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Navarre Minerals (ASX:NML) - Managing Director, Ian Holland - The Market Herald
Managing Director, Ian Holland
Source: Navarre Minerals
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  • Navarre Minerals (NML) intersects high-grade gold and silver from its St Arnaud Gold Project in Victoria
  • The company recently completed a 113-hole aircore drilling program at St Arnaud that tested the New Bendigo and Nelson Reef lines
  • Overall, the Nelson Line returned up to 36.4g/t gold and 172g/t silver
  • Navarra will now complete the expanded 4000-metre drilling program with a priority on following up on the best results
  • Shares in Navarre are steady on the market and are trading at 10.5 cents at 11:52 am AEST

Navarre Minerals (NML) has intersected high-grade gold and silver from its St Arnaud Gold Project in Victoria.

The St Arnaud Project lies 244 kilometres northwest of Melbourne in the Bendigo-Stawell Zone of the Lachlan Fold Belt.

Navarre recently completed a 113 hole, for 7643 metres, aircore drilling program that tested the New Bendigo and Nelson reef lines.

Best results from the New Bendigo Line include one metre at 6.3g/t gold from 65 metres; one metre at 21.g/t gold from 10 metres; and nine metres at 1.5g/t gold from surface.

Results from the Nelson Line include six metres at 1.2g/t gold and 67g/t silver from 20 metres, including two metres at 172g/t silver and 2.5g/t gold; and one metre at 36.4g/t gold from 41 metres.

Navarre will now complete the expanded 4000-metre drilling program with priority on following up on the best AC results.

"The company is pleased with these strong results from our first drilling around the historical gold mines, which gives us confidence to forge ahead with an expanded program, in view of outlining a maiden resource," Managing Director Ian Holland commented.

"Navarre is currently diamond core drill testing below these exciting aircore intercepts on the New Bendigo Lines and plans to do so on the Nelson Line too.

"Diamond core drill testing is the next logical step towards defining a maiden resource, which would add to our recently announced resource at our Stawell Corridor project."

Shares in Navarre were steady on the market and trading at 10.5 cents at 11:52 am AEST.

NML by the numbers
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