Musgrave Minerals Ltd (ASX: MGV) has received further strong assay results from reverse circulation (RC) drilling at the Big Sky deposit south-west of Lena and Break of Day, on its 100% owned ground at its flagship Cue Gold Project in Western Australia’s Murchison district.
The results are from a combination of infill and extensional drilling and highlight the high-grade and variable grade within the near-surface mineralisation along the Big Sky deposit.
This drilling is the first phase of a larger programme aimed at infilling and upgrading key sections of the Big Sky deposit for future resource updates and conversion from Inferred to Indicated Resource categorisation.
“The latest assay results from infill and extensional resource drilling at Big Sky confirm the potential of the system to host higher grade zones and improves the confidence in the geological continuity of the deposit,” Managing Director Rob Waugh said.
“A significant number of these new drill holes host mineralised intervals well above the current resource grade of the deposit. This is the first phase of a larger program at Big Sky with further drilling due to commence following completion of the current programme at White Heat-Mosaic.
“This drilling will continue to focus on the top 120m of the Big Sky deposit with the aim to convert a significant portion of the near-surface mineralisation to the greater confidence Indicated Resource category.”
Infill and extensional RC drilling at Big Sky, 2km south-west of Lena-Break of Day on MGV’s 100% ground continues to intersect significant gold mineralisation below thin transported hardpan cover (~1-6m thick).
The Cue Project hosts a total Mineral Resource Estimate of 12.3kt @ 2.3g/t Au for 927koz contained gold with 47% of this in the higher confidence Indicated Resource category.
The Big Sky deposit is a subset of this resource and hosts 4.65Mt @ 1.2g/t Au for 173koz contained gold. The deposit is currently modelled to a maximum depth of 150m and remains open.
This recent drilling (55 holes for 4,981m) confirms and enhances the near-surface gold endowment along the Big Sky trend with a significant number of infill holes recording assay values above the resource grade and significant mineralisation identified outside the current Mineral Resource boundary (this drilling is not yet incorporated into the resource estimate).
The current drilling was undertaken at Big Sky to infill and extend the gold mineralisation and convert Inferred resources into the higher confidence Indicated category to de-risk the open cut potential of the deposit.
For further information please visit: https://musgraveminerals.com.au/
