Outstanding High-Grade Gold at White Heat, Cue
Outstanding High-Grade Gold at White Heat, Cue
Perth, Feb 24, 2021 AEST (ABN Newswire) - Musgrave Minerals Ltd (ASX:MGV) (FRA:6MU) is pleased to report further high-grade reverse circulation ("RC") gold assay results from the newly discovered White Heat prospect, 300m south of Break of Day at its 100% owned ground at its flagship Cue Gold Project in Western Australia's Murchison district (Figure 1*).

Musgrave Managing Director Rob Waugh said: "This is another great set of results from the White Heat discovery which shows a steep westerly plunge to the high-grade shoot. The proximity to Break of Day would provide strong synergies for potential future development. Drilling is ongoing with two rigs on site and further assay results expected in coming weeks from White Heat and other regional targets".

White Heat Prospect

Further RC drilling at White Heat (formally Target 2) has identified high-grade gold over a strike extent of up to 100m with a steep westerly plunge (Figure 2 and 3). Twenty-five RC drill holes have been completed to date at White Heat with assays now received for the first 15 holes (Tables 1a and 1b). Drill holes are sited at 40m intervals along 20m spaced traverse lines. Significant new intercepts from 1m individual samples (unless otherwise stated) include:

- 3m @ 26.4g/t Au from 32m (21MORC007) including;
o 1m @ 65.4g/t Au from 32m
- 3m @ 22.5g/t Au from 60m (21MORC0037) and,
- 3m @ 11.8g/t Au from 43m,
- 4m @ 5.7g/t Au from 16m (21MORC035)
- 1m @ 22.5g/t Au from 32m (21MORC033)
- 1m @ 5.1g/t Au from 119m (21MORC038) - 6m @ 1.6g/t Au from 36m (20MORC009) - single composite sample
- 6m @ 1.3g/t Au from 56m (20MORC006) - single composite sample

The mineralisation has a similar orientation to the Starlight lode at Break of Day, located 300m to the north, (Figure 2) and is hosted within a basalt package thought to be the same stratigraphy as that hosting Starlight. A leached near surface zone is present (Figure 3) where gold is depleted in the upper saprolite. The mineralisation is open down plunge.

A combination of 6m composites and 1m individual samples have been analysed from the RC holes drilled in the current program with new details presented in Tables 1a and 1b. All intervals assaying above 1g/t have been reported in this release.

The regional aircore drilling program that identified White Heat has also identified high-grade gold at five other targets. Individual 1m samples have been received for a further seven holes in this aircore program with the new results supporting the initial composite assay data. New assay results include:

Target 5
- 24m @ 2.53g/t Au from 16m (20MUAC402) including,
o 2m @ 8.8g/t Au from 20m and
o 1m @ 33.9g/t Au from 34m
- 2m @ 21.1g/t Au from 34m (20MUAC397)

Target 20

- 8m @ 2.56g/t Au from 27m (20MUAC395)
- 1m @ 1.98g/t Au from 36m (20MUAC384)

These targets are being tested with RC drilling during the current program with assays expected mid-March.

*To view tables and figures, please visit:

About Musgrave Minerals Ltd

Musgrave Minerals Ltd ASX MGVMusgrave 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.



Rob Waugh
Managing Director
Musgrave Minerals Limited
+61 8 9324 1061

Luke Forrestal
Associate Director
Media and Capital Partners
+61 411 479 144

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