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Navarre Minerals Ltd.
Summary
| Project: | Stawell Corridor | |
|---|---|---|
| Deposit: | Glenlyle | |
| Location: | Australia | |
| Commodities: | Gold-Silver | |
| Date: | 3/21/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-3-2019: Navarre Minerals Ltd. announces an Exploration/Drilling Update report for its Glenlyle deposit at the Stawell Corridor project. Drilling results incl. 23m @ 0.1g/t Au, 30.3g/t Ag from 76m. Navarre Minerals Limited (Navarre or the Company; ASX: | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Shane Mele (Internal) | |
| ABSTRACT: | Navarre Minerals Limited (Navarre or the Company; ASX: NML) is pleased to announce results from its second phase of air-core (AC) drilling at its 100%-owned Glenlyle Project (EL 5497) in western Victoria, Australia (Figure 1). The Glenlyle Project is located approximately 25 kilometres north of Stavely Minerals Limited’s (ASX: SVY) Thursday’s Gossan porphyry copper - gold project in the Stavely Arc Volcanic Complex (see Figure 2), where Stavely Minerals have recently intersected bornite mineralisation, considered a strong vector for large porphyry systems. The best drill intersection returned from Navarre’s second phase of drilling is 23m @ 30.3 g/t silver, including 2m @ 245.0 g/t silver, 0.5 g/t gold, and 0.1% zinc intersected in hole GAC054 (Figure 4). On the same drill section, GAC055 intersected 47m @ 11.8 g/t silver, including 1m @ 390.0 g/t silver (highest silver grade recorded to date), 1.0 g/t gold, 0.3% lead, and 0.7% zinc (Figure 4). Also, on the same section, hole GAC042 recorded the highest gold result to date for the project with an assay of 1m @ 4.0 g/t gold from within a broader zone of silver mineralisation assaying 31m @ 6.1 g/t silver from 54m to the end of hole (Figure 4; Table 1). All three drill holes ended in mineralisation and occur within a broader (approximately 150m wide) envelope of anomalous silver mineralisation, assaying between 1 g/t and 12 g/t Ag, which remains open to the east, at depth and to the north. This broad silver zone is associated with pervasive sericite – pyrite al | |
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