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Musgrave Minerals Announces Assay Results

Mining News - Published on Wed, 04 Sep 2019

Image Source: musgraveminerals.com.au
Musgrave Minerals Ltd reported highly encouraging assay results from drilling at the Lena deposit and the initial drilling at the Mainland Prospect, both part of the Company's flagship Cue Gold Project in Western Australia's Murchison district. Refer to link the bottom for the release for tables and figures. Assays from the first reverse circulation holes drilled in the current program at Lena have been received, as have the first assays from Musgrave's maiden drilling program at Mainland, a recently acquired tenement holding that has produced abundant alluvial gold but where only minimal basement exploration has been conducted. The Lena deposit has an existing JORC 2012 resource of 2,682kT @ 1.77g/t Au for 153koz Au which is only estimated to a maximum vertical depth of 160m at Lena Main lode. The Lena deposit consists of a number of gold lodes, with some having significant high-grade potential at depth below the existing resource, as demonstrated by these new assay results. Diamond drilling has commenced at Lena to test for further extensions to the mineralisation below the existing resource.

Mr Rob Waugh MD of Musgrave said that "These are exciting results at Lena and Mainland. At Mainland, the initial program has returned strong results and further drilling is planned. The upside at Lena is significant with drilling confirming high-grade gold mineralisation below the existing resource that remains open. Our reinterpretation of the geology and shoot control has highlighted the excellent potential to extend the current Lena resource and we look forward to further strong results as drilling continues."

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Posted By : Rabi Wangkhem on Wed, 04 Sep 2019
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