Navarre Minerals (ASX:NML) - Managing Director, Ian Holland
Managing Director, Ian Holland
Source: Navarre Minerals
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  • Joint venture partners Navarre Minerals (NML) and Catalyst Metals (CYL) have received results from drilling at the Tandarra Gold Project in Victoria
  • Four holes were completed at the Tomorrow Zone, confirming the extension of a west-dipping fault complex that controls gold mineralisation
  • A stand-out result from Tomorrow includes 82.3 grams per tonne gold
  • A review of data from aircore drilling at the Macnaughtan Zone has confirmed gold mineralisation extends for 1.4 kilometres of strike
  • Additionally, aircore drilling at Lawry has yielded positive gold grades
  • Navarre and Catalyst are currently planning follow-up drilling programs to begin before the end of the year
  • Navarre’s shares are up 10 per cent and are trading for 22 cents whereas Catalyst’s shares have dipped a slight 1.08 per cent in the red to trade for $2.75

Navarre Minerals (NML) and Catalyst Metals (CYL) have received results from multiple drilling programs at the Tandarra Gold Project in Victoria.

The project is held in a joint venture between the two companies, with Navarre holding a 49 per cent stake and Catalyst holding the remaining 51 per cent. Catalyst is also the manager of the joint venture.

Tomorrow Zone

Four step-out diamond holes, for 1320 metres, were completed at the Tomorrow Zone. This drilling aimed to test a 400-metre strike extent of a west-dipping fault which is believed to control gold mineralisation. The Tomorrow Zone also showed mineralised depth repetitions reported last year.

Best intersections came from two holes and include one metre at 2.38g/t gold from 74 metres, one metre at 3.5g/t gold from 121 metres, one metre at 2.92g/t gold from 327 metres and one metre at 82.30g/t gold from 261 metres.

The two southernmost holes didn’t intersect significant mineralisation which indicates the possible southern limit of gold mineralisation in the targeted zone.

“The continuity of mineralised structures outlined by diamond drilling indicates considerable potential for further extensions and repetitions of Tomorrow Zone gold mineralisation along strike and at depth,” Technical Director Bruce Kay said.

Macnaughtan Zone

The companies have compiled and reviewed results from reconnaissance aircore drilling programs that took place earlier this year.

Drilling tested gold mineralisation and its southerly extension on seven traverses over 1350 metres of strike. Pleasingly, gold mineralisation was intersected on nearly every traverse and the mineralisation remains open to the south.

Best intersections include 13 metres at 7.8g/t gold including two metres at 44.8g/t gold from 78 metres, two metres at 2.06g/t gold from 106 metres and one metre at 2.99g/t gold from 108 metres.

Lawry Zone

Easterly extensions of the southern reconnaissance aircore traverses provided a first test of structures east of Tomorrow Zone mineralisation. The program resulted in the discovery of mineralisation at the Lawry Zone.

Mineralisation remains open to the north and south.

Main intersections have been resampled and confirm significant mineralisation. Results include 31 metres at 1.4g/t gold including one metre at 9.4g/t gold and one metre at 10.45g/t gold from 56 metres and two metres at 1.84g/t gold from 91 metres.

“The continuity of gold mineralisation newly indicated by reconnaissance-spaced aircore drill programs along the southern Macnaughtan line and in the Lawry Zone provide exciting prospects of potential mineralisation awaiting follow up drilling,” Bruce stated.

Outlook

The joint venture partners currently plan to begin drilling before the end of this year. The drilling programs will target the interpretations from the Tomorrow Zone and will also confirm, infill and extend the Macnaughtan and Lawry gold-mineralised zones.

Navarre’s shares are up 10 per cent and are trading for 22 cents at 2:07 pm AEDT. However, Catalyst’s shares have dipped a slight 1.08 per cent in the red to trade for $2.75.

NML by the numbers
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