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- Navarre Minerals (NML) has received further significant gold assays from ongoing diamond drilling at the Resolution Lode prospect in Victoria
- The company is just under halfway through a 9000-metre diamond drilling program to test the depth potential of the lode
- NML aims to deliver a maiden mineral resource in early 2021
- So far, 4000 metres have been drilled to test the continuity and extent of previously identified gold mineralisation
- But the remaining 5000 metres are yet to be completed, and results will be reported on once they have been analysed
- Navarre is up a steady 10.7 per cent and shares are trading for 15.5 cents each
Navarre Minerals (NML) has received further significant gold assays from ongoing diamond drilling at the Resolution Lode prospect in Victoria.
The company is just under halfway through a 9000-metre diamond drilling program to test the depth potential of the lode. NML aims to deliver a maiden mineral resource in early 2021.
To date, 12 holes, for 4000 metres, have been drilled to test the continuity and extent of previously identified gold mineralisation.
Significant results received so far include one metre at 20.8g/t gold from 358.6 metres, two metres at 9.9g/t gold from 235.8 metres, and 2.9 metres at 6.2g/t gold from 187.3 metres.
These new results complement previous results that graded up to 47.2g/t gold.
The remaining 5000 metres are yet to be completed, and results will be reported on once they have been analysed.
“Our ongoing diamond drilling program at Resolution Lode is continuing to deliver consistently strong grades of high-grade gold mineralisation from within a well-defined lode channel extending from surface to beyond 300 metres deep,” Geoff McDermott said.
“The geometry and style of gold mineralisation at Resolution Lode is similar to the nearby four million-ounce Magdala gold deposit, indicating the potential for a similar large gold deposit at Resolution Lode,” he added.
Subject to COVID-19 health and safety guidelines, as well as government restrictions, Navarre is aiming to transition to round-the-clock drilling to increase productivity.
The company will also be aiming to complete expansion diamond drilling at the South Shoot and resume drill testing at North Shoot in October.
Navarre is up a steady 10.7 per cent and shares are trading for 15.5 cents each at 12:55 pm AEST.
