Navarre: ‘Morning Bill could emerge as one of our best mineral discoveries’
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New results from Morning Bill – including a highlight 1m intercept grading 16.5 g/t gold and 216 g/t silver –provide strong evidence of a “large, concealed gold and silver system with polymetallic potential”, Navarre says.
Navarre Minerals (ASX:NML) has reported its best ever gold hit from its maiden diamond drilling program at its wholly-owned Morning Bill prospect, a recent greenfields discovery in western Victoria.
A highlight assay of 1m grading 16.5 g/t gold from within 1.9 metres at 10.1 g/t gold, 130 g/t silver, 0.4% lead and 1.3% zinc was returned from the first diamond hole of the program. Remarkably this intercept occurs within a broad zone of anomalous silver assaying 3.0 grams per tonne over a 308 metre down hole interval in drill hole GDD001.
The Morning Bill prospect was discovered by Navarre in 2018 and is located 25 kilometres south-west of Ararat within the Dryden-Stavely Volcanic Belt – the same belt of rocks that plays host to Stavely Minerals’ (ASX:SVY) emerging Cayley Lode copper discovery.
Navarre’s latest assays come from the first of eight diamond core holes, as well as all 22 holes of air-core (AC) drilling completed at the prospect.
This diamond program is designed to identify what ‘controls’ the mineralisation at Morning Bill so Navarre can dial in on the potential motherlode.
The aircore drilling also hit strongly anomalous gold, silver, copper, lead and zinc grades over an area 1km long and 400m wide.
“We are extremely excited about the results from the first ever diamond hole drilled beneath the shallow mineralised footprint we have uncovered at our greenfields Morning Bill prospect,” Navarre managing director Ian Holland says.
“While it is early days for exploring this mineral system, the potentially economic levels of gold with silver and base metals mineralisation confirm our belief that Morning Bill could emerge as one of our best mineral discoveries.
“This is alongside our other exciting discoveries at Resolution, Adventure and Tandarra in Victoria.”
The latest results provide further evidence that Navarre may be onto a very large, concealed gold, silver and base metals system, Holland says.
“We look forward to sharing with you the results from the remainder of our initial diamond core drilling program, which tested the vertical extensions beneath our best air-core drilling results.”
The results from the remaining seven diamond holes are pending and are expected to be released following completion of geological logging, sampling, assaying and interpretation.
This article was developed in collaboration with Navarre, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.