Navarre Minerals Limited announced report further high-grade gold intercepts for the 2021 drilling campaign completed on the Crush Creek Gold Project, part of the recently acquired Mt Carlton Operation (Mt Carlton) in north Queensland. With drill intercepts of up to 211.6 grams per tonne of gold, the results continue to demonstrate the scope to upgrade both the confidence and tenor of the mineral inventory at Crush Creek. The results disclosed in this announcement have not been previously reported and cover the last thirteen drill holes completed in the 2021 drilling campaign across the advanced BV7 prospect and the early-stage Gamma target.

This drilling was carried out by Evolution Mining ahead of Navarre assuming formal ownership of the asset. Navarre anticipates these drilling results will inform an updated resource estimate for Crush Creek which is on-track to be reported in March 2022, along with an updated Mineral Resource and Ore Reserve statement for other Mt Carlton mineral deposits such as V2, A39, Telstra Hill and Mount Carlton United. The 2021 drilling program has involved two diamond and one reverse circulation (RC) drilling rigs, targeting the shallow resources at the advanced Delta and BV7 prospects as well as testing some regional targets.

In 2021 a total of 111 drill holes for 16,903 metres of drilling were completed, with hole lengths ranging from 40 metres to 347 metres, averaging approximately 150 metres. The drilling program at Crush Creek has paused for the wet season and is expected to resume in Second Quarter 2022. Planned RC and diamond drilling will test multiple shallow extensional and discovery targets within the Crush Creek tenements with the aim of extending the envelope of known mineralisation.

The Crush Creek Gold Project hosts low sulphidation epithermal gold mineralisation, which has significant potential to provide significant mine life extensions at Mt Carlton. The 2021 drilling campaign has focused on understanding and improving the Inferred mineral resources defined at the BV7 and Delta deposits, as well as providing initial testing for new discoveries within the broader Crush Creek project area. The results reported in this release are from the final thirteen diamond core holes completed across the BV7 and Gamma prospects, part of a 111-hole program comprising 16,903 metres of drilling.

The drilling is expected to upgrade and expand existing mineral resources at Crush Creek to build critical mass for high-grade new gold developments as potential satellite mill feed to the nearby Mt Carlton Operation. BV7: A total of 30 resource definition diamond core and RC holes for 3,852 metres of drilling were completed at BV7 during the 2021 field season. Interpretation of the drilling results confirm continuity of the high-grade lode system between current drilling levels and surface outcrops.

The drilling also indicates potential zones of extension of the prospective geology and alteration both below and to the north of the current lode system which will require further drilling. Significant new drilling intercepts from the BV7 prospect include: 3.1 metres at 211.6 g/t gold from 94.8 metres (B721DD039), 5.0 metres at 9.2 g/t gold from 96 metres (B721DD049), 4.0 metres at 5.1 g/t gold from 101 metres (B721DD056), 14.3 metres at 3.5 g/t gold from 121 metres (B721DD058C). These assays included: 3.0 metres at 47.2 g/t gold from 81 metres (B721DD043), 11.0 metres at 10.8 g/t gold from 39 metres (B721RC061), 24.0 metres at 3.1 g/t gold from 77 metres (B721RC042), 1.0 metres at 3.2 g/t gold from 116 metres (B721RC048), 3.0 metres at 5.2 g/t gold from 120m & 8.5 metres at 3.6 g/t gold from 163m (B721DD059), 19.0 metres at 4.1 g/t Au from 61 metres (B721DD060).

Gamma: The 2021 drilling program at Crush Creek included 25 drill holes into several early-stage, regional targets, including Gamma. This drilling has increased the geological knowledge across the broader Crush Creek project area, with results to be integrated into 2022 programs. The highlight result of 2.0 metres at 13.7 g/t gold in drill hole GA21DD010 has elevated Gamma as a priority drill target, similar in geometry to the Delta deposit, 700 metres further east. Detailed evaluation of the 2021 drilling results is nearing completion and will inform a new Mineral Resource and Ore Reserve estimate for the broader Mt Carlton Operation scheduled for reporting in March 2022.