New Find Located 400m South Of Starlight Discovery
Musgrave Minerals Ltd (ASX: MGV) ha intersected high-grade gold at a new target 400m south of Starlightn in its 49 aircore/reverse circulation (RC) regional drilling programme at its flagship Cue Gold Project in Western Australia’s Murchison district.
The programmr is testing for new Starlight analogue targets on trend with the new high-grade Starlight gold discovery at the Break of Day deposit.
A single traverse of drill holes, spaced at 20m intervals was planned as a first pass to test an initial 21 targets.
Managing Director Rob Waugh said Target 2, 400m south of Starlight has intersected high-grade gold near surface in two adjacent holes. The mineralisation is blind from surface, hidden below 2-3m of transported hardpan clays and is open along strike and down dip.
“This is a great start to the regional programme, Mr Waugh said.
“Any significant gold anomalism on these new targets is encouraging but to get these high-grades from this reconnaissance program is a very exciting result.
“We’re currently planning further follow-up drilling to commence in late October.”
To date a total of 220 aircore/RC holes have been completed in the regional program with assays received for 49 holes across five targets.
This regional aircore/RC drill program to test for Starlight analogues in the belt is progressing well and has been extended to >17,000m. To date, an estimated 12,000m of drilling over 16, of a planned 21 targets has been completed. Further assays are expected in coming weeks.
The programme is testing targets derived from geophysical, geochemical and geological data and is focused on the potential for high-grade gold mineralisation on structures cross-cutting stratigraphy similar to that seen at Starlight.
The current resource estimate for the Cue Gold Project totals 6.45Mt @ 3.0g/t Au for 613kozincluding the Break of Day deposit (868Kt @ 7.2g/t Au for 199koz contained gold) and the Lena deposit (4.3Mt @ 2.3g/t Au for 325koz contained gold) located 130m to the west.
This current resource estimate does not include any results from the new Starlight and White Light gold discoveries. The updated resource estimate incorporating these results is scheduled for late October 2020.
