Exploration activities for the financial year have been focused on gold exploration at Cue.
Musgrave has an estimated 659Koz of gold in resources within the
The new Big Sky and White Heat gold discoveries are not included in the current resource estimate.
The Company's focus continues to be on the
Musgrave's intent is to continue to grow the resource base, accelerate exploration and continue prefeasibility level studies at the Break of Day and Lena deposits to define a low-cost operation that returns value to shareholders.
FY21 was a successful year for Musgrave following the high-grade Starlight gold discovery at Break of Day and subsequent resource update in
A capital raising and the implementation of significant exploration programs have led to further gold discoveries at White Heat, Target 14 and Big Sky, enhancing the potential to grow the existing resource base.
After the discovery of the Starlight deposit at Break of Day in 2020, the Company applied the knowledge and experience gained back into regional target selection and followed this up with a strong focus on exploration drilling to grow the resource base at Cue.
The exploration drilling program has been very successful and has identified high-grade gold mineralisation at the White Heat Prospect and thick, near surface modest grade mineralisation over a 2.6km strike extent at Big Sky.
Musgrave also has tenement applications in the
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