Results from first diamond drilling at Morning Bill indicate a ‘large gold, silver and base metal system’
Link copied to
The near-surface gold and silver mineralisation at ‘Morning Bill’ – interpreted to be epithermal in style, potentially situated next to a larger porphyry target – remains open along strike and at depth, Navarre says.
Navarre Minerals (ASX:NML) has reported impressive gold, silver and base metal results at its 1,100m long, ~400m wide Morning Bill prospect, a key early stage target within its Glenlyle tenement in Victoria.
The company’s first diamond drilling program at Morning Bill, comprising eight holes for 2,994 metres of drilling, has hit variably broad to strong gold, silver and associated polymetallic mineralisation.
Highlight intercepts for the program include:
While it’s early days for exploring this mineral system, Navarre is extremely pleased with the results it is getting from Morning Bill, managing director Ian Holland says.
“They provide strong evidence that we are onto a very large, concealed gold, silver and base metals system,” he says.
“The potential ‘ore grade’ levels of gold with silver and base metals mineralisation confirm our belief that Morning Bill could emerge as one of our best mineral discoveries.
“We are presently undertaking a major geophysics program to provide a high-quality 3D model for the greater Morning Bill prospect, ahead of an aggressive drilling program to commence at the end of this year.”
While the Stawell Corridor gold project remains Navarre’s flagship venture as it transitions from explorer to developer, the Glenlyle venture is considered by the company to be one of western Victoria’s most exciting mineral projects.
The company is engaging in expert analysis to guide the next stage of exploration, which is expected to cover a further 5,000 metres of diamond core drilling and 8,000 metres of AC drilling scheduled for later this year.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.