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Navarre Minerals (ASX:NML) - Managing Director, Ian Holland
Managing Director, Ian Holland
Source: Navarre Minerals
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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
  • All up, 102 aircore holes were drilled with 63 holes drilled at Morning Bill and the remaining 39 drilled elsewhere on the tenement
  • Navarre has now received results 42 of the holes with the remaining 60 pending
  • Grades have peaked at 301g/t silver and 1.3g/t gold with the mineralisation now spanning more than 700 metres in length and around 400 metres in width
  • Diamond drilling has now begun to undertake a 2000-metre drilling program to test under the best aircore results
  • Navarre is up a healthy 17.9 per cent and shares are trading at 16.5 cents

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

All up, 102 aircore holes, for 8388 metres, were drilled with 63 holes drilled at Morning Bill and the remaining 39 drilled elsewhere on the Glenlyle tenement.

These targets were chosen because they have geophysical signatures similar to Stavely Minerals’ (SVY) Cayley Lode, where up to 40 per cent copper, 3g/t gold and 517g/t silver has been intersected.

Navarre has already received results for the first 17 holes and has reported on an additional 25 today. Results for the remaining 60 are pending and will be reported on in due course.

Best results include 75 metres at 12.6g/t silver from 21 metres including one metre at 301g/t silver and one metre at 1.3g/t gold from 99 metres.

This mineralisation spans more than 700 metres in length and roughly 400 metres in width.

“The latest aircore drilling results are outstanding and we have immediately kick-started a diamond core drilling campaign to test the depth extents of a potentially large polymetallic mineral system of the Glenlyle tenement,” Managing Director Ian Holland said.

“The mineralised footprint at Morning Bill has now double in strike length, with further extensions likely given visual analysis of material drilled but not yet assayed,” he added.

Diamond drilling has now begun to undertake a 2000-metre drilling program to test under the best aircore results.

Navarre is up a healthy 17.9 per cent and shares are trading at 16.5 cents at 2:35 pm AEDT.

NML by the numbers
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