Navarre beefs up gold expertise as price continues run back up
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Special Report: Navarre is strengthening its technical capabilities with the appointment of a specialist who has a “deep understanding of central Victorian gold”.
Navarre Minerals (ASX:NML) already has a lot of experience on its team with the company headed by the same crew that once operated one of the biggest Victorian gold mines.
But it is strengthening its expertise even further with the appointment of Victorian gold specialist Sarah Cochrane as senior exploration geologist.
Before joining Navarre, Cochrane spent over eight years as an exploration geologist with Castlemaine Goldfields, a subsidiary of LionGold and owner of the Ballarat gold mine.
She has also worked as a project geologist on multiple greenfields Victorian projects and as an exploration geologist in the east Pilbara of Western Australia.
Cochrane will work closely with Navarre’s exploration manager on the Irvine and recently acquired Jubilee gold projects.
Navarre managing director Geoff McDermott said Cochrane’s deep understanding of central Victorian gold would strongly benefit the company’s exploration projects at a crucial evolutionary stage.
“Sarah is an experienced and competent geologist who will strengthen our technical capacity at Jubilee, as we move quickly to generate value from this significant gold system,” he said.
“Sarah has come to Navarre recognising the significant opportunities ahead for the company and we warmly welcome her to the team.”
The gold price again touched $US2000 an ounce overnight as it continues to reverse its recent pullback.
At the same time, Navarre is laser focused on delivering a maiden resource for Irvine’s Resolution Lode prospect at the flagship Stawell Corridor gold project.
It has also started an electrical geophysics program and ground magnetics survey
at its new Jubilee gold project.
This will assist mapping the subsurface geology around the historical site.
Jubilee is host to a past producing 619m deep mine of the same name, which produced about 130,000oz between 1887 and 1913 at an average grade of around 12 grams per tonne (g/t).
The goal for Navarre is to unlock extensions and repetitions of historically mined transverse quartz reefs similar to the high-grade Swan – Eagle system at the Fosterville mine.
The project, which has not been drilled since it closed more than a century ago, is located near the 12-million-ounce Ballarat Goldfield, which hosts a major operating gold mine and processing plant.
The geophysics program is expected to take two weeks to complete.
Navarre will follow this up in the December quarter with maiden drilling program at the Jubilee project.
The company has an impressive portfolio of Victorian gold projects within or near the state’s “Golden Triangle”, which has witnessed 80 million ounces of gold production over time.
Navarre believes it has “cracked the code” on what’s controlling the mineralisation and its plunge direction at its Irvine project.
“We are progressively stepping our drilling southwards, building what we hope will be our maiden mineral resource in the first quarter of next year,” McDermott told Stockhead previously.
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.