Quarterly Activities Report
Perth, April 28, 2023 AEST (ABN Newswire) - During the quarter the key focus for Musgrave Minerals Ltd (ASX:MGV) (6MU:FRA) (MGVMF:OTCMKTS) was on progressing both exploration and the Stage 1 Prefeasibility Study on Musgrave's 100% owned tenure at Cue which hosts a Mineral Resource Estimate of: 12.3 Mt @ 2.3g/t Au for 927koz gold (Indicated and Inferred)
This work resulted in the delivery of the Stage 1 PFS in April 2023 for the Cue Gold Project (CGP). The CGP focused on the southern component of the Mineral Resource: 10.8 Mt @ 2.5g/t Au for 868koz gold (Indicated and Inferred)
Exploration and resource conversion drilling continued throughout the quarter with further positive RC (reverse circulation) drilling results from Big Sky, Amarillo, Waratah and the identification of a new gold lode north of Break of Day. The Company drilled 100 RC holes for 7,645m across 11 deposits/prospects during the quarter. Final assays are pending for the majority of these holes. Aircore drilling over new target areas during the quarter included a combination of sterilisation drilling and drilling across new targets, consisting of 157 drillholes for 9,984m. Full assays results are pending.
Musgrave released the Company's first 3D interactive geoscientific model of the Cue Gold Project which can be accessed through the home page on the Company's website www.musgraveminerals.com.au.
The 3D interactive model is hosted using the VRIFY Technology Platform and includes details of the Cue Gold Project location, topography, and resource block models. Exploration activities such as drilling, surface geochemistry, geophysical surveys and models of the Company's gold deposits are displayed in an intuitive 3D interface. Stage 1 PFS designs and the planned infrastructure layout will be uploaded to the model in the coming quarter.
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About Musgrave Minerals Ltd
Musgrave Minerals Ltd (ASX:MGV) is an active Australian gold and base metals explorer. The Cue Project in the Murchison region of Western Australia is an advanced gold and copper project. Musgrave has had significant exploration success at Cue with the ongoing focus on increasing the gold and copper resources through discovery and extensional drilling to underpin studies that will demonstrate a viable path to development in the near term. Musgrave also holds a large exploration tenement package in the Ni-Cu-Co prospective Musgrave Province in South Australia.
Musgrave Minerals Ltd