- Navarre Minerals (NML) reports “outstanding” high-grade gold, silver and copper drilling intercepts from its Mt Carlton United (MCU) deposit in North Queensland
- The company undertook 71 holes for 5451 metres of drilling with an aim to infill and extend the known limits of the gold, silver, and copper mineralised system
- Navarre says the results confirm the outstanding grade and continuity of the mineral inventory at MCU, which is part of the recently acquired Mt Carlton Operation
- Navarre anticipates the drilling results will inform an updated resource estimate for MCU, which is expected to be published in September
- Navarre Minerals last traded at 9.3 cents at 10:25 am AEST
Navarre Minerals (NML) has reported “outstanding” high-grade gold, silver and copper drilling intercepts from its Mt Carlton United (MCU) deposit in North Queensland.
The company undertook 71 holes for 5451 metres of drilling during the first quarter of 2022.
The drilling program involved one reverse circulation drilling rig and one diamond core drilling rig, with the aim of infilling and extending the known limits of the gold, silver and copper mineralised system.
The results unveiled drill intercepts of up to 22.9 grams per tonne (g/t) gold, 1327 g/t silver and 4.2 per cent copper. Navarre said the results confirm the outstanding grade and continuity of the mineral inventory at MCU, which is part of the recently acquired Mt Carlton Operation.
This marks Navarre’s first drilling completed at Mt Carlton since assuming formal ownership of the asset.
Navarre Managing Director Ian Holland said the results represent an important milestone for the company since transitioning to becoming a gold producer.
“The resource definition drilling program has confirmed the continuity, tenor and width of the high-grade gold, silver and copper system of the Mt Carlton United prospect,” said Ian Holland.
“Only four kilometres west of the processing facility, the gold-silver-copper mineralisation defined at MCU has the potential to significantly extend mine life at Mt Carlton.”
Navarre said it anticipated the drilling results in this report would inform an updated resource estimate for MCU, which is expected to be published in September.
This is expected to be joined by updated mineral resources for other Mt Carlton deposits, including V2, Telstra Hill and Crush Creek.
Navarre Minerals last traded at 9.3 cents at 10:25 am AEST.