Advanced explorer Navarre Minerals (ASX: NML) has reported “outstanding” gold and silver results with the potential for broader polymetallic mineralisation from drilling at the greenfields Glenlyle project in western Victoria.
The impressive intercepts were generated from the Morning Bill prospect, which is the key area of focus on the Glenlyle tenement and surrounds.
Aircore drilling of 102 holes for a total 8,388m detected strongly anomalous gold, silver, lead and zinc along more than 700m of strike (north-west to south-east), approximately 400m in width.
Of these, 63 holes were at Morning Bill for 5,508m, while the remaining 39 holes explored regional targets on the Glenlyle tenement for 2,880m.
These targets were selected for their geophysical similarities to Morning Bill or the nearby Cayley Lode, where Stavely Minerals (ASX: SVY) last year unearthed “exceptional” copper, gold and silver grades.
Best silver results from Navarre’s drilling program were 75m at 12.6 grams per tonne silver from 21m to end of hole, including 38m at 23.5g/t, 1m at 301g/t and 1m at 207g/t; 84m at 1.9g/t silver from 36m to end of hole, including 1m at 36.7g/t; and 73m at 1.4g/t silver from 41m to end of hole, including 1m at 17.3g/t.
Best gold results were 1m at 1.3g/t gold from 99m; 1m at 1.2g/t gold from 45m; 1m at 1.2g/t gold from 76m; and 1m at 1.1g/t gold from 28m.
Large polymetallic system
Managing director Ian Holland said the results paved the way for a 2,000m follow-up diamond core campaign to test the depth extents of a potentially large polymetallic mineral system at Glenlyle.
“The mineralised footprint at Morning Bill has now doubled in strike length, with further extensions likely given visual analysis of material drilled but not yet assayed,” he said.
“We are encouraged by the broad widths and tenor of the results from the shallow drilling program, as well as the presence of a large magnetic low corresponding with this mineralisation.”
Mr Holland said drilling at Glenlyle is part of Navarre’s broader regional drilling program which has been expanded to approximately 25,000m.