| Announcement Date: | 2022-01-17 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Navarre Minerals Ltd. |
| Project name: | Mt Carlton |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 14m @ 6.8g/t Au, 23.0g/t Ag, 0.1% Cu from 34m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Navarre Minerals Limited (ASX: NML) (Navarre or the Company) is pleased to report outstanding highgrade gold, silver and copper drilling intercepts at its Mt Carlton United Prospect (MCU), part of the recently acquired Mt Carlton Operation (Mt Carlton) in North Queensland (Figures 1 & 2). With drill intercepts of up to 67.2 grams per tonne (g/t) gold, 1954 g/t silver and 11.9% copper, the results demonstrate the considerable scope to upgrade both the confidence and tenor of the existing mineral inventory at MCU, approximately four kilometres southwest of the Mt Carlton processing facility (Figure 2). The results disclosed in this announcement have not been previously reported and cover 154 drill holes completed during 2021 across MCU. This drilling was carried out by Evolution Mining Limited (ASX:EVN) ahead of Navarre assuming formal ownership of the asset (refer ASX announcement on 15 December 2021). While drilling continues in 2022 as part of an ongoing exploration program, Navarre anticipates the drilling results in this report will inform an updated resource estimate for MCU which is expected to be published in March 2022, along with an updated Mineral Resource and Ore Reserve statement for other Mt Carlton mineral deposits such as V2, A39, Telstra Hill and Crush Creek. |
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