Navarre is closing in on a potential large concealed polymetallic mineralised system at the Morning Bill prospect within its Glenlyle project in Victoria.

This follows the receipt of further encouraging silver and gold assays topping up at 301 grams per tonne (g/t) silver and 1.3g/t gold from its recently completed expansion aircore drilling program on the greenfields (unexplored) tenement.

Drilling has now detected strongly anomalous gold, silver, lead and zinc grades over a mineralised footprint of about 400m by 700m that remains open along strike and at depth.

This provides potential to grow the mineralisation with more drilling.

Navarre Minerals (ASX:NML) has now started a 2,000m diamond drilling program to drill under the best aircore results at Morning Bill.

“The latest aircore drilling results are outstanding and we have immediately kickstarted a diamond core drilling campaign to test the depth extents of a potentially large polymetallic mineral system on the Glenlyle tenement,” managing director Ian Holland said.

“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.”

navarre minerals morning bill section silver
Morning Bill prospect longitudinal projection showing silver zones relative to magnetic isosurfaces. Pic: Supplied

Glenlyle exploration

The completed aircore drilling program consisted of 102 holes totalling 8,388m with 63 of these targeting the Morning Bill prospect.

The remaining 39 holes were drilled on regional targets elsewhere on the Glenlyle tenement.

Assays received from the latest 25 holes returned results such as:

  • 75m at 12.6g/t silver from 21m to the end of hole that includes the top 1m at 301g/t silver intercept (GAC126);
  • 84m at 1.9g/t silver from 36m to the end of hole (GAC127); and
  • 1m at 1.3g/t gold from 99m (GAC123).

Orientation of mineralisation and the controlling structures at the Morning Bill prospect are poorly understood at this early stage of exploration, which Navarre expects to remedy through the diamond drilling.

This article was developed in collaboration with Navarre Minerals, 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.