Musgrave Minerals infill drilling confirms high-grade Break of Day gold with results up to 3 metres at 40 g/t

Musgrave Minerals Ltd (ASX:MGV) has received strong assay results of up to 3 metres at 40 g/t from 83 metres in recent infill drilling at Break of Day at the flagship Cue Gold Project in Western Australia’s Murchison district. The 18 reverse circulation (RC) drill holes confirmed several near-surface extensions to the high-grade gold mineralisation on the Twilight and Velvet gold lodes. Other highlights include 3 metres at 20.8 g/t from 79 metres, 2 metres at 13.3 g/t from 39 metres and 3 metres at 9.2 g/t from 44 metres. Potential new lode Drilling has also identified additional intercepts around 60 metres north of Starlight that do not align with the existing geological model and may reflect a potential new lode. Managing director Rob Waugh said: “These are encouraging results and confirm the near-surface gold potential on the Twilight and Velvet gold lodes. “The identification of high-grade results outside the existing Twilight and Velvet geological model increases the upside potential and the possibility of additional, previously unidentified lodes being discovered.” High-grade intersections The infill drilling was intended to identify shallow extensions to the existing gold lodes and improve the confidence in the geological model. Other high grades intersected near-surface at Twilight and Velvet lodes included: 9 metres at 3.1 g/t from 30 metres; 9 metres at 5.6 g/t from 106 metres including 2 metres at 16 g/t from 110 metres; and 2 metres at 5 g/t from 15 metres. Plan showing surface projection of gold lodes at Break of day, drill collars and recent assay results. The drilling north of the Starlight lode returned: 5 metres at 13.8 g/t from 63 metres including, 2 metres at 32.8 g/t from 63 metres; and 1 metre at 18.5 g/t from 45 metres. Musgrave believes these intersections may reflect possible new lodes and further follow-up drilling is being planned to test this position. Ongoing exploration Regional phase one aircore/RC drilling of the Starlight analogue targets within the belt is continuing. Drilling on 10 of a planned 18 targets is now complete, with first assays expected in October. Further assay results from RC and diamond drilling on the Starlight and White Light lodes at Break of Day are expected soon. Updated resource estimate pending Due to Musgrave extending the drilling program and a significant sample backlog at the laboratory, the updated Break of Day resource estimate, including Starlight and White Light lodes, is now expected in late October to allow time for all assays to be received. The resource estimate for the Cue Gold Project totals 6.45 million tonnes at 3 g/t gold for 613,000 ounces, including Break of Day's 868,000 tonnes at 7.2 g/t for 199,000 ounces and Lena deposit's 4.3 million tonnes at 2.3 g/t for 325,000 ounces.