Musgrave Minerals (ASX:MGV) continues to intersect very high grades of gold at its flagship Cue Project in WA’s Murchison region, with recent RC drilling returning up to 118g/t gold at the Amarillo Prospect.
Highlights:
- Top hits include 7m at 23.7g/t from 102m, including 1m at 118g/t from 107m.The latest drill results are all outside of the current resource and have the potential to further grow the gold resource base.
- The Amarillo Prospect is approximately 800m south-west of the White Heat-Mosaic discovery and 800m north of Big Sky.
- Two parallel lodes have been identified at Amarillo with a combined strike of approximately 400m and the mineralisation remains open down dip.
- Resource definition drilling at Amarillo is currently being planned with a maiden resource estimate likely in late 2022.
This is another series of good results and further confirmation that our exploration methodology at Cue is very effective,” Managing Director, Rob Waugh, said.
“Further infill drilling is planned at the new Amarillo discovery to support a maiden Mineral Resource Estimate that will likely be completed in late 2022. The Resource Estimates for White Heat-Mosaic and Big Sky are progressing with the further receipt of drill results awaited and will be announced on completion late next quarter.”
All drilling to date at Amarillo has focused on the top 100m within a deep regolith (weathering) profile. Two parallel gold lodes striking north south and dipping sub-vertically have been identified to date at Amarillo.
The lodes have an individual strike lengths of approximately 100m (western lode) and 300m (eastern lode) giving a combined strike of ~400m.
The western lode has very limited drill testing. Both lodes remain open down dip.
Further follow-up drilling is currently being planned with the aim to define an initial maiden mineral resource estimate at Amarillo by late in 2022.
The Cue Gold Project is located approximately 30km south of the township of Cue in the Murchison district of Western Australia.
The current resource estimate for the Cue Gold Project totals 6.4Mt @ 3.2g/t Au for 659koz including the Break of Day deposit (797kt @ 10.2g/t Au for 262koz contained gold) and the Lena deposit (4.3Mt @ 2.3g/t Au for 325koz contained gold).
The Lena and Break of Day deposits are only 5km from the Great Northern Highway, approximately 600km north of Perth. The new gold discoveries at Amarillo, White Heat-Mosaic and Big Sky are all outside the existing mineral resource areas. An updated resource estimate is for Big Sky and White Heat-Mosaic is scheduled for late Q2, 2022.
