High-grade gold hits are a Stawell gift for Navarre
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Navarre’s intersection of further high-grade gold intercepts at its Stawell Corridor gold project is a positive sign ahead of defining a maiden resource.
New diamond core results include 0.5m grading 55.7 grams per tonne (g/t) gold from 508.9m and 0.7m at 11.2g/t gold within a broader 3.1m intercept at 3.1g/t gold from 331.3m at the Resolution prospect and 3.2m at 9.6g/t gold from 263.6m at the Adventure prospect.
The completed 12,000m resource definition drilling program at Resolution has confirmed the strike length of gold mineralisation at its South Shoot – the larger of two lode channels – to be about 1.3km long.
Resolution also extends from surface to beyond 400m depth with Navarre Minerals (ASX:NML) noting that it remains open down-plunge, allowing for further drilling to expand mineralisation.
Stawell Corridor is about 20km south of the 5Moz Magdala gold mine in Victoria.
“Our recently completed resource definition diamond core drilling program at the Resolution prospect continues to deliver multiple strong intersections of gold mineralisation from within a well-defined lode channel,” managing director Ian Holland said.
“Several parallel zones of high-grade gold mineralisation to the east and west of the Main Zone are providing further confidence that Resolution has the potential to grow into a large deposit like the nearby Magdala system.
“We remain highly confident on delivering our maiden mineral resource by the end of this
month, the first instalment of a growing resource base for our 100% owned Stawell Corridor
The company plans to continue diamond drilling with a focus on expanding the potential resource base with infill and step-out drilling on both the Resolution and Adventure prospects.
Over at the Adventure prospect, Navarre has completed a 2,000m expansion diamond core drilling program to scope its depth potential.
While assays have only been received from three holes to date, the company has already recorded two of the highest grade intercepts from a strongly mineralised quartz-sulphide lode structure similar in character to the Main Lode at the Resolution prospect.
One of these holes also recorded the first observed speck of visible gold at the prospect, suggesting a potential increase in gold tenor with depth.
Navarre now plans to finalise the geological and structural models in preparation for resource estimation, which is expected before the end of March.
It will also start an additional 2,000m diamond core program at the Adventure prospect once the required approvals are received.
This article was developed in collaboration with Navarre Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.