Navarre Minerals Limited (ASX: NML) has announced high-grade assay results including 2m @ 1.2 g/t gold and 1 metre at 2.4 g/t gold from the recently completed reconnaissance air-core (AC) drilling program.
The drill program was completed at the prospective east and west margins of the Langi Logan north basalt dome within its Langi Logan Gold Project in Victoria, Australia.
The company said that the new drill results from the 3,400 metre reconnaissance air-core drilling program has identified a major fault offset target and enhanced the potential scale of the mineralised gold system at Langi Logan.
NML said that an extensive 2.5 kilometre-long segment of mineralised Langi Logan North basalt dome was identified northwest of previous known limits using combination of gravity and sparse historical air-core drilling data.
Navarre said that the preparations for further reconnaissance air-core drilling are currently underway to scope the gold potential of the fault offset target.
Part of Stawell Corridor gold project
Navarre’s Stawell Corridor Gold Project incorporates the Irvine and Langi Logan gold projects and five other basalt dome targets and captures 60 kilometres of a multi-million-ounce gold zone.
Langi Logan is a major basalt dome target. The project area consists of four, potentially fault-bound segments of a Cambrian basalt dome structure which includes the Langi Logan North Extension, Langi Logan North, Langi Logan Central, and the Langi Logan South basalts.
Air-core program at Langi Logan
The company had recently completed a 3,400 metre air-core program across 56 holes. The AC drill program tested both flanks of the Langi Logan basalt dome.
The Langi Logan drilling is a part of the Company’s ongoing 12,000 metre regional drilling campaign. Previous intercepts from the shallow AC drill from the eastern flank of the North Langi Logan basalt had returned 11m @ 5.1 g/t Au from within a broader interval of 33m @ 2.9 g/t Au in LLA014; 2m @ 19.4 g/t Au, including 1m @ 33.6g/t Au in LLA031; 1m @ 21.2 g/t Au in LLA120; 7m @ 2.4 g/t Au, including 1m @ 11.1 g/t Au in LLA024; and 4m @ 1.7 g/t Au from within a broader zone of 28m @ 0.6 g/t Au in LLA030.
NML said that results have now been received and interpreted for all drill holes.
The company reported encouraging assays from both flanks of the Langi Logan basalt dome. Significant hits included 2m @ 1.2 g/t Au from 46m in LLA185 (East Flank); 2m @ 1.0 g/t Au from 12m in LLA198 (East Flank); 1m @ 2.4 g/t Au from 57m in LLA199 (West Flank); and 1m @ 1.1 g/t Au from 30m in LLA203 (West Flank).
NML said that the results complement previous shallow AC drill intercepts1 returned from the eastern flank of the North Langi Logan basalt.
New prospect unveiled
The company said that the results suggest the existence of a previously unknown major south-dipping fault that appears to displace the north Langi Logan basalt dome 1.5 kilometres to the west.
NML said that in effect, the faulting extends the known area of potential gold mineralisation by up to 2.5 kilometres, with total strike extent of the Langi Logan basalt dome expanded to 14.5 kilometres.
NML said that it is currently honing its 2021 work program which will include further drilling at Langi Logan to target the well-mineralised east flank and its offset continuation to the north.
Navarre said that it will continue regional testing of the basalt flanks at Langi Logan basalt domes utilising the air-core (AC) and diamond (DD) drilling techniques. The company said that the areas of positive AC and DD drill results are expected to be followed up with infill and expansion AC and Diamond drilling in 2021.
The company had reported a cash balance of $11.9 million at end of September 2020.
Navarre Managing Director Ian Holland said: “The Langi Logan Project further enhances the potential of the Company’s Stawell Corridor ground, which now covers 70 kilometres of strike length including our flagship Irvine project.
While we are still at an early stage of exploration, the results to date continue to support our view that this mineralised corridor has potential to host several multi-million ounce gold systems across a significant area.”