Australia

Musgrave Minerals hits 45 metres at 11.8 g/t gold in new link area of Cue project

Musgrave Minerals Ltd (ASX:MGV) has hit a new high-grade link-lode in drilling at Break of Day within the Cue Gold Project in Western Australia, including an intersection of 45 metres at 11.8 g/t gold.

A reverse circulation (RC) program of six holes for 786 metres has intersected high-grade gold in a link position joining the two main Twilight and Velvet gold lodes at Break of Day.

This program has extended high-grade gold mineralisation to the south and has the potential to add upside to the high-grade Break of Day gold resource.

As well as the 45-metre intersection from 144 metres, drill hole 19MORC037 intersected 23 metres at 16.2 g/t from 166 metres.

Within the 45-metre hit was 11 metres at 14.0 g/t from 144 metres which, in turn, included 5 metres at 29.2 g/t from 150 metres.

Cross-section at Break of Day showing the new high-grade link-lode

Managing director Rob Waugh said: “Drill hole 19MORC037 was drilled to test a new hypothesis and structural interpretation and is a fantastic high-grade result for Break of Day on intersecting a potential new link-lode.

“This result opens numerous possibilities and opportunities to discover additional lodes and grow the Break of Day resource.

“Break of Day continues to deliver consistent high-grades and a few nice surprises.”

Shares have been up as much as 15% to an intra-day high of 9.2 cents, up from 6.8 cents on November 26.

Drill hole 19MORC037 was drilled to confirm a high-grade thicker section of the Break of Day system as well as to test a new structural interpretation and identified a quartz linking structure and gold lode.

Hole 19MORC031 was drilled 35 mRead More – Source