Drilling confirms high grade gold at Navarre's Tandarra Gold Project

By Trevor Hoey. Published at Jun 30, 2020, in Mining

Navarre Minerals Limited (ASX:NML) in conjunction with its joint venture partner Catalyst Metals Limited (ASX:CYL) has released promising results from a 42 hole infill aircore (AC) drilling program at the southern extension of the Macnaughtan gold trend and 31 holes of reconnaissance AC drilling north of the Lawry Zone.

As indicated below, these sites are within the Tandarra Retention Licence, RL006660, located 40 kilometres north of the historical 22 million ounce Bendigo Goldfield in Victoria.

RL006660 is owned in joint venture by Catalyst (51%) and Navarre (49%) with Catalyst as manager of the joint venture.

The Tandarra Gold Project is situated along the Whitelaw Fault which is considered to be the major structural control of gold mineralisation at Bendigo, extending northwards to the Murray River, concealed beneath a blanket of younger, post-mineralisation sediments of the Murray Basin.

The infill drilling has revealed highly significant gold mineralisation over a 600-metre strike-length, with some indications of multiple mineralised horizons.

These results extend the strike length of mineralisation reported in April to 1.4 kilometres.

Zones of anomalous arsenic with trace gold enclosed are interpreted to extend the zone/zones of higher grade gold mineralisation northwards.

Some high-grade hits included 3 metres at 94.9 g/t gold from 87 metres, and there were some wider intersections such as 18 metres at 1.6 g/t gold from 75 metres.

Drilling at the Lawry Zone intersected the basement where they generally encountered quartz veining with geochemically anomalous arsenic values and trace gold.

This is consistent with the existence of structurally controlled, gold-prospective zones along the strike length tested, further justifying and providing target focus for follow-up drilling.

Holes at the western end of the reconnaissance traverses provided similar arsenic and trace gold anomalism, indicating a potential southerly extension of the Tomorrow Zone as illustrated below.

Catalyst technical Director, Bruce Kay expressed his increased confidence on the back of this news in saying, “The high grades and continuity of gold mineralisation revealed by this AC drilling are highly encouraging, confirming the potential of the southern Macnaughtan prospect to become the second significantly mineralised structure at Tandarra, in parallel with the high grade gold intersections at the Tomorrow Zone, 250 metres to the east.”

Follow up AC and reverse circulation drilling is planned on both these project areas during the 2020-21 field season.


Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


SEE THE PORTFOLIO

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.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X