- Navarre Minerals (NML) has requested two consecutive back-to-back trading halts pending a release of a capital raising announcement
- The company will remain in the halt until July 16 or when the announcement is made, whichever occurs first
- On July 8, Navarre intersected up to 20.8 grammes per tonne gold from diamond drilling at the Resolution Lode prospect in Victoria
- The company is now aiming to complete this program by the end of 2020 and deliver a maiden mineral resource estimate in the first quarter of 2021
- Shares in Navarre last traded for 15.5 cents each on July 9
Navarre Minerals (NML) has requested two consecutive back-to-back trading halts pending a release of a capital raising announcement.
The company will remain in the halt until July 16 or when the announcement is made, whichever occurs first.
On July 8, Navarre received significant gold assays from diamond drilling at the Resolution Lode prospect in Victoria.
The company is just under halfway through a 9000-metre program and is aiming to test the continuity and extent of previously identified mineralisation.
So far gold, grading up to 20.8g/t has been uncovered.
Navarre is now aiming to complete this program by the end of 2020 and deliver a maiden mineral resource estimate in Q1 2021.
The company will also fast-track drilling at the Jubilee Gold Project in Q4 2020, the first exploration at the project since the mine closed in 1913.
Navarre last entered a trading halt in October 2019 pending the announcement of a $4.75 million capital raising.
A few days later, the company received firm commitments for the placement and stated it would use the money to strengthen its working capital and pursue exploration programs.
Shares in Navarre last traded for 15.5 cents each on July 9.