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Native Mineral Resources (ASX:NMR) - Managing Director, Blake Cannavo
Managing Director, Blake Cannavo
Source: Blake Cannavo [LinkedIn]
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  • Native Mineral Resources (NMR) confirms high-grade gold mineralisation at its Music Well Gold Project in Western Australia
  • The company has completed sampling to target the project’s potential for intrusion-hosted, structurally controlled (IHSC) gold mineralisation
  • Of the 128 samples collected, six graded over 10 grams of gold per tonne (g/t), with the highest grade returned 129 grams of gold per tonne
  • Due to the positive results, Native is pushing forward its diamond drilling program to begin late next month
  • Company shares ended the day 5.56 per cent in the green to close at 28.5 cents

Native Mineral Resources (NMR) has completed a phase two sampling program at the Music Well Gold Project in Western Australia.

The Music Well Project is located around 55 kilometers north of Leonora in the eastern Goldfields region.

Since acquiring the two tenements that make up the project late last year, the company has been exploring its potential for granite or intrusion-hosted, structurally controlled (IHSC) gold mineralisation.

The sampling work has confirmed the target vein continues to return high-grade gold results with rock chips measuring up to 129 grams of gold per tonne (g/t) to the maximum sample depth of around one metre below surface.

The average grade across all the 128 samples collected from the target vein was 3.16 g/t. Twenty eight of these samples returned over one g/t and six samples over 10 g/t.

Importantly, the high grades have validated the company’s belief that Music Well has the potential for a granite or IHSC gold mineralised system.

Managing Director Blake Cannavo was excited by these results, claiming they highlighted the significant upside and potential of the project.

“Music Well continues to evolve as a very high-quality gold project and these latest results demonstrate that the gold grades obtained from previous surface samples continue at depth, with the target zone remaining open in all directions,” Mr Cannavo said.

Due to the positive results, Native Mineral Resources is pushing forward its diamond drilling program which is now expected to begin in late July.

Company shares ended the day 5.56 per cent in the green to close at 28.5 cents.

NMR by the numbers
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