Musgrave Minerals Ltd high-grade drilling results continue at White Heat-Mosaic

Perth, Australia (ABN Newswire) – Musgrave Minerals Ltd (ASX: MGV) (FRA: 6MU) (OTCMKTS: MGVMF) is pleased to announce further high-grade gold assay results from Reverse Circulation (“RC”) and diamond drilling along the Diurnal Trend break at the White Heat-Mosaic deposit. The results come from a combination of infill and step-out drilling and highlight the very high-grade nature of the mineralization near surface. The White HeatMosaic deposit, with its near-surface high grades, is expected to be a key component of future project development at Cue. The results continue to reflect the unique potential of the land 100% owned by Musgrave at its flagship Cue Gold project in the Murchison district of Western Australia (Figure 1*).

Musgrave’s managing director, Rob Waugh, said: “This is another strong set of results and confirms the exceptionally high grades of near-surface gold mineralization at White Heat-Mosaic. The deposits, including White Heat-Mosaic along the trending day’s high-grade breakout, will be the cornerstone for the future development of the Cue Gold project.”

Break of the day trend

White Heat Mosaic Deposit

The Dawn Trend has a total mineral resource estimate of 982 kt at 10.4 g/t Au for 327 koz of gold, 70% of which is in the highest confidence Indicated Resource category (see MGV ASX announcement dated May 31, 2022, “Cue Mineral Resource 927,000 ounces).

A subset of this inventory (185 kt @ 11.0 g/t Au for 65 koz of gold) defines the White Heat-Mosaic deposit.

The deposit, just 300 m south of Break of Day (797 kt @ 10.2 g/t Au for 262 koz gold) is currently modeled at a maximum depth of 160 m.

This recent drilling (not yet incorporated into the resource estimate) confirms near-surface, high-grade endowment along this trend, characterized by quartz veins within a high-grade basalt stratigraphic unit. titanium. The drilling aimed to better define the mineralized boundaries and high-grade plunge orientations of the White Heat-Mosaic deposit (Figures 2-4*). The complete results are presented in Tables 1a and 1b*.

New RC drill intersections outside the current mineral resource boundary on the Mosaic vein include:

o 4m @ 7.6g/t Au from 2m (22MORC253) extending Mosaic mineralization up to 2m from surface.

New RC intersections within the current mineral resource boundary (infill drilling) include:

o 5m @ 80.2g/t Au from 12m (22MORC251), including;
o 2m @ 194.5g/t Au from 12m
o 8m @ 19.8g/t Au from 37m (22MORC242), including;
o 3m @ 49.7g/t Au from 38m
o 5m @ 43.9g/t Au from 89m (22MORC248), including;
o 1m @ 176g/t Au from 89m
o 7m @ 8.1g/t Au from 66m (22MORC236), including;
o 1m @ 49.4g/t Au from 69m
o 3m @ 17.6g/t Au from 3m (22MORC243)
o 2m @ 20.0g/t Au from 96m (22MORC254)
o 4m @ 5.3g/t Au from 43m (22MORC249)
o 2m @ 4.9g/t Au from 17m (22MORC239)

Mineralization remains open at depth (Figure 3*) but appears to weaken at depth. Further step-out drilling to confirm the push and plunge geometries is being planned.

Minor flare veins are evident during drilling but are expected to have limited lateral extension. Results from the diamond hole (22MODD030) in the Mosaic vein were received where low grade mineralization was intersected within the quartz vein at the projected depth, but outside the high grade plunge zone ( tables 2a and 2b*).

*To view tables and figures, please visit:

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 a focus on increasing gold and copper resources through discovery and step-out drilling to underpin studies that will demonstrate a development path. viable in the short term. Musgrave also holds a large set of exploration concessions in the prospective Ni-Cu-Co province of Musgrave in South Australia.

Musgrave Minerals Ltd.


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

Angela East 
Associate Director
Media and Capital Partners
+61 428 432 025

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