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Navaho Gold Intersects Anomalous Silver At Utah Clipper, Nevada

Navaho Gold (ASX: NVG) has completed the first diamond drill hole at its Utah Clipper Project in Nevada intersecting anomalous silver of up to 65.1 grams per tonne (g/t).

The silver mineralisation previously intersected in the upper part of the hole has been found to extend down the entire length of the hole.

Highlights include 7.6 metres at 14.5g/t silver from 697.4 metres, 2.7 metres at 15.9g/t silver from 960.1 metres and 2.4 metres at 65.1g/t silver from 1,115.7.

The potential zone of shallow silver mineralisation extends over a strike length of 2.8 kilometres and has now been confirmed to extend to depth.

This is supported by a historic drill hole that intersected silver zones to a depth of 326.1 metres.

Extensive silver mineralisation is known to occur close to several Carlin-style deposits in Nevada.

Meanwhile, a strongly fractured, altered pyrite-rich dyke within a thrust zone returned 5.9 metres at 0.12g/t gold from 1,077.5 metres.

The significance of this result is Carlin-style mineralisation is often associated with dykes of this type.

Another zone, of 4.1 metres at 0.1g/t gold from 1,141.5 metres, was intersected in strongly fractured and silicified Lower Plate rocks.

Both gold zones recorded anomalous pathfinder elements indicative of Carlin style mineralisation.

Navaho Gold is now planning a second drill hole at the Utah Clipper Project, possibly using the rotary mud drilling method to reduce the costs and time associated with bad ground conditions.

Mark Dugmore, managing director, said although it was a technically difficult hole to drill, Navaho now has a handle on the depth to the prospective Lower Plate rocks.

"This, along with the elevated levels of geochemistry (particularly silver, gold and associated pathfinder elements) gives us encouragement to review our geological interpretation of the area and, given the close proximity to Barrack's Pipeline-Cortez operations, target a further drill hole to test one of the remaining targets.

"Consideration will be given to the use of a large capacity open-hole drilling rig for any future drilling to reduce costs and the drilling time."

The Utah Clipper Project is subject to a farm-in agreement with Columbus Gold Corp (TSX‐V: CGT) under which Navaho can earn a 70% interest in the project.

Proximity to Barrick Gold

The Utah Clipper Project is located directly adjacent to Barrick Gold Corporation's (TSX: ABX, NYSE: ABX) Pipeline‐Gold Acres gold mine complex in the Cortez‐Pipeline sector of the Battle Mountain Trend, a trend that has produced in excess of 25 million ounces of gold.

The targets at Utah Clipper are located in structural settings analogous to the Cortez Hills deposit, where 6 kilometres southeast Barrick Gold announced two significant gold discoveries with the potential to become greater than 5 million ounce deposits.

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