SURFACE

Navarre moves to sunshine state

The MCU deposit is about 4km from the 960,000 tonne per annum Mt Carlton mill.

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Mt Carlton includes 815sq.km of highly prospective tenements.

The northern Queensland MCU project is the first of five satellite open pit deposits in the tenement package included in Navarre's acquisition of the operations from Evolution Mining in October 2021.

The MCU deposit is about 4km from the 960,000 tonne per annum Mt Carlton mill.

Mineral resources at MCU include 1.1 million tonnes grading at 3.41 grams per tonne gold for 121,000 ounces of contained metal.

Navarre managing director Ian Holland said the key permitting step allowed for the immediate start of MCU mining operations.

"MCU offers a new source of higher-grade gold, together with significant silver and copper by-product credits to supplement existing production from the V2 open pit," he said.

"MCU is anticipated to contribute to a strong production and cashflow forecast for the second half of 2023 and into 2024."

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