- Navarre Minerals (NML) has intersected high-grade gold at the Resolution and Adventure prospects in Victoria
- 12,000 metres of drilling was undertaken at Resolution to outline the depth and strike potential of the area before a maiden mineral resource is released
- Grades peaked at 55.7g/t gold and mineralisation is characterised by significant quartz veining with strong chlorite containing minor sulphides
- Diamond core drilling has now begun to test beyond the boundaries of the planned mineral resource
- Meanwhile, 2000 metres of drilling was undertaken at Adventure to scope the depth potential
- Navarre has received results for three of thee four holes drilled and grades peaked at 13.7g/t gold
- Following approvals, the company will begin an additional 2000-metre diamond core program
- Navarre is up 3.57 per cent and shares are trading at 14.5 cents
Navarre Minerals (NML) has intersected high-grade gold at the Resolution and Adventure prospects in Victoria.
Both prospects lie within Navarre’s 100 per cent owned Stawell Corridor Gold Project which is situated 237 kilometres northwest of Melbourne.
Resolution
At the Resolution Prospect, 12,000 metres of drilling was undertaken to outline the depth and strike potential before a maiden mineral resource is released by the end of the month.
Best new results include 0.5 metres at 55.7g/t gold from 508.9 metres and 3.1 metres at 3.1g/t gold from 331.3 metres including 0.7 metres at 11.2g/t gold.
Mineralisation is characterised by significant quartz veining with strong chlorite containing minor sulphides.
The high-grade gold is believed to occur within two shoots that plunge south and remain open at depth.
The southern shoot spans 1.3 kilometres in length, 400 metres in height and between 1.5 metres and six metres in width.
Diamond core drilling has now begun to test beyond the boundaries of the planned mineral resource.
“Our recently completed resource definition diamond core program at the Resolution prospect continues to deliver multiple strong intersections of gold mineralisation from within a well-defined lode channel,” Managing Director Ian Holland said.
“We remain highly confident on delivering our maiden mineral resource by the end this month, the first instalment of a growing resource base for our Stawell Corridor Gold Project,” he added.
Adventure
At Adventure, 2000 metres of diamond core drilling was undertaken to scope the depth potential.
Navarre has received results for three of the four holes drilled, and two of the highest grades intercepts have been recorded.
Significant new results include 8.4 metres at 3.4g/t gold from 405.6 metres including 0.9 metres at 13.7g/t gold, and 3.2 metres at 9.6g/t gold from 263.6 metres including 0.9 metres at 12.5g/t gold.
Following approvals, Navarre will begin an additional 2000-metre diamond core program.
Navarre is up 3.57 per cent and shares are trading at 14.5 cents at 11:28 am AEDT.