Musgrave Minerals Ltd (ASX: MGV) has reported what it describes as “highly encouraging” assay results from extensional drilling at the Break of Day deposit at the company’s flagship Cue Gold Project in Western Australia’s Murchison district.
The company reported that assays from a single reverse circulation (RC) drill hole to test a target from a revised structural model, intersected 2m @ 9.0g/t Au from 71m down hole in a potential southern extension to the Break of Day deposit.
Musgrave Managing Director Rob Waugh said the intercept is approximately 75m south of the current resource boundary and remains open to the south and down plunge.
“This is an excellent result and demonstrates the upside potential at Break of Day to continue to extend the mineralisation and grow the resource.
Once you are onto a high-grade system it is important to be persistent and continue to test new ideas and concepts. It’s early days, yet a very pleasing result and a credit to all involved.”
The Break of Day deposit has a JORC 2012 Resource of 868Kt @ 7.15g/t Au for 199Koz Au. The Break of Day deposit consists of a number of high-grade gold lodes, with significant potential at depth and along strike to grow the existing resource.
The upside potential is demonstrated by this new shallow high- grade intercept 2m @ 9.0g/t Au and the near surface high-grade intercept intersected in hole 19MORC012 (1m @ 8.0g/t Au from 26m down hole) collared 110m north of Break of Day.
With the results of drill hole 19MORC012 and this latest intercept, gold has now been intercepted at Break of Day over a north-south extent of 475m. Follow-up drilling to test the vertical extent of this latest high-grade intercept is currently being planned.