Navarre Minerals (ASX:NML) announces “outstanding” results from Mt Carlton United, QLD – The Market Herald

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  • Navarre Minerals (NML) reports ‘exceptional’ high-grade gold, silver and copper drill intersections from its Mt Carlton United (MCU) deposit in North Queensland
  • The company undertook 71 holes for 5451 meters of drilling with the aim of filling and extending the known limits of the gold, silver and copper mineralized system.
  • Navarre says the results confirm the exceptional grade and continuity of the mineral inventory at MCU, part of the recently acquired Mt Carlton operation
  • Navarre expects drill results to inform an updated resource estimate for MCU, which is expected to be released in September
  • Navarre Minerals last traded at 9.3 cents at 10:25 a.m. AEST

Navarre Minerals (NML) has reported “exceptional” high-grade gold, silver and copper drill intersections from its Mt Carlton United (MCU) deposit in north Queensland.

The company undertook 71 holes for 5451 meters of drilling during the first quarter of 2022.

The drilling program involved a reverse circulation drill rig and a diamond drill rig, with the aim of filling in and extending the known boundaries of the gold, silver and copper mineralized system.

Results returned drill intersections of up to 22.9 grams per tonne (g/t) gold, 1327 g/t silver and 4.2% copper. Navarre said the results confirm the exceptional grade and continuity of the mineral inventory at MCU, part of the recently acquired Mt Carlton operation.

This is Navarre’s first drilling at Mt Carlton since officially owning the asset.

Navarre chief executive Ian Holland said the results represent an important milestone for the company since becoming a gold producer.

“The resource definition drilling program has confirmed the continuity, grade and width of the high-grade gold, silver and copper system at the Mt Carlton United prospect,” said Ian Holland.

“Just four kilometers west of the processing facility, the defined gold-silver-copper mineralization at MCU has the potential to significantly extend mine life at Mt Carlton.”

Navarre said it expects the drill results in this report to inform an updated resource estimate for MCU, which is expected to be released in September.

This is expected to be joined by updated Mineral Resources for other Mt Carlton deposits including V2, Telstra Hill and Crush Creek.

Navarre Minerals last traded at 9.3 cents at 10:25 a.m. AEST.

Tana T. Thorsen