Native Mineral Resources Says Drilling at Queensland Gold Project Confirms Shallow, High-Grade Mineralization; Shares Jump Above 11%

MT Newswires Live

04-10

Native Mineral Resources Holdings (ASX:NMR) said assay results from the diamond drilling program at its Blackjack gold project in Queensland confirmed shallow, high-grade gold mineralization at the Newton Butler pit as well as a shallow near-surface ore extension of the historic mineralization, according to a Thursday Australian bourse filing.

"Significant" intercepts from the drilling included 3 meters at 8.5 grams per tonne (g/t) grade of gold from 52 meters as well as 1.1 meters at 0.4 g/t grade of gold from about 47 meters.

The diamond drilling of shallow holes is designed to twin historic holes to confirm the reliability of historic drilling. The holes extended past the depth of the original twin hole and intersected mineralization at a greater depth, per the filing.

The company continues to advance the refurbishment of its Blackjack processing plant.

Native Mineral Resources' shares jumped past 11% in recent trading on Thursday.

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