Join our daily newsletter At The Bell to receive exclusive market insights
- Navarre Minerals (NML) intersects further high-grade gold, silver and copper mineralisation at its Mt Carlton operation in north Queensland
- Both reverse circulation and diamond drilling were undertaken to infill and extend the limits of the gold, silver and copper mineralised systems
- The results come from the Mt Carlton United, BV7 and Delta deposits, and they reinforce the high-grade nature of the deposits and highlight the prospectivity of Mt Carlton
- The highest-grade results come from Mt Carlton United, with up to 77.4 g/t gold, 399.7 g/t silver and 2.3 per cent copper intersected
- Navarre is up 2.33 per cent, with shares trading at 4.4 cents at 2:07 pm AEDT
Navarre Minerals (NML) has intersected further high-grade gold, silver and copper mineralisation at its Mt Carlton operation in north Queensland.
The company took on reverse circulation (RC) and diamond drilling in the area to infill and extend the limits of the gold, silver and copper mineralised systems.
Today’s results come from the Mt Carlton United (MCU), BV7 and Delta deposits, and Navarre said they reinforced the high-grade nature of the deposits and highlighted the prospectivity of Mt Carlton.
Since the company reported previous results on September 12, it has drilled a further 58 RC holes at the MCU Deposit.
This drilling has confirmed and upgraded several areas of shallow, high-grade gold, silver and copper mineralisation on the boundaries of the mineral resource pit shells.
Overall, Navarre intersected up to 77.4 g/t gold, 399.7 g/t silver and 2.3 per cent copper at the MCU deposit.
Follow-up drilling will be undertaken to define the lateral extents of the mineralisation.
At the BV7 Deposit, six RC holes and 12 diamond core holes were drilled, with a focus on the interpreted mineralised boundaries.
All assays have been received and are being interpreted and geologically modelled for a resource estimate.
The results from this prospect include 15 metres at 11.4 g/t gold and 7.7 g/t silver from 77 metres including 8.6 metres at 19.4 g/t gold and 12.6 g/t silver from 80.4 metres.
At Delta, seven diamond and 11 RC holes were drilled, with assays also being interpreted and geologically modelled to update the existing mineral resource estimate.
Results have only been received for one hole and include seven metres at 1.2 g/t gold and 4.6 g/t silver from 77 metres.
“It’s great to see consistently strong results being generated from our investment in drilling at Mt Carlton, including several high-grade gold, silver and copper intercepts from the MCU and BV7 deposits as part of this latest market update,” Navarre Managing Director Ian Holland said.
“Our work continues to demonstrate the project development opportunities present within the broader Mt Carlton project area, which now includes five potential satellite gold, silver and copper deposits to supplement existing production from the V2 open pit.”
Navarre is up 2.33 per cent, with shares trading at 4.4 cents at 2:07 pm AEDT.
