Gold: It’s ‘go big or go home’ for Navarre and the Stawell Corridor gold project
Link copied to
Navarre calls a major new drilling campaign at the Stawell Corridor Gold (SCG) Project “the most significant in the company’s history”. That means investors should expect strong news flow – good or bad – over the coming months.
Navarre (ASX:NML) is hoping that SCG in Victoria hosts several large-scale gold deposits, like the nearby 4-million-ounce Magdala gold mine.
The explorer made three gold discoveries at the flagship project over the past few years, called Adventure, Resolution, and Langi Logan. Now it’s time to see what they’re really made of.
These prospects will be targeted by a substantial 13,500m drilling campaign which will take between 6 to 9 months to complete.
“We think is the most significant drilling program in our company’s history as we transition towards advanced explorer status,” Navarre managing director Geoff McDermott says.
“In the next 6-9 months we will systematically evaluate the size, continuity and tenor of gold mineralisation down to about 300m at our Resolution and Adventure lode discoveries to see if they have what it takes to deliver Victoria’s next major gold deposits.
“We look forward to sharing further updates on the progress of this major new phase of expansionary drilling, which we expect will generate strong news-flow over the coming weeks and months.”
Recently, Navarre has been making headlines for a different reason.
In late September, Stavely Minerals (ASX:SVY) made a huge copper discovery at its namesake Victorian project.
Stavely leapt ~330 per cent to $1 per share, but Navarre — which has ground right next door — also benefited from the find with a 36 per cent uplift.
Drilling assay results from Stavely’s Thursday’s Gossan prospect revealed a monstrous shallow, very high-grade intersection — which included a ‘stunning’ 2m intersection grading 40 per cent copper, 3g/t gold and 517g/t silver. Insane stuff.
Dark Horse Resources (ASX:DHR) is picking up some high grade, +7g/t gold and +3000g/t silver surface samples at the Las Opeñas project in Argentina. This was enough to send the stock up +30 per cent in morning trade.
But the real question is — does this high-grade stuff continue at depth? The explorer is drilling late 2019 to find out.
Marmota (ASX:MEU) says gold ore from its advanced Aurora Tank project can be recovered through heap leaching – a very low cost, low capex production method. Investors liked the news, sending the stock up 13 per cent in morning trade.
“A heap leach would mean that Marmota would not need to construct a mill, nor share revenue with external parties for toll treatment in a mill,” Marmota chairman Dr Colin Rose says. “This is a highly desirable outcome for both the Company and our shareholders.”