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nav-navigator encouraging platinum results

  1. 4,005 Posts.
    Results at Wills Creek just north of Sally Malays Copernicus strike is pending.. should be a gooden. But needs to break above 16.5c for the real action to begin.. so no rush just yet, but a definite watch as NAV have several drilling programmes in operation at the moment in the East Kimberleys.

    Suite 2 47 Ord Street West Perth WA 6005 Ph. 08 9226 5311 Fax. 08 9226 5411
    PO Box 276 West Perth WA 6872 [email protected]
    MEDIA RELEASE
    27 January 2004
    NAVIGATOR INTERSECTS PLATINUM GROUP METAL
    OVER LARGE STRIKE LENGTHS IN EAST KIMBERLEY
    Final results from Navigator Resources recent drilling program at its Eastman project in
    the East Kimberley returned significant platinum group metal intercepts at all five
    prospects tested.
    The reconnaissance drilling program, completed in November, showed a best intercept
    of 1 metre @ 4.2 g/t platinum group metal and gold within a wider intercept of 6 metres
    @ 2.4 g/t platinum group metals and gold. These results were discovered under partial
    cover at the Brumby prospect.
    As announced in the interim results in November, the 50 hole reconnaissance drilling
    program for platinum group metals has tripled the strike length of the Eastman layered
    intrusion from six kilometers to approximately 20 kilometres. This has generated a
    significant number of new platinum group metal prospects requiring further
    assessment.
    Tom Sanders, Managing Director of Navigator, said the drilling program had more than
    achieved its goal by scoping the overall potential mineralisation. Drilling at the
    Longhorn prospect for example has opened up a strike length of 10 kilometres after
    each of the four drill holes in the prospective zone returned significant platinum group
    metals.
    “Our objective at Eastman is to establish a resource suitable for open pit mining and
    the shallow and widespread nature of mineralisation encountered is a big step in the
    right direction,” he said.
    Full results from the drilling program can be found in today’s ASX announcement. The
    mineralisation at Eastman is similar to the Panton deposit, also in the East Kimberley,
    as well as the UG2 deposits in the Bushveld Complex in South Africa.
    Navigator is a recently listed explorer seeking platinum group metals, nickel and gold
    on its prospects in the East Kimberley near the Great Northern Highway.
    In addition to drilling for platinum group metals at its Eastman project, the company is
    advancing nickel targets at Wills Creek, immediately north of the Copernicus discovery,
    and gold targets at Laura River, immediately north of the Nicholson Find gold treatment
    plant. The current prices for all three metals are strong, with platinum now at US$860
    per ounce.
    Further information: Tom Sanders
    Tel: 08 9226 5311
    Mob: 0417 992 908
 
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