- Navarre Minerals (NML) intersects up to 95.2 grams per tonne (g/t) gold from the Telstra Hill deposit within its Mt Carlton operation in Queensland
- The company is currently undertaking a reverse circulation and diamond drilling program to infill and extend the known limits of the gold, silver and copper mineralisation
- As well as the high-grade gold, up to 14.1 g/t silver and 0.3 per cent copper was intersected, further confirming the prospectivity of Mt Carlton
- Navarre expects to use the results in a mineral resource update for Telstra Hill which is planned to be released in September
- Navarre is up 6 per cent on the market with shares trading at 5.3 cents at 11:29 am AEST
Navarre Minerals (NML) has intersected up to 95.2 grams per tonne (g/t) gold from the Telstra Hill deposit within its Mt Carlton operation in Queensland.
The company is currently undertaking a reverse circulation (RC) and diamond drilling program to infill and extend the known limits of the gold, silver and copper mineralisation.
A total of 29 RC and diamond core holes, for 2218 metres, have been drilled at Telstra Hill with all assays received and currently being interpreted and geologically modelled.
Results include five metres at 22.1 g/t gold from 36 metres including one metre at 95.2 g/t gold, 7.1 metres at 4.3 g/t gold and 14.1 g/t silver from 1.9 metres, and two metres at 6.3 g/t gold and 0.3 per cent copper from 59 metres.
These results further confirm the prospectivity of Mt Carlton and support Navarre’s aim of growing the mineral inventory and extending the mine life.
Navarre expects to use the results in a mineral resource update for Telstra Hill which is planned to be released in September.
“The ongoing resource definition drilling program has confirmed the continuity, tenor and width of the gold, silver and copper system of the Telstra Hill deposit,” Managing Director Ian Holland said.
“Telstra Hill is a key component of our satellite open pit mining strategy for the Mt Carlton
operation which, to date, includes three other gold deposits delineated at Mt Carlton United, Delta and BV7.”
Navarre was up 6 per cent on the market with shares trading at 5.3 cents at 11:29 am AEST.