Special Report: Drilling continues to bolster the size of the gold lode system at Navarre’s Irvine project in Victoria, which is looking increasingly similar to the nearby 5 million ounce Magdala deposit.
New assay results, part of an extensive 12,000 metre diamond drilling blitz, extend the gold at Resolution Lode’s South Shoot to ~1.3km long while “materially enhancing its depth potential”, Navarre (ASX:NML) says.
Latest results (not true widths) include:
▪ 0.6m at 55.0 g/t gold from 494.1m
▪ 7.9m at 4.3 g/t gold from 441.4m, including 1m at 11.7 g/t, and
▪ 3.7m @ 3.8 g/t from 381.3m
The recent assays also show evidence of high-grade mineralised structures and associated quartz veining on the western side (hangingwall) of the Main Zone that will require further investigation.
Assay results for three further diamond holes remain pending and are expected to be reported early in 2021.
The 12,000m Resolution Lode drilling campaign is about 80 per cent complete.
Work is now focused on the northern aspects of the South Shoot where the gold is ‘unconstrained’ at depth, with final assays targeted by the end of February 2021.
A maiden resource for Resolution Lode is due in early 2021.
“Our ongoing diamond drilling program at Resolution Lode continues to deliver consistently strong intersections of gold mineralisation from within a well-defined lode channel,” Navarre managing director Ian Holland says.
“The recognition of parallel zones of high-grade gold mineralisation in the hangingwall of the Main Zone is providing further confidence that Resolution Lode has the potential to grow into a large deposit similar to the nearby Magdala system.
“We are presently on track to deliver our maiden mineral resource in 2021 and look forward to sharing the next round of results as we near the completion of our initial 12,000 metre resource definition drilling program.”
This article was developed in collaboration with Navarre, 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.