• Drilling program to test three new targets is underway
  • A minimum of 1500m of RC and Diamond drilling is planned
  • Assay results expected in late January 2015

The drilling program will test both zinc-lead-silver and copper-gold targets at Erebus, Mallee and Taal in the highly prospective region.

A minimum of 1500m of drilling is planned over at least three targets using a combination of reverse circulation (RC) and diamond drilling. Managing Director Rob Waugh said "The targets all look very prospective and each is of large enough extent to potentially host significant volumes of mineralisation.

All the datasets align well to support the mineralisation model and the targets." Musgrave Minerals entered a Joint Venture Agreement with Menninnie Metals Pty Ltd, a wholly-owned subsidiary of Terramin Australia Limited (ASX:TZN) to earn a 51% interest in the Menninnie Dam Project in the first stage, and up to 75% thereafter.

Musgrave recently completed detailed soil sampling and gravity surveys over a number of specific target areas at Menninnie Dam.

Soil geochemistry returned anomalous silver, gold and copper values at Erebus (Figure 2) co-incident with an induced polarization (IP) chargeability anomaly, versatile time domain electromagnetic (VTEM) response and gravity low.

The geophysical characteristics of the target are similar to that at the Menninnie Central silver-lead-zinc deposit located only 4km to the north-east. A minimum of three drill holes are planned at Erebus to test individual targets within this large anomaly. Target depths vary between 60 and 150m.