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Musgrave Minerals Ltd (MGV.AX) High-grade Gold Intersected in First RC Holes at White Heat

·3-min read
Musgrave Minerals Ltd
Musgrave Minerals Ltd

Musgrave Minerals Ltd (MGV.AX) High-grade Gold Intersected in First RC Holes at White Heat

Perth, Australia, Feb 1, 2021 - (ABN Newswire) - Musgrave Minerals Ltd (ASX:MGV) (HAM:6MU) is pleased to report strong reverse circulation ("RC") assay results from the newly discovered White Heat prospect on its 100% owned ground at its flagship Cue Gold Project in Western Australia's Murchison district (Figure 1*).

Musgrave Managing Director Rob Waugh said: "This is a great result from the first four RC holes at the new White Heat prospect and demonstrates the exploration upside of the tenement package. The gold is high-grade and near surface but masked from previous explorers by 2-3m of transported hardpan clays. Drilling is ongoing at White Heat which is only 400m south of the new Starlight lode."

White Heat Prospect

Initial RC drilling at White Heat (formally Target 2*) has identified high-grade gold in two basement zones (Figure 3*). Two zones of gold mineralisation are interpreted from early drilling with both zones open along strike and at depth. Nine RC drill holes have been completed to date with assays received for the first four holes (Tables 1a and 1b*). Drill holes are spaced at 40m intervals along 20m spaced traverse lines. Significant intercepts from 1m individual samples include:

- 6m @ 15.3g/t Au from 38m (21MORC001) including;
o 3m @ 28.8g/t Au from 38m

- 9m @ 7.1g/t Au from 60m (21MORC002) including
o 2m @ 28.7g/t Au from 60m and

- 4m @ 43.2g/t Au from 98m (21MORC002) including;
o 2m @ 83.9g/t Au from 98m

- 6m @ 7.4g/t Au from 35m (21MORC003) including;
o 2m @ 18.8g/t Au from 35m

- 5m @ 8.8g/t Au from 40m (21MORC004)

The mineralisation has a similar orientation to the Starlight lode, located 400m to the north, (Figure 2*) and is hosted within a basalt package thought to be the same stratigraphy as that hosting Starlight. The mineralisation is currently open along strike and at depth with further drilling underway.

Drill holes are spaced at 40m intervals along 20m spaced traverse lines. A combination of 6m composites and 1m individual samples have been analysed from the RC holes drilled in the current program with details presented in Tables 1a and 1b. All intervals assaying above 1g/t have been reported in this release.

The regional aircore drilling program that identified White Heat has also identified high-grade gold at five other targets. These targets will also be tested with RC drilling during the current program.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/L8MYJ40I


About Musgrave Minerals Ltd:


Musgrave Minerals Ltd (ASX:MGV) is an active Australian gold and base metals explorer. The Cue Project in the Murchison region of Western Australia is an advanced gold and copper project. Musgrave has had significant exploration success at Cue with the ongoing focus on increasing the gold and copper resources through discovery and extensional drilling to underpin studies that will demonstrate a viable path to development in the near term. Musgrave also holds a large exploration tenement package in the Ni-Cu-Co prospective Musgrave Province in South Australia.

Contact:

Rob Waugh
Managing Director
Musgrave Minerals Limited
+61 8 9324 1061

Luke Forrestal
Associate Director
Media and Capital Partners
+61 411 479 144

Source:
Musgrave Minerals Ltd

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