Musgrave Minerals Ltd (ASX: MGV) New veins identified. Superb High Quality Cue Interception


New veins identified. Superb High Quality Cue Interception

Perth, Dec 1 2021 AEST (ABN Newswire) – Musgrave Minerals Ltd (ASX: MGV) (FRA: 6 MU) (OTCMKTS: MGVMF) is pleased to announce further high grade gold assay results and potential new veins from regional drilling on its 100% owned land at its flagship Cue Gold project in the Murchison District of Western Australia ( Figure 1*).

Musgrave Managing Director Rob Waugh said: “Drill hole 21MORC232 has a fantastic new high grade result and has potentially identified two new veins near Break of Day. This confirms our opinion that there is much more gold to be found in Cue. We currently only have a few drill holes testing these new veins and more drilling is expected to begin next week. The very high grade intersection in 21MORC232 is near the surface and only 80m south of White Heat. It remains open to the west and down dip. All new gold intersections reported in this release are outside of the current mineral resource estimates for Cue. definition of the resource. ”

New veins of gold – ‘Starlight analogues’

A regional RC drilling program to test other high grade analog starlight veins was completed on 12 separate targets. Four potentially important new areas of interest were intersected and could represent new veins. All have very limited drill tests to date and remain open.

Drilling south of White Heat intersected two new mineralized positions (Figures 2 and 3 *) located approximately 80 m south of White Heat, 380 m south of Break of Day (Figure 2 *). The two new veins remain open to the west and down dip. Intersections include:

– 15m @ 111.6g / t Au from 25m (21MORC232) in hanging position, including:
o 5m @ 313.4g / t Au of 26m, and;
– 18m @ 1.0g / t Au of 62m (21MORC232) in foot position
– 1m @ 28.4g / t Au of 76m (21MORC223) in hanging position and about 20m from the intersection of the wall in 21MORC232

Drilling 250m north of Break of Day intersected another potential new zone with two distinct mineralized veins. Only one hole has currently tested this position and it remains open to the east, west and down dip. Drill returned:

– 1m @ 16.5g / t Au of 73m (21MORC318), and;
– 1m @ 14.4g / t Au from 90m

Follow-up RC drilling on the two new target areas will begin next week. All new assay results greater than 1 g / t gold are shown in Tables 1a and 1b.

White heat perspective

RC drilling at White Heat, 300m south of Break of Day (Figure 2 *) returned other gold intersections down dip and along the direction of previous mineralization. All new results are reported in Tables 1a and 1b *. Significant new interceptions include:

– 1m @ 7.4g / t Au of 175m (21MORC222) – mineralization remains open at depth
– 1m @ 21.8g / t Au from 158m (21MORC223) – mineralization remains open at depth
– 3m @ 3.5g / t Au from 23m (21MORC224) – mineralization remains open to the west

The White Heat mineralization is similar in direction to the Starlight vein at Break of Day, located 400 m to the north (Figures 1 and 2 *) and is hosted in a set of basalt rocks considered to have the same stratigraphy as that harboring Starlight. A leached zone near the surface is present (Figure 3 *) where gold is depleted in the upper saprolite. The mineralization remains open at depth.

* To view tables and figures, please visit:
https://abnnewswire.net/lnk/Z5H72110

About Musgrave Minerals Ltd

Musgrave Minerals Ltd ASX MGVMusgrave Minerals Ltd (ASX: MGV) is an active Australian explorer of gold and base metals. The Cue project in the Murchison area of ​​Western Australia is an advanced gold and copper project. Musgrave has had significant exploration success at Cue, with a focus on increasing gold and copper resources through discovery and extension drilling to support studies that will demonstrate a viable path for development short term. Musgrave also owns a significant set of exploration properties in the promising Ni-Cu-Co province of Musgrave in South Australia.

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