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    • Delayed Prices (USD) - Last Updated 27-06-2022
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    Navarre delivers further encouraging silver and gold assays at Glenlyle

    Navarre Minerals Limited (ASX: NML) has reported outstanding gold and silver results from the 8, 400 metre expansion AC drilling program at the Morning Bill prospect within its Glenlyle tenement in western Victoria.

    The results from the Morning Bill prospect included grades of up to 301 grams per tonne (g/ of silver and 1. 3 g/t of gold. The company said that the high-grade silver hits expand the potential of the Morning Bill prospect and provide further evidence Navarre is honing in on a large concealed polymetallic mineralised system.

    NML said that the new aircore results have spurred the immediate start to a 2,000 metre diamond core drilling campaign.

    Expansion drilling program at Glenlyle

    The company had recently completed an expansion drilling program at its Morning Bill prospect, the key area of focus on the Glenlyle tenement and surrounds. The drilling at Glenlyle is part of Navarre’s broader regional drilling program which was expanded to approximately 25,000 metres.

    In all, the drilling covered 8,388 metres of AC drilling across 102 angled holes. Of these, 63 holes were on the Morning Bill prospect, covering 5 508 metres. The remaining 39 holes explored regional targets elsewhere on the G lenlyle tenement, covering 2 880 metres.

    The company has now reported impressive intercepts from the latest 25 AC holes.

    High-grade silver and gold assays

    The company said that the drilling detected strongly anomalous gold, silver, lead, and zinc grades along more than 700 metres of strike (north west to south east) and approximately 400 metres in width.

    Significant silver intercepts included 75 metres at 1 2.6 g/t silver from 21m to end of hole, including 38m @ 2 3.5 g/t silver, 1m @ 301 g/t silver and 1m @ 207 g/t silver; 84m @ 1.9 g/t silver from 36m to end of hole, including 1m @ 36.7 g/t silver; 73m @ 1.4 g/t silver from 41m to end of hole, including 1m @ 17.3 g/t silver; and 78m @ 1.1 g/t silver from 41m to end of hole, including 7m @ 4.4 g/t silver.

    Important gold hits included 1m @1.3 g/t gold from 99m (GAC123); 1m @1.2 g/t gold from 45m GAC128; 1 m @ 1.2 g/t gold from 76m GAC127; and 1m @ 1.1 g/t gold from 28m GAC126.

    NML said that the results from Morning Bill double the previously identified mineralisation to 700 metres of strike, with the potential to expand this further pending results from the remainder of the program.

    Diamond drilling commenced

    NML said that the new aircore results have spurred a diamond drilling program. The company said that the follow up program comprise 2,000 metres of diamond core drilling to test under the best AC drilling results. The company said that the first diamond core hole (GDD001) has just commenced at the Morning Bill prospect.

    Next steps

    The company said that further work would include receiving, verifying, and reporting outstanding assays from the recently completed 8,400 metre AC program; and completing the current 2,000 metre diamond core program, and reporting results. NML noted that areas of positive AC drill results are expected to be followed up with infill and expansion AC and/ or diamond drilling programs .

    Management comments

    Navarre’s Managing Director, Ian Holland, said: “The latest air-core drilling results are outstanding and we have immediately kick-started a diamond core drilling campaign to test the depth extents of a potentially large polymetallic mineral system on the Glenlyle tenement.

    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.

    We are also encouraged by both 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.”

    *Image source: Navarre Minerals Limited

    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 27-06-2022
    • Gold $1,826.40
    • Silver $21.14
    • Platinum $908.00
    • Palladium $1,802.00
    • Dalian Iron Ore i2209 $113.98
    • Aluminium $2,456.00
    • Cobalt $72,400.00
    • Copper $8,381.00
    • Lead $1,915.00
    • Nickel $22,400.00
    • Tin $24,590.00
    • Zinc $3,350.00