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Navarre Minerals (ASX:NML) - CEO & Managing Director, Geoff McDermott
CEO & Managing Director, Geoff McDermott
Source: International Mining and Resource Conference
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  • Navarre Minerals (NML) has intersected high-grade gold and silver at the Glenlyle tenement within the Morning Bill prospect in Victoria
  • Aircore holes were completed at Morning Bill and at regional targets elsewhere on the Glenlyle tenement
  • To date, results have been received for 42 of the holes, 25 of which were released earlier this month and 38 today
  • Todays high-grades of gold, silver, lead and zinc further expand the mineralised footprint at Morning Bill to over 1000 metres by 400 metres
  • Additionally, the regional drilling located two new areas of anomalous silver returning grades of up to 18 g/t with follow-up drilling expected
  • A 2000-metre diamond core drilling program is now underway, with results from this program and the remaining aircore results expected in due course
  • Navarre is trading 3 per cent higher at 17 cents each

Navarre Minerals (NML) has intersected high-grade gold and silver at the Glenlyle tenement within the Morning Bill Prospect in Victoria.

In all, 102 aircore holes, for 5508 metres were drilled, with 63 holes at Morning Bill and the rest over wide-spaced reconnaissance drilling at regional targets elsewhere on the Glenlyle tenement.

To date, results have been received for 42 of the holes, 25 of which were released earlier this month. Today, 38 assays were received, leaving 22 pending.

The company says the drilling continues to intersect high-grade anomalous gold, silver, lead and zinc grades.

Significant intercepts from today’s results include 38 metres at 7.8 grams per tonne (g/t) silver from 73 metres to end of hole, including one metre at 41.5g/t silver.

Another hole at the prospect intersected 40metres at 4.6g/t silver from 50metres to end of hole, including one metre at 71.8g/t silver.

Additionally, a broad 65-metre gold zone was intersected in drill hole GAC156 from 16 metres to end of hole, terminating in one metre at 3.1g/t gold, 8.0g/t silver, 0.9 per cent zinc, 0.4 per cent lead.

These gold, silver, lead and zinc grades further expand the mineralised footprint at Morning Bill to over 1000 metres by 400 metres, remaining open along strike and at depth.

Managing Director, Ian Holland said the company is extremely excited by the results and commented that although it is “early days”, Navarre is “already of the belief that this prospect could emerge as one of our best mineral discoveries in
Victoria, alongside our other discoveries at Resolution, Adventure and Tandarra.”

In addition, the regional drilling located two new areas of anomalous silver approximately three kilometres from Morning Bill, returning grades of up to 18g/t, with follow-up drilling expected.

The company says a 2000-metre diamond core drilling program is progressing well and has finished its first hole under the best Morning Bill assays.

Ian says the company looks forward to sharing the results from this program as well as the remaining air-core results, in due course.

Navarre is trading 3 per cent higher for 17 cents a piece at 1:36 pm AEDT.

NML by the numbers
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