Musgrave Minerals Limited (ASX: MGV) – $0.027
22 Apr 2015
Musgrave Minerals Limited (ASX: MGV) is eligible to receive $90,000 for drilling at the Roslin zinc and Zarek nickel-copper targets at the Mimili Project within the Musgrave region and $55,000 for drilling at the Corunna Silver-Lead-Zinc Project within the Southern Gawler Craton both located in South Australia (Figure 1).
Figure 1. Location of Mimili and Corunna Projects
The company has successfully secured funds from the South Australian Government through the Plan for Accelerating Exploration Frontiers Initiative.
The grant is subject to the company committing 50% of direct drilling costs and completion before 1 May 2016.
The Zarek target is a new nickel-copper gossan with a Ni, Cu, Co geochemical anomaly on the margin of a discrete gabbroic intrusive. The gossan may reflect the surface expression of weathered nickel-copper sulphide mineralisation.
The Roslin zinc target is located 10km east of Zarek. The zinc gossan is associated with Cu, Co and Mn anomalism and is coincident with a basement ground EM response. Drilling is planned for the June 2015 quarter.
Four new high priority silver-lead-zinc epithermal targets have been identified at Corunna. Follow up infill geochemistry is being planned prior to a heritage survey and drilling.
For further information, visit www.musgraveminerals.com.au
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