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Musgrave Minerals Ltd (ASX:MGV) Quarterly Activities & Cashflow Report
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Musgrave Minerals Ltd (ASX:MGV) (FRA:6MU) (OTCMKTS:MGVMF) is dedicated to building a sustainable and profitable gold mining business driven by exploration and development success.
Cue Gold Project (100% MGV)
- Total Mineral Resources at the Cue Gold Project have grown 41% to:
o 12.3Mt @ 2.3g/t Au for 927koz of contained gold
- Included in this resource update are maiden mineral resources for the White Heat-Mosaic and Big Sky deposits.
- With the addition of White Heat-Mosaic (185kt @ 11.0g/t Au for 65koz gold), Mineral Resources within the highgrade, near-surface Break of Day Trend now host:
o 982kt @ 10.4g/t Au for 327koz of contained gold
- The maiden Mineral Resource at Big Sky contains:
- 4.65Mt @ 1.2g/t Au for 173koz of contained gold
- With the addition of Big Sky the total resources along the Western Trend are:
o 9.8Mt @ 1.7g/t Au for 541koz of contained gold
- Updated Mineral Resource estimates have also been completed for all satellite deposits to comply with JORC 2012 reporting standards
- Extensional and infill drilling is continuing at White HeatMosaic and Big Sky to de-risk the higher margin, open pittable zones within these deposits
Regional Exploration Drilling (100% MGV)
- Regional exploration drilling is continuing, with aircore and RC drilling assays pending for multiple new target areas
- New Amarillo RC drill hole intersections include:
o 3m @ 14.6g/t Au from 60m (22MORC088) o 17m @ 2.5g/t Au from 18m (22MORC094) o 12m @ 2.0g/t Au from 47m (22MORC078)
Evolution JV
- Diamond drilling continued at West Island returning basement gold intercepts of:
o 2.0m @ 66.0g/t Au from 438m (22CUDD008) o 3.5m @ 16.2g/t Au from 366m (22CUDD007)
Corporate
- Musgrave appointed experienced mining engineer Anthony Buckingham as General Manager - Development *To view full Quarterly Report, please visit: https://abnnewswire.net/lnk/0OWY8Y5X
Rob Waugh
Managing Director
Musgrave Minerals Limited
+61 8 9324 1061
Luke Forrestal
Associate Director
Media and Capital Partners
+61 411 479 144
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