Ongoing resource definition and exploration drilling within the Mt Carlton mining leases in North Queensland continues to deliver strong gold-silver-copper assays for Navarre Minerals (ASX: NML).
Drilling involved up to three rigs and aimed to expand the known limits of mineralisation at the V2 and A39 orebodies and the satellite Mt Carlton United (MCU) target.
At MCU, Navarre has completed 58 reverse circulation holes and three diamond core holes for 4,088 metres since November.
Best results to date are: 4m at 5.8 grams per tonne gold and 5.1g/t silver from 14m; 6m at 4.2g/t gold, 104.2g/t silver and 0.7% copper from 17m; 8m at 3.8g/t gold, 17.5g/t silver and 0.3% copper from 87m; 6m at 1.6g/t gold and 148.7g/t silver from 25m; and 11m at 1.3g/t gold and 73.3g/t silver from 18m including 4m at 2.8g/t gold and 91.5g/t silver from 25m.
MCU open pit
Ongoing exploration will support an open pit operation at MCU approved by the Queensland Government in October to supplement production from the V2 open pit mine.
Resource drilling in the first six months of 2022 increased the resource at MCU to 1.1 million tonnes grading at 3.41g/t gold equivalent for a contained 121,000 ounces of gold equivalent.
V2 and A39 results
At V2 and A39, results from 84 reverse circulation holes for 9,355m represented the final assays for drilling completed during the 2022 field season.
Best intercepts at these targets were 12m at 1.2g/t gold, 22g/t silver and 0.6% copper from 52m, and 12m at 2.6g/t gold, 17.8g/t silver and 0.6% copper from 100m (from V2 extension); and 29m at 99.3g/t silver and 0.2g/t gold from 124m, and 26m at 149.7g/t silver and 0.1g/t gold from 130m (from V2 to A39 copper zone).
The assays are believed to demonstrate the shallow, high-grade nature of the Mt Carlton deposits.
They will be incorporated into a resource update scheduled for release next month.
Prospectivity of Mt Carlton
Navarre managing director Ian Holland said drilling to date had highlighted the prospectivity of the broader Mt Carlton project area.
“The continued success of our exploration aimed at extending the V2, A39 and MCU orebodies has been very pleasing,” he said.
“These latest results reinforce the potential to substantially grow our existing mineral inventory and extend the mine life at Mt Carlton with additional gold, silver and copper ore.”
