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- Navarre Minerals (NML) intersects significant gold and silver mineralisation from the Morning Bill prospect within the Glenlyle tenement in western Victoria
- The results come from aircore and diamond drilling that tested the potential for near-surface mineralisation and a significant induced polarisation anomaly
- Grades peaked at 12.8g/t gold and 247g/t silver and indicate the presence of a large gold and silver mineralised system with zoned alteration patterns
- Navarre is now refining its geological model to better focus on target areas for economic appraisal
- Shares in Navarre are up 1.14 per cent and are trading at 8.9 cents
Navarre Minerals (NML) has intersected significant gold and silver mineralisation from the Morning Bill prospect within the Glenlyle tenement in western Victoria.
The results come from 3295 metres of infill and extensional aircore drilling designed to test the potential for near-surface mineralisation above and adjacent to hole GDD003.
Hole GDD003 has returned some of the best assays seen to date at Morning Bill, including 10.1g/t gold, 216g/t silver, 9.1 per cent zinc and 4.8 per cent lead.
Some results also come from two diamond core holes that tested a significant induced polarisation (IP) chargeability anomaly.
Better results include one metre at 12.8g/t gold within a broader zone of seven metres at 2.3g/t gold from 134 metres, and two metres at 247g/t silver within a broader zone of 12 metres at 57g/t silver from 115 metres.
The results indicate the presence of a large, epizonal gold and silver mineralised system with zoned alteration patterns hidden by a shallow blanket of cover.
“Our ongoing systematic exploration of Morning Bill continues to deliver compelling results as we home in on the best areas for gold and silver along the extensive 1100 metre mineralised trend we have defined to date,” Managing Director Ian Holland said.
“The new drilling results have delineating areas of significant, semi-continuous high-grade gold and silver mineralisation within zones of discrete alteration, centred over a prominent magnetic low feature.”
Navarre is now refining its geological model to better focus on target areas for economic appraisal.
Shares in Navarre were up 1.14 per cent on the market and were trading at 8.9 cents at 1:53 pm AEST.
