- Navarre Minerals (NML) has delivered maiden mineral resource estimates and exploration targets for the Resolution and Adventure prospects
- These prospects are part of Navarre’s Stawell Corridor Gold Project in western Victoria
- Resolution has an inferred mineral resource of 3.2 million tonnes at 2.6g/t gold for 264,000 ounces, which was delivered using data from 210 drill holes
- Navarre plans to drill the prospect to extend gold mineralisation and, potentially, the inferred mineral resource
- The Adventure prospect’s inferred mineral resource sits at 680,000 tonnes at 1.8g/t gold for 40,000 ounces
- Navarre is now drilling at Adventure with the aim of converting the exploration target to additional mineral resources
- Company shares are trading in the grey at 16 cents
Navarre Minerals (NML) has announced maiden mineral resource estimates and exploration targets for the Resolution and Adventure prospects.
These prospects are part of Navarre’s Stawell Corridor Gold Project in western Victoria.
Resolution
The Resolution prospect has an inferred mineral resource of 3.2 million tonnes at 2.6g/t gold for 264,000 ounces.
This resource estimate was delivered using data from 210 drill holes, for 23,465 metres, on an 80-metre-by-80-metre grid.
Due to there being strong potential to extend gold mineralisation along strike, Navarre plans to conduct extension drilling which may also expand the inferred mineral resource.
Additionally, Resolution’s exploration target sits at between 2.4 million and 3.6 million tonnes at a grade of between 2g/t and 3g/t gold for 200,000 to 300,000 ounces.
Adventure
The Adventure prospect has an inferred mineral resource of 680,000 tonnes at 1.8g/t gold for 40,000 ounces.
The mineral resource was delivered using data from 240 drill holes, for 17,952 metres.
“The delivery of a maiden mineral resource and associated exploration target is a significant milestone for the company and confirms both the Resolution and Adventure prospects as quality gold deposits with outstanding economic potential,” Managing Director Ian Holland said.
Adventure’s exploration target sits at between one million and 1.6 million tonnes at a grade of between 2g/t and 3.2g/t gold for 80,000 to 120,000 ounces.
Navarre plans to conduct drilling at the Adventure prospect as it believes there’s strong potential to convert the exploration target to additional mineral resources.
Company shares are trading in the grey at 16 cents at 12:31 pm AEDT.