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REFINING THE GOLD STANDARD abcrefinery.com

to end-of-hole. It is one of multiple new targets which have come
to light following last year’s breakthrough events with the drill bit.
As the name of the company’s newest find suggests, Musgrave is
not placing a ceiling on how much gold it might find at Cue.
“We expect to really grow the resource base at Cue from the
659,000oz we have now, but we haven’t put an upper limit on what
we want to find,” Waugh said.
“We think we’ve got a pipeline of another half-dozen targets we’re
in the process of RC drilling over the next couple of months. We’ve
had two rigs on a regional programme now for about four months
– a combination of aircore and RC – and we’ve just started to do a
few diamond holes now in a few of the key prospects.”
Supporting Musgrave’s impending transition to a PFS is the recent
Musgrave has established gold resources of 659,000oz at its Cue appointment of respected mining engineer Brett Lambert as a non-
project in WA’s Murchison district executive director. Waugh said the company would also look to
beef up the capacity of its technical team over the coming months.
base will be economic, but what we don’t know is how big the Musgrave continues to monitor the progress Evolution Mining
Ltd is making at the Lake Austin JV where the established gold
resource base in the whole of the project area can get to,” he said.
producer can earn up to 75% via an $18 million exploration spend
“We think what we have is potentially economic at Lena and Break
over five years.
of Day and that’s why we’re doing the PFS-level activities, but if
Evolution has spent about $4.5 million over almost two years and
we can find more it will influence how big the plant will be and how
Waugh expects his company’s JV partner will soon commit to a
much infrastructure we need on site.”
large diamond drilling campaign over the lake-based system.
Other encouraging intercepts from Big Sky include 42m @ 1.1 g/t
from 30m, 36m @ 1.2 g/t from 30m and 12m @ 1.7 g/t from 108m

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