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Navarre Minerals (ASX:NML) - CEO & Managing Director, Geoff McDermott - The Market Herald
CEO & Managing Director, Geoff McDermott
Source: International Mining and Resource Conference
  • Catalyst Metals (CYL) and Navarre Minerals (NML) have found high-grade gold at the Macnaughtan prospect within the Tandarra Gold Project
  • The companies recently completed an aircore (AC) drilling program
  • Results include three metres at 94.9g/t of gold from 87 metres
  • Follow-up AC and reverse circulation drilling is planned for both of these projects during the 2020 and 2021 field season
  • On the market today, Catalyst is up 0.37 per cent and is selling shares for $2.69 each
  • while Navarre Minerals remains unchanged and trading for 12 cents per share

Catalyst Metals (CYL) and Navarre Minerals (NML) have found high-grade gold at the Macnaughtan prospect within the Tandarra Gold Project.

The companies recently completed an aircore (AC) drilling program, which included 42 holes of infill drilling on the Macnaughtan trend and 31 holes of drilling on the Lawry Zone.

The Lawry Zone has been extended by 700 metres based on the arsenic geochemistry and trace gold mineralisation.

Results include three metres at 94.9g/t of gold from 87 metres in drill hole ACT475, as well as one metre at 2.5g/t of gold from 108 metres at the end of hole in ACT473.

Tandarra is located along the Whitelaw Fault, about 40 kilometres north of Bendigo. The fault is considered to be the major structural control of gold mineralisation at Bendigo.

Catalyst Technical Director Bruce Kay is pleased with the encouraging results.

"The high grades and continuity of gold mineralisation revealed by this AC drilling are highly encouraging, confirming the potential of the southern Macnaughtan
prospect to become the second significantly mineralised structure at Tandarra, in parallel with the high-grade gold intersections at the Tomorrow Zone, 250 metres to the east," he said.

Follow-up AC and reverse circulation drilling are planned for both of these projects during the 2020 and 2021 field season.

On the market today, Catalyst is up 0.37 per cent and is selling shares for $2.69 each, while Navarre Minerals remains unchanged and trading for 12 cents per share at 12:40 pm AEST.


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