Navarre Minerals embarks on diamond drilling campaign for gold
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.
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