Ann: Break of Day High-Grade Mineral Resource Estimate - Amended, page-61

For the new S Head article -

Following a reinterpretation of the geology and orientation of the other lodes at Break of Day, the deposit’s Indicated and Inferred resources now stands at 797,000 tonnes at 10.2 g/t Au for 262,000 ounces of contained gold.
Commenting on the resource update, Musgrave managing director Rob Waugh said: “This is a significant milestone for the company with ongoing focus on grade and margin.
“It confirms Break of Day as a standout high-grade, near-surface gold deposit that will largely be amenable to open pit mining.”
Few undeveloped gold resources in Australia carry as high a grade as Break of Day.
Bellevue Gold’s namesake project near Leinster in WA has a resource of 2.3 million ounces at a grade of 10 g/t Au and Ramelius Resources’ Penny project near Youanmi in WA has a resource of 300,000 ounces at 15 g/t Au.
However, both these projects will be developed primarily as underground operations.

For context, gold industry research firm Aurum Analytics reported that the average open pit mill feed/head grade for Australian producers in the June 2020 quarter was 1.1 g/t Au.
This is a pointer to how profitable a mining operation at Break of Day could be.

Adding to the development prospects of Break of Day, the nearby Lena deposit contains an inferred and indicated resource of 4.3 million tonnes at 2.3 g/t for another 325,000 ounces.
Incorporating Break of Day, Lena and several smaller deposits, the updated total Indicated and Inferred Mineral Resources for the Cue Project now stands at 6.4 million tonnes at 3.2 g/t Au for 659,000 ounces of contained gold.
Musgrave owns 100% of these resources.