Navarre Minerals sitting on ‘very large, concealed deposit’ at Morning Bill

Navarre Minerals ASX NML gold base metal diamond core drilling Morning Bill western Victoria
Navarre Minerals managing director Ian Holland says the results provide further evidence of a “very large” and concealed gold, silver and base metal system.

Advanced explorer Navarre Minerals (ASX: NML) has reported further strong gold results from maiden drilling at its wholly-owned Morning Bill prospect within the Glenlyle tenement in western Victoria.

The latest results come from the second and third diamond holes of a recently-completed eight-hole program for a total 2,994m and follows the release of “outstanding” gold and silver results from the first hole last week.

Highlight intercepts were 6.7m at 1.8 grams per tonne gold, 2.4g/t silver, 1.5% zinc, 0.4% lead and 0.1% copper from 208.6m, including 0.4m at 10.1g/t gold, 2.7g/t silver, 9.1% zinc, 4.8% lead and 0.2% copper; 0.4m at 8 g/t gold, 11.4g/t silver, 4.9% zinc and 0.2% copper; and 0.6m at 3.6g/t gold, 9g/t silver, 0.5% zinc and 0.2% lead from 363.7m.

Best gold results were 1.9m at 10.1g/t from 142.6m, including 1m at 16.5g/t gold, 216g/t silver and 2% zinc within a broader interval of 46.8m at 0.5g/t gold from 120.5m; and 2.5m at 3.7g/t gold from 364.9m, including 0.9m at 9.1g/t gold.

Also reported was 308m at 3 g/t silver from 72.6m, including 1.9m at 130g/t silver.

More high-grade results

Navarre managing director Ian Holland was looking forward to more high-grade results.

“[We have had] an excellent strike rate and while it is early days for exploring this mineral system, the results provide further evidence that we may be onto a very large, concealed gold, silver and base metals [deposit],” he said.

“The potential ‘ore grade’ levels of gold with silver and base metals mineralisation confirms our belief that Morning Bill could emerge as one of our best discoveries.”

Highly-anomalous mineralisation

The drilling program is Navarre’s first attempt to follow-up highly-anomalous gold-silver-copper-lead-zinc mineralisation intersected in aircore work carried out over a 1000m strike extent and a width of approximately 400m.

The first three diamond holes were drilled over a 350m strike extent into the northern end of Morning Bill and all intersected high-grade gold and associated polymetallic mineralisation.

Two of them were drilled on the southern end of the prospect as follow-up to broad zones of gold mineralisation previously reported as 76m at 0.4g/t gold from 14m to end of hole and 65m at 0.3g/t gold from 16m to end of hole.

The remaining hole was drilled into the centre of the prospect, targeting the widest part of a geophysical magnetic low generated from the company’s inversion modelling.

Mr Holland said results from the remaining five holes of the program will be released once geological logging, sampling, assaying and interpretation has been completed.

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