Musgrave successfully increased the Mineral Resources at Break of Day and Lena to a combined 353koz Au in July 2017. The Moyagee Project now hosts a combined JORC (2012) and JORC (2004) compliant total Mineral Resource base of 3.87Mt @ 3.07g/t Au for 382,000oz contained gold within four seperate deposits, Break of Day, Lena, Leviticus and Numbers (refer Table 1 below and MGV ASX announcement 14 July 2017, “Resource Estimate Exceeds 350koz Gold” and Silver Lake Resources Limited (SLR) ASX Announcement 26 August 2016, “Mineral Resources and Ore Reserves Update”).
Multiple gold targets remain untested including Louise, Lady Stardust, Laterite Hill and Vostock.
Reverse circulation (“RC”) and diamond drilling has identified high-grade gold mineralisation at Break of Day including:
- 21m @ 21.5g/t Au from 157m (16MORC026),
- 6m @ 46.5g/t Au from 99m (17MORC002),
- 15m @ 16.6g/t Au from 170m (17MORC050),
- 14m @ 14.4g/t Au from 111m (17MORC044),
- 11m @ 6.8g/t Au from 23m (17MORC001),
- 5m @ 53.5g/t Au from 138m (16MORC043),
- 3m @ 54.9g/t Au from 187m (16MORC041),
- 5m @ 33.0g/t Au from 154m (16MORC048),
- 4m @ 28.5g/t Au from 99m (17MORC053), and
- 3m @ 38.6g/t Au from 274m (16MORC039).
(see ASX releases dated 10 October 2016, 18 October 2016, 3 November 2016, 9 November 2016, 17 March 2017, 20 April 2017 and 8 May 2017)
Diamond drilling has confirmed the gold mineralisation and includes:
- 3.2m @ 26.6g/t Au from 238.5m (16MODD002),
- 4.0m @ 9.6g/t Au from 231.0m (16MODD003), and
- 6.6m @ 7.3g/t Au from 127.35m (16MODD001).
(see ASX release dated 30 January 2017; “Diamond Drilling Confirms High Grade Gold at Break of Day & Extends High Grade Gold at Lena”)
The Break of Day mineralisation extends for more than 360m of strike and is open down dip and also along strike to the north and south. The mineralisation is interpreted to occur in vertical to steep westerly dipping, semi-parallel quartz lodes hosting high-grade gold with minor (1-2%) pyrite, within a basaltic stratigraphic sequence. The seperation of the gold lodes varies along strike from 10 to 60 metres.
Historical intersections at Break of Day include:
- 3m @ 8.9g/t Au,
- 3m @ 23.0g/t Au.
Historical intersections at Laterite Hill include:
- 3m @ 37.6g/t Au (drill hole EHC1),
- 3m @ 19.7g/t Au (drill hole ARC296) and
- 7m @ 5.5g/t Au (drill hole ARC282).
Further drilling is required to test these targets and define the boundaries to the mineralisation within these targets.
Musgrave’s goal is to define a high-grade gold resource at Break of Day and Lena that will underpin a clear path to development.