Musgrave Minerals extends White Light lode and identifies potential new parallel zone

Musgrave Minerals Ltd (ASX:MGV) has received further strong results for the remaining reverse circulation (RC) and diamond drill holes at the new Starlight and White Light gold discoveries at Break of Day, on the company’s flagship Cue Gold Project in Western Australia’s Murchison district. RC drilling intercepts at White Light have extended the mineralisation below 260 vertical metres where it remains open down plunge, with results including: 2 metres at 17.7 g/t gold from 198 metres; 2 metres at 11.8 g/t from 227 metres; and 0.5 metre at 60.1 g/t from 308.5 metres. Musgrave managing director Rob Waugh said: “These are further excellent drill results from the White Light lode which is continuing to grow.” Further drilling at Starlight has also returned encouraging intercepts including: 2 metres at 13.7 g/t from 178 metres; and 12 metres at 4.2 g/t from 5 metres extending the near surface mineralisation to the west. Potential parallel lode To the south of the White Light lode, the southern-most drill hole intersected gold mineralisation that does not align with any historical intercepts or known occurrences and may represent new gold lodes. Results included: 4 metres at 3.3 g/t from 112 metres; 3 metres at 3.4 g/t from 150 metres; and 1 metre at 11.4 g/t from 179 metres. Waugh said: “Importantly, the potential for further untested gold lodes has been identified in this recent drilling with new zones intersected to the south and parallel to the White Light lode. “It is early days but these new zones have the potential to add further resource ounces at Break of Day. “Additional drilling is currently being planned to test these positions.” Cross-section of Starlight, White Light and potential new parallel gold lodes at Break of Day. Regional step out drilling The regional 12,000-metre aircore/RC drill program to test for Starlight analogues in the belt is progressing well. To date around 11,000 metres of drilling over 12 of a planned 18 targets has been completed with first assays expected in October. Waugh said: “The regional step out aircore/RC drill program is also progressing well with the focus on making additional high-grade gold discoveries in the belt. “All of these targets provide significant upside potential.” Break of Day resource update The current resource estimate for the Cue Gold Project totals 6.45 million tonnes at 3.0 g/t gold for 613,000 ounces, including the Break of Day deposit (868,000 tonnes at 7.2 g/t gold for 199,000 ounces contained gold) and the Lena deposit (4.3 million tonnes at 2.3 g/t gold for 325,000 ounces contained gold). This resource estimate does not include any results from the new Starlight and White Light gold discoveries. The maiden resource for these lodes will be incorporated into the resource update for Break of Day, which is expected in late October, 2020.