able to build a bigger resource inventory at its Cue project.

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.