Navarre Minerals Limited (ASX: NML) has announced a highly encouraging update on the drilling at the Resolution Lode within its Stawell Corridor Gold Project in western Victoria.
The company reported that significant new results were received for the first eight holes of an ongoing diamond drilling program testing for depth extensions of shallow gold mineralisation discovered at Resolution Lode on the eastern flank of the Irvine basalt dome.
NML said that gold mineralisation has now expanded beyond 300m depth and remains open down-plunge to the south.
Significant intersections (not true widths) include 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; 2.5m @ 6.1 g/t Au from 373.2m and 2.4m @ 6.0 g/t Au from 428.5m; 2.6m @ 5.5 g/t Au from 301.9m, contains a few specks of visible gold; 2.4m @ 4.4 g/t Au from 293.7m; and 3.1m @ 3.1 g/t Au from 204.3m.
Navarre noted that the significant broad zone of gold intersected in drill hole RD025 indicates that the lode channel is thickening and plunging gently towards the south.
NML announced that the results provide further evidence that the gold shoot dimensions at Resolution Lode are similar to those mined at the multi-million ounce Magdala gold deposit, on-strike 20km further north.
The company said that the ongoing diamond drilling program has been adjusted to target the projected positions of the shallow south plunging gold shoots at depth.
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.
Drilling at Stawell Corridor
The company had commenced a diamond drilling program designed to test for depth extensions to shallow gold discovered in air-core (AC) drilling at Resolution Lode.
Navarre said that it has completed a total of nine holes for approximately 2,900m of expansion diamond core drilling at Resolution Lode. This includes RD015, RD016, RD017, RD018, RD019, RD020, RD021, RD022, and RD025.
The company said that the drill program has been designed to test the continuity and extent of previously intersected shallow gold mineralisation by drilling beneath areas of our best AC drill results to establish geometry, tenor and plunge direction of the gold mineralisation; and then to systematically scope and evaluate the size of the mineralised system using a nominal 100m (N-S) by 80m (vertical) infill and step-out drill patter.
Significant historic intercepts from Resolution lode
Navarre had previously reported drill intercepts from Resolution Lode in December 2016, April 2017, May 2017, and May 2018.
Significant intercepts included 18.7m @ 7.1 g/t Au3 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 Au3 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 Au3 and 1.8m @ 6.4 g/t Au from within a broader zone of quartz stockwork veining of 10.8m @ 3.8 g/t Au from 244.1m in drill hole RD013; 3.8m @ 3.3 g/t Au from 107.1m in drill hole RD011
NML has now announced the results for eight diamond holes. The company said that these results represent Navarre’s first significant diamond drilling campaign, testing for potential economic mineralisation beneath the 1.6km discovery area.
High-grade results reported from 8 DD holes
Navarre announced that significant new assays results have been received for eight of the nine holes completed at Resolution Lode.
NML said that the assays for the remaining diamond hole are pending and will be reported in the coming weeks.
SIgnificant new results (not true widths) include 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 Au2 in drill hole RD025; 2.5m @ 6.1 g/t Au from 373.2m and 2.4m @ 6.0 g/t Au from 428.5m in drill hole RD016; 2.6m @ 5.5 g/t Au3 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 noted that the significant gold results returned from hole RD025 is a result of adjusting the drill program to test the southern plunge theory. However, the hole ended prematurely at 158m in a wide zone of mineralisation after suffering a technical issue.
NML said that a replacement drill hole, RD025A, is currently underway to test the full width of the mineralised structure at this position.
Interpretation of the new diamond results
The company announced that interpretation of the new diamond results at Resolution Lode indicates that gold occurs in two higher-grade gold shoots; the gold shoots appear to plunge gently to the south; the current drill program has been adjusted to target these shallow plunging gold zones; gold mineralisation has now been expanded beyond 300m depth and remains open; and the width of mineralisation in southern gold shoot appears to thicken towards the south.
NML also noted that the tenor of gold intersected within the gold shoots below the base of oxidation is consistent at between 4 and 6 g/t; the southern-most drill hole, RD025, has intersected a significant broad zone of auriferous quartz stockwork veining that appears similar to large stockwork zones mined at the Magdala gold deposit in Stawell; and importantly the drilling results returned to date continue to demonstrate continuity, predictability and robustness of the mineralised system at Resolution Lode.
Updates and next steps
The Company said that the COVID-19 pandemic, with its associated risks and restrictions to employee and contractor movements, has resulted in reducing its operating footprint from three diamond drilling rigs to one and suspension of regional reconnaissance air-core drilling.
NML said that it is currently continuing its diamond drilling evaluation of the depth potential at Resolution Lode with one rig on site operating during daylight hours on weekdays.
Navarre announced that will continue testing of the basalt flanks at the Irvine basalt dome using the air-core (AC) and diamond (DD) drilling techniques.
The company reported that the areas of positive AC and DD drill results are expected to be followed up with infill and expansion AC and Diamond drilling.
Expansion diamond drilling is expected to continue to scope the extents of the gold shoots, subject to weather conditions through autumn and any health and safety considerations resulting from government restrictions with respect to the COVID-19 global pandemic.
Capital for further work
Navarre said that it remains fully funded to continue its systematic drill testing of the geometry and depth potential of gold mineralisation at Resolution Lode, with a current working capital balance of approximately $6.7 million.
Management statements
Navarre’s Managing Director, Geoff McDermott, said: “These terrific diamond drill results from Resolution Lode are providing strong evidence for gold-shoot development, similar to that mined on the flanks of the Magdala basalt dome at Stawell’s 4 million-ounce Magdala Gold Mine, on-strike 20km further north.
The geometry and tenor of the two main gold zones identified at Resolution Lode are continuing to evolve. The recognition of an apparent gentle south plunge to the gold shoot geometry has provided an important geological break-through, allowing us to better target subsequent drilling to expand these gold zones at depth.
Drill hole RD025 is an example of this new understanding, despite terminating in 6.4 g/t gold mineralisation at 158m due to technical issues. RD025 is also our southernmost diamond hole and has returned one of our best and widest gold intercepts that remains open to the west and down-plunge.
Drilling is continuing to systematically 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 new results as we execute our drilling strategy.”