Navarre Minerals (ASX: NML)
Navarre Minerals (ASX:NML), which is exploring for gold next to known reserves of high-grade gold in Victoria’s Golden Triangle, has released first results from its 4,000m air core drill program.
And the results are highly positive.
Early high grade results have confirmed the presence of shallow primary gold mineralisation – open in all directions…
These results will now form the basis of what could start the main event for NML: a follow-up diamond drill program to be initiated in early 2017.
NML is cashed up and ready for its next phase of exploration.
Following a recent capital raising, this tightly held company has around $2M in the bank account, and is now looking for a significant discovery from its current and future drill program that it hopes will quickly boost its $10 million market cap.
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Operating in an area known for its historic gold mineralisation, early indications are that NML could repeat past successes in the area and capitalise on the current positive sentiment towards this precious metal.