- Gold explores Navarre Minerals (NML) has reported highly encouraging gold intercepts from its ongoing aircore (AC) drilling program at St Arnaud Gold Project in Victoria
- The company has received the first results from a reconnaissance aircore (AC) program on the New Bendigo Line
- The latest assays include a standout broad gold intercept of 20 metres at 1.8g/t of gold
- With 4000 metres of drilling completed, the AC program is likely to be extended beyond 5000 metres
- Navarre Minerals is down 3.03 per cent this morning and is trading at 16 cents per share
Navarre Minerals (NML) has reported highly encouraging gold intercepts from its ongoing aircore (AC) drilling program at St Arnaud Gold Project.
The Victorian gold explorer has received the first results from a reconnaissance aircore (AC) program on the New Bendigo Line, showing strong gold mineralisation from wide-spaced drilling.
Navarre’s target area forms one of three main trends of St Arnaud Goldfield, which historically produced 400,000 ounces of gold.
The latest assays include a standout broad gold intercept of 20 metres at 1.8g/t of gold in hole SAC145, 180 metres north of the New Bendigo Gold Mines, the second-largest gold mine within St Arnaud Goldfield.
With 4000 metres of drilling completed, the AC program is likely to be extended beyond 5000 metres.
The results are from nine out of 12 traverse lines across the New Bendigo Line, representing 1240 metres of drilling in 19 AC holes.
Managing Director Ian Holland is pleased with these results from the first reconnaissance drilling campaign.
“We are currently drilling in the shadow of St Arnaud’s second-largest historical mine, the New Bendigo Shaft and we are encouraged by the tenor and widths of the near-surface gold mineralisation intersected to date,” he said.
St Arnaud is the second-largest hard-rock goldfield in Victoria’s Stawell Geological Zone which, until now, has missed out on Victoria’s gold resurgence. We look forward to sharing strong news-flow over the coming months from this premier mineral property,” he added.
Navarre Minerals is down 3.03 per cent this morning and is trading at 16 cents per share at 11:42 pm AEDT.