Navarre remains very bullish on Resolution's gold potential

NAVARRE Minerals continue to claim its Resolution Lode gold prospect south of Stawell in Victoria has strong potential to host a “substantial mineral resource”.
Navarre remains very bullish on Resolution's gold potential Navarre remains very bullish on Resolution's gold potential Navarre remains very bullish on Resolution's gold potential Navarre remains very bullish on Resolution's gold potential Navarre remains very bullish on Resolution's gold potential

Navarre coring away in Victoria

The best-looking hit from a handful of new results reported today was 5m at 10 grams per tonne from 274m.

A 10,000m diamond core drilling program is underway with a maiden resource estimate pegged for the end of quarter one, 2021.

"The style and geometry of gold mineralisation is similar to the multimillion ounce Magdala gold deposit, on-strike 20km further north, where gold has been mined from surface to 1.6km depth," Navarre said. 

The explorer has about $12 million cash.

A second rig is to be deployed early next month to accelerate work, with a third potentially being brought in too.

Preliminary metallurgical work is also planned.

Shares in Navarre were up 13% to 13c in morning trade, capitalising the company at $70 million.