공지 • Apr 20
Navarre Minerals Limited Reports Significant New Assay Results from Recent Air-Core and Diamond Core Drilling at the Emerging Morning Bill Prospect
Navarre Minerals Limited report significant new assay results from recent air-core (AC) and diamond core drilling at the emerging Morning Bill prospect, a key prospect within its wholly-owned Glenlyle tenement (EL 5497) in western Victoria. The assays reported in this announcement are from a 3,295 metre program of infill and extension AC drilling targeting the potential for near surface mineralisation above and adjacent to diamond core drill hole GDD003. This hole returned many of the prospect's best assays to date, including 10.1 grams per tonne gold, 216 g/t silver, 1.2% copper, 9.1% zinc and 4.8% lead. Also in this announcement are assays from two diamond core holes that targeted a significant IP chargeability anomaly located at depth below Morning Bill. Navarre interprets Morning Bill's mineralisation as epizonal in style that is likely sourced from a deeper porphyry target. It occurs in the same regional volcanic belt that hosts the Cayley Lode copper discovery at the nearby Thursdays Gossan deposit, owned by Stavely Minerals. Morning Bill Air-core and Diamond Drilling The Morning Bill prospect is a large greenfields gold, silver and base metal discovery identified in 2018 as a result of a systematic exploration program undertaken by Navarre's geological team. The Company has completed a program comprising 3,295 metres of AC drilling across 41 holes and 1,170 metres of diamond core drilling across two holes at Morning Bill. Significant assay results have now been received for this drilling, including the highlight results of 3m at 4.2 g/t gold from within a broader interval of 16m at 1.0 g/t gold from 74m (GAC231) and 2m at 247 g/t silver from within a broader interval of 12m at 57 g/t silver (GDD008). The location of the new AC and diamond core drilling results is shown in Figure 2 relative to previously reported historical intercepts. 46m @ 8.1 g/t silver from 53m to end of hole, incl. 1m @ 252 g/t silver & 3.1 g/t gold (GAC030). 31m @ 6.1 g/t silver from 54m to end of hole, incl. 1m @ 155 g/t silver & 4.0 g/t gold (GAC042). 23m @ 30.3 g/t silver from 76m to end of hole, incl. 2m @ 245 g/t silver & 0.5 g/t gold (GAC054). 47m @ 11.8 g/t silver from 58m to end of hole, incl. 1m @ 390 g/t silver & 1.0 g/t gold (GAC055). 51m @ 7.3 g/t silver from 45m to end of hole, incl. 1m @ 248 g/t silver & 0.5 g/t gold (GAC057). 60m @ 2.0 g/t silver from 36m to end of hole (GAC058). 5m @ 1.0 g/t gold from 58m, incl. 1m @ 3.6 g/t gold (GAC077). 2m @ 1.7 g/t gold from 30m (GAC064). 46m @ 2.2 g/t silver from 54m to end of hole, incl. 1m @ 0.5 g/t gold & 0.5% zinc (GAC085). 3m @ 9.0 g/t silver & 0.1% copper from 57m (GAC079). 3m @ 1.6 g/t gold from 80m, from within 7m @ 1.0 g/t gold to end of hole (GAC101). 75m @ 12.6 g/t silver from 21m to end of hole, incl. 38m @ 23.5 g/t silver, 1m @ 301 g/t silver and 1m @ 207 g/t silver (GAC126). 84m @ 1.9 g/t silver from 36m to end of hole, incl. 1m @ 36.7 g/t silver (GAC127). 73m @ 1.4 g/t silver from 41m to end of hole, incl. 1m @ 17.3 g/t silver (GAC128). 78m @ 1.1 g/t silver from 41m to end of hole, incl. 7m @ 4.4 g/t silver (GAC124). 38m @ 7.8 g/t silver from 73m to end of hole, incl. 1m @ 41.5 g/t silver (GAC187). 65m @ 0.3 g/t gold from 16m to end of hole, incl. 1m @ 3.1 g/t gold (GAC156). 1.9m @ 10.1 g/t gold from 142.6m, incl. 1m @ 16.5 g/t gold, 216 g/t silver, 2.0% zinc from within a broader interval of 46.8m @ 0.5 g/t gold from 120.5 (GDD001). 2.5m @ 3.7 g/t gold from 364.9m, incl. 0.9m @ 9.1 g/t gold (GDD001). 76m @ 0.4 g/t gold from 14m to end of hole, incl. 1m @ 3.9 g/t gold (GAC189). 6.7m @ 1.8 g/t gold, 2.4 g/t silver, 1.5% zinc from 208.6m (GDD003) incl: 0.4m @ 10.1 g/t gold, 11.4 g/t silver, 9.1% zinc, 4.8% lead, 0.2% copper. 0.4m @ 8.0 g/t gold, 2.7 g/t silver, 4.9% zinc, 0.2% copper. The AC drilling program was designed to test for near surface extensions of gold-base metal veining intercepted in diamond hole GDD003 (up to 10.1 g/t gold, 1.2% copper, 9.1% zinc and 4.8% lead;) and refine alteration and pathfinder haloes centred over a prominent magnetic low feature (Figures 2 & 3). The drilling intersected a broad zone of sericite alteration containing sporadic quartz-pyrite-galena- sphalerite veining. As expected, this zone returned strongly anomalous gold, silver and base metals results which is helping to expand the limits of the metal zonation and alteration mapping being undertaken at Morning Bill for deeper targeted drill testing. The diamond drilling program was designed to test an IP chargeability anomaly at depth below the 1,100 metres by 400 metres surface footprint of Morning Bill. Two diamond drill holes, GDD008 and GDD009, were completed. Drill hole GDD008 intersected a broad zone of alteration, consisting mainly of pyrite, associated with a large fault on the fringes and central parts of the IP chargeability anomaly. The abundant disseminated pyrite and rare chalcopyrite intersected in this hole appears to explain the anomaly in this location. However, GDD009, collared approximately 700m further east of GDD008, intersected relatively unaltered green volcanic rocks devoid of any significant sulphide mineralisation and consequently returned no significant metal values. The drilling program has significantly improved the Company's understanding of the orientation, mineralisation patterns and controlling structures of the Morning Bill prospect: Morning Bill is believed to be an intermediate sulphidation epizonal lode system, characterised by base metal sulphide-gold-silver mineralisation; the lode is localised by, but not limited to, a 1,100 metre NNW-trending shear zone within andesitic volcanics; the lode mineralisation occurs as sulphide veinlets, quartz-carbonate-sulphide veins, vein networks and breccias; the tenor of the gold grade appears to become progressively stronger from shears to veins to vein networks and breccias, i.e., in areas of more open space fractures within the lode; there is a distinct alteration and metal zonation pattern providing potential vectors to higher grade shoots and parallel lodes: an alteration pattern grading inward from illite-smectite to illite to phengite to silica; and metal zoning from peripheral antimony through arsenic, lead and deeper central copper; at shallow depths, a gold and silver zone lies within an arsenic zone to the north and a lead zone in the central and southern end of the prospect; there appears to be no reason why mineralisation cannot continue to depth in the lead and especially the deeper copper zones. The lead and copper zones are also likely to be present below the northern arsenic and antimony zones; and other mineralised zones may be present outside the extents of the lode and there is evidence of other parallel lode structures based on similar alteration and metal zonation patterns intersected in reconnaissance AC drilling.
