Navarre Minerals has issued its Quarterly Report up to the 31st of March 2023, with significant gains in production and exploration projects over the quarter.

On the production front, the Mt. Carlton operation produced:

  • 4,098 ounces of gold (up 43% on pcp)
  • 159,907 ounces of silver (down 6% on pcp)
  • 338 tonnes of copper (up 24% on pcp)

Navarre also experienced substantial growth in ore reserves, with the Group Ore Reserve showing:

  • 308koz gold (up 48%)
  • 6.3Moz silver (up 112%)
  • 6.8kt of copper (up 215%)

Group Mineral Resources also saw significant gains, with gold reserves up 10% (791koz gold.)

Approximately 3,700 metres of drilling was completed at Mt Carlton to further define resources. The Queensland Government also funded a grant to drill test the priority SE IP target at Mt Carlton. Strong drilling results also highlighted the ongoing potential of Mt Carlton deposits.

Group unaudited cash stood at A$8.2 million. Navarre also secured a A$5 million share placement agreement with Lind Global Fund II, which was funded during the quarter.

Read the full report here: Quarterly Activities Report