The Starlight lode at Break of Day is located on the Company's 100% owned ground at its flagship
Musgrave Managing Director
To date a total of 45 RC holes of a planned 59 holes have been completed with assay results received for 39 holes. Three diamond drill hole tails and one twin hole have been completed to date with assays pending. All new assay results are shown in Table 1a with further assays expected within two weeks.
The Starlight and White Light mineralised gold lodes lie proximal to the existing Break of Day resource (Figure 2*) within separate southeast-northwest parallel mineralised zones approximately 75m apart. Significantly, all the intersections returned from Starlight and White Light sit outside the current resource at Break of Day.
The mineralisation consists of quartz lodes hosted within a foliated and altered basaltic stratigraphic sequence that typically dip steeply to the south (Figure 3). Both lodes have a strike extent of over 100m and are open to the south-east (Figures 3 & 5*) and down plunge.
Discussion of Results
A combination of six metre composites and one metre individual samples have been analysed from the RC holes drilled in the current program with details defined in Tables 1a and 1b*. All 6m composite samples above 0.1g/t Au will be re-submitted for individual 1m sample analysis.
Significant intercepts at Starlight lode:
o 85m @ 11.6g/t Au from 7m (20MORC058) including;
o 8m @ 99.0g/t Au from 7m including;
- 3m @ 254.2g/t Au from 8m and
o 4m @ 45.5g/t Au from 38m and
o 6m @ 9.4g/t Au from 86m
o 68m @ 5.9g/t Au from 21m (20MORC057) including;
o 8m @ 48.5g/t Au from 21m (20MORC057) including;
- 1m @ 300.4g/t Au from 22m
o 9m @ 10.7g/t Au from 52m (20MORC055) including;
o 6m @ 15.7g/t Au from 52m
o 6m @ 32.3g/t Au from 61m (20MORC061) including;
o 1m @ 163.3g/t Au from 62m
o 32m @ 1.2g/t Au from 0m (20MORC054) including;
o 4m @ 4.6g/t Au from 26m (Hole 20MORC054 collared too far north to intersect main high-grade Starlight lode. Further drilling required)
Significant new results from the White Light lode include:
o 1m @ 22.6g/t Au from 115m (20MORC048)
Break of Day
The current resource estimate for the
This current resource estimate does not include any recent results from the new Starlight and White Light gold discoveries. The updated resource estimate incorporating these results will be completed in late Q3 2020.
Ongoing Exploration
Musgrave 100% tenements
- Follow-up RC drilling on the Starlight lode at Break of Day is continuing with drilling now 75% complete. Further assays are expected in two-three weeks.
- Additional drilling on the newly discovered White Light lode at Break of Day will commence next week.
- The diamond drilling program at Starlight to test depth extensions to the mineralisation is progressing well with first assays expected in three-four weeks.
- A resource update for Break of Day including Starlight and White Light is planned for late Q3, 2020. Evolution JV
- Evolution has approved the FY20-21 budget and the Phase 2 follow-up aircore drilling of high-priority gold targets is scheduled to commence in late
THE CUE PROJECT
The Company believes there is significant potential to extend existing mineralisation and discover new gold deposits within the Project area, as demonstrated by the recent drilling success at Break of Day, Lena and Lake
Musgrave has executed an
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/334F7P42
About
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Managing Director
+61 8 9324 1061
Associate Director
+61 411 479 144
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