Navarre Minerals (ASX: NML) has continued to generate strong results from inaugural diamond drilling at the Morning Bill prospect within the Glenlyle project in western Victoria, with managing director Ian Holland saying the prospect could emerge as one of the company’s “best mineral discoveries”.
The inaugural diamond drilling program comprised eight holes across 2,994m and followed up on mineralisation identified from an earlier aircore program.
Drilling tested 1,100m of strike extent and was designed to evaluate vertical extensions along with key rock types, mineralisation style, structural information and alteration patterns.
Strong silver results
Latest assays are from the final five diamond holes of the eight-hole program.
Highlight results from this batch were 9.7m at 1.1g/t gold from 306.8m, including 0.9m at 4.3g/t gold; 278.9m at 2.8g/t silver from 70.2m, including 1.4m at 117.1g/t silver; 194.8m at 1.1g/t silver from 22.7m to end of hole; and 5.1m at 13.7g/t silver from 298.5m to end of hole, including 1m at 58.6g/t silver.
From the entire eight-hole program, peak results were 16.5 grams per tonne gold, 216g/t silver, 1.2% copper, 9.1% zinc and 4.8% lead.
Evidence of a large concealed mineralised system
Mr Holland said although it was “early days” he was “extremely pleased” with the drill results at Morning Bill.
“They provide strong evidence that we are onto a very large, concealed gold, silver and base metals system.”
“The potential ore grade levels of gold with silver and base metals mineralisation confirm our belief that Morning Bill could emerge as one of our best mineral discoveries.”
Next steps at Morning Bill
To guide the next exploration stage at Morning Bill, Navarre has engaged expert analysis.
“We are presently undertaking a major geophysics program to provide a high-quality 3D model for the greater Morning Bill prospect, ahead of an aggressive drilling program to commence at the end of this year,” Mr Holland added.
The upcoming program is expected to comprise 5,000m of diamond core drilling and 8,000 of aircore drilling.
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