Musgrave to continue Cue spend
PERTH (miningweekly.com) – Perth-based Musgrave Minerals has completed the Stage 1 earn-in over the Cue gold and copper project, in Western Australia.
The company has secured a 60% interest in the Cue project by meeting the A$1.8-million exploration expenditure requirement.
In addition to the A$1.8-million Stage 1 exploration spend, Musgrave has also invested A$900 000 in the project, to meet its minimum expenditure, bringing total spend on the project to date to A$2.7-million.
“Musgrave is pleased to have completed the initial 60% ownership interest in the Cue project. This is an exciting time for Musgrave following the exceptional drilling results received at Break of Day and Lena, as we push towards delivering on our objectives,” said Musgrave MD Rob Waugh.
The company on Wednesday said it had also elected to proceed with the Stage 2 earn-in to raise its stake in the project to 80%, by spending an additional A$1.8-million on exploration within the next two years.
The Musgrave project is held by ASX-listed Silver Lake Resources, through its wholly owned subsidiary Cue Minerals, and comprises the Moyagee gold project, which has a mineral resource of some 126 900 oz of contained gold, and the Hollandaire copper project, which is estimated to contain some 38 800 t of copper and 495 000 oz of silver, as well as around 22 500 oz of gold.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
