Navarre Minerals embarks on diamond drilling campaign for gold

By Trevor Hoey. Published at Mar 9, 2017, in Small Caps

As previously flagged in February, Navarre Minerals (ASX:NML) has just commenced its 18-hole, 3000 metre diamond drilling program which is targeting potential depth and strike extensions to shallow oxide gold mineralisation discovered in air-core drilling in December 2016.

This discovery is known as the Resolution Lode, part of the Irvine gold prospect, which has geological similarities to the nearby 4 million ounce Magdala gold deposit at Stawell in western Victoria.

In outlining the significance of the drilling program and, in particular, the type of mineralisation to be targeted, NML Managing Director, Geoff McDermott said, “Stawell-style gold ore bodies are highly prized because the gold is fine-grained, more continuous and predictable, and extend to a greater depth (Magdala produced gold from surface to 1640 metres) than gold mineralisation typically found at Victoria’s other goldfields such as Bendigo and Ballarat.

Extensive air-core drilling lays the foundation for a targeted diamond drilling program

Management has been assisted in developing a clearly defined strategy for the drilling campaign following the completion of a maiden 105 hole, 4.9 kilometre air-core drilling program which resulted in the discovery of significant oxide mineralisation from surface to an average depth of 45 metres.

The gold mineralisation of the Resolution Lode has been confirmed over a strike length of 800 metres and remains open along strike and at depth. Significant drill intercepts encountered during the initial air-core drilling program include 6 metres grading 6.3 grams per tonne gold, 6 metres grading 4.2 grams per tonne gold and 2 metres grading 41.5 grams per tonne gold.



S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!