Musgrave Minerals Limited (ASX: MGV) – $0.085

19 Aug 2016

Musgrave Minerals Limited (ASX: MGV) has intersected further high grade gold in follow-up reverse circulation drilling at the Break of Day prospect within the Cue Project in the Murchison region of Western Australia (Figure 1).


MGV Cue Au

Figure 1. Location of the Cue Project



The high grade gold mineralisation was intersected in the interpreted hanging wall vein assaying 2.0 metres at 12.5g/t gold from 101.0 metres to 103.0 metres down hole. The hanging wall is now traced over a strike length of 360.0 metres and is open to the north and down dip.


Fourteen drillholes have been completed at Break of Day as part of the current drilling program and all assay results have been received. A number of existing drillholes will need to be extended at depth to intersect the projected position of the footwall mineralisation.


The Cue Project is a Farm-In and Join Venture Agreement with Silver Lake Resources Limited (ASX: SLR) where the company can earn up to 80% interest.



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