Navarre Minerals Limited (ASX: NML) has uncovered further gold assay results from the ongoing diamond drilling program at its Resolution Lode prospect within its Stawell Corridor Gold Project in western Victoria.
The company reported that the Resolution Lode continues to deliver strong, consistent grades of gold mineralisation in an ongoing 9,000m expansion diamond core drilling program.
Significant new intersections include 2.9m @ 6.2 g/t Au from 187.3m within a broader zone of 9.4m @ 2.6 g/t Au; 2.0m @ 9.9 g/t Au from 235.8m within a broader zone of 11.9m @ 1.8 g/t Au; and 1.0m @ 20.8 g/t Au from 358.6m within a broader zone of 10.3m @ 2.2 g/t Au.
NML reported that a second zone of gold mineralisation was identified approximately 50m west of main gold zone. The company said that gold mineralisation was confirmed from surface to beyond 300m depth and remains open down-plunge.
Navarre noted that the style and geometry of gold mineralisation are similar to the multi-million-ounce Magdala gold deposit, on-strike 20km further north, where gold has been mined from surface to 1.6km depth.
NML said that drilling is targeting a potential Mineral Resource by scoping the down-plunge extents of shallow gold mineralisation.
The company said that a further 5,000m of diamond core drilling remains to be completed with drilling operations to continue through winter and moving towards a 24/7 basis.
Stawell Corridor gold project
Navarre’s Stawell Corridor Gold Project (incorporating the Irvine and Langi Logan gold projects and five other basalt dome targets) captures 60 kilometres of a multi-million-ounce gold zone, stretching south from the recently re-opened Stawell Gold Mine.
The project comprises of two multi-million-ounce goldfields – the 5Moz Stawell and 1Moz Ararat goldfields.
Navarre’s most advanced prospect is the Irvine basalt dome, with previous drilling confirming extensive shallow gold footprints at the Resolution and Adventure lodes with a combined strike length of 2.9km along the eastern contact of the Irvine basalt dome.
Another important prospect within the Stawell Corridor gold project is the Langi Logan basalt dome, which consists of the Langi Logan North, Langi Logan Central, and the Langi Logan South Cambrian basalt domes with a combined 12km strike length.
Diamond drilling program
The company had commenced a 9,000m diamond drilling program to scope the depth potential of the 1.6km long Resolution Lode discovery with the aim of delivering a maiden mineral resource in early 2021.
The company said that to date, 12 holes have been completed for approximately 4,000m of diamond core drilling (~45% complete) at Resolution Lode.
NML said that the drill program is testing the continuity and extent of previously intersected shallow gold mineralisation by drilling beneath areas of our best air-core drill results to establish geometry, tenor and plunge direction of the gold mineralisation; and then scoping the dimensions of the mineralisation using a nominal 100m (N-S) by 80m (vertical) infill and step-out drill pattern.
The company announced that significant new assays results have been received for the ongoing drilling program at Resolution Lode.
Highlight new results include 2.9m @ 6.2 g/t Au from 187.3m within a broader zone of 9.4m @ 2.6 g/t Au in RD023; 2.0m @ 9.9 g/t Au from 235.8m within a broader zone of 11.9m @ 1.8 g/t Au in RD024; 1.0m @ 20.8 g/t Au from 358.6m within a broader zone of 10.3m @ 2.2 g/t Au in RD024; and 5.5m @ 0.5 g/t Au from 355.7m ending in mineralisation in RD022.
NML said that these intercepts complement previously reported drill intercepts from Resolution Lode.
Significant intercepts reported earlier include 18.7m @ 7.1 g/t Au1 from 196.3m, including 5.7m @ 11.6 g/t Au in drill hole RD006; 10.6m @ 6.2 g/t Au from 135.7m, including 3.3m @ 16.9 g/t Au in drill hole RD012; 4.0m @ 9.8 g/t Au1 from 72.0m in drill hole RD002; 6.0m @ 6.3 g/t Au from 66m in drill hole IAC018; 2.9m @ 12.9 g/t Au from 79.7m, including 0.7m @ 47.2 g/t Au in drill hole RD001; 4.6m @ 6.2 g/t Au and 1.8m @ 6.4 g/t Au from within a broader zone of quartz stockwork veining of 10.8m @ 3.8 g/t Au1 from 244.1m in drill hole RD013; 3.8m @ 3.3 g/t Au from 107.1m in drill hole RD011; 7.7m @ 5.6 g/t Au from 141.8m and 3.9m @ 4.4 g/t Au from 154.8m within a broader zone of 18.7m @ 3.4 g/t Au in drill hole RD025 (hole ends in mineralisation); 2.5m @ 6.1 g/t Au from 373.2m and 2.4m @ 6.0 g/t Au1 from 428.5m in drill hole RD016; 2.6m @ 5.5 g/t Au1 from 301.9m in drill hole RD015; 2.4m @ 4.4 g/t Au from 293.7m in drill hole RD018; and 3.1m @ 3.1 g/t Au from 204.3m in drill hole RD019.
The company said that the new gold results are interpreted to occur in two steeply west-dipping structures that cut across, at an acute angle, an interbedded package of meta-sediments and thin basalt flows within 100m of the main Irvine basalt dome.
The company said that the higher-grade gold mineralisation has been interpreted to occur within two lode channels or shoots that plunge gently towards the south and remain open down-plunge.
The South Shoot, with more drill information, has approximate dimensions of up to 300m in height, 500m down-plunge (open to the south) and between 1.5 – 5m in width.
The North Shoot has been defined by shallow air-core drilling and has a lower tenor of grade when compared to the South Shoot. The company said that deeper diamond core drilling is planned for the North Shoot later this year. NML noted that the gold shoot geometry appears analogous to that of the Magdala gold deposit.
Interpretation of the diamond results
Navarre Minerals said that the interpretation of the diamond results at Resolution Lode indicates that gold mineralisation occurs in two higher-grade shoots; the gold shoots plunge gently to the south; gold mineralisation extends to beyond 300m depth and remains open; gold tenor is relatively uniform, averaging between 4 and 6 g/t below the base of oxidation; and the width of gold mineralisation generally ranges between 1.5m and 5m.
NML said that a second significant sub-parallel zone of gold mineralisation has been identified approximately 50m west of the main gold zone; and the drilling results returned to date continue to demonstrate continuity, predictability, and robustness of the mineralised system at Resolution Lode.
NML announced transition drilling to 24/7 operations to increase diamond core productivity, subject to any health and safety considerations resulting from government restrictions due to the COVID-19 global pandemic.
The company said that it plans to extend RD022 by drilling through anomalous gold and arsenic zone.
NML said that it plans to complete program of expansion diamond drilling at South Shoot through winter using an existing all-weather access track. The company said that it would resume diamond drill testing at North Shoot in October following the conclusion of winter rains.
Navarre said that it expects to estimate a potential Mineral Resource by Q1 2021.
The company reported that approximately 5,000m of diamond drilling remains to be completed with results expected to be reported in batches of between 4 and 6 drill holes following receipt of assays and interpretation of geology.
Navarre reported that it will continue testing of the basalt flanks at the Irvine basalt dome using air-core and diamond drilling techniques. The company said that areas of positive drill results are expected to be followed up with infill and expansion diamond drilling.
Navarre’s Managing Director, Geoff McDermott, said: “Our ongoing diamond drilling program at Resolution Lode is continuing to deliver consistently strong grades of high-grade gold mineralisation from within a well-defined lode channel extending from surface to beyond 300m depth. It remains open down-plunge.
The geometry and style of gold mineralisation at Resolution Lode is similar to the nearby 4Moz Magdala gold deposit, where gold has historically been mined from surface to 1.6km depth, indicating the potential for a similar large gold deposit at Resolution Lode.
Step-out drilling is planned to continue through winter to evaluate the size, continuity and tenor of gold mineralisation at Resolution Lode in order to see if it has what it takes to deliver Victoria’s next major gold deposit. We look forward to sharing the next round of results as we continue our drilling strategy.”