Navarre’s emerging Langi Logan gold system is now 14.5km long
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Special Report: Navarre Minerals (ASX:NML) has uncovered a previously unknown major ‘fault’ which extends the size of the gold system at Langi Logan to 14.5km in length.
Recent early stage aircore drilling at Langi Logan in Victoria returned encouraging assay results like 2m at 1.2 g/t gold from 46m and 2m at 1 g/t gold from 12m.
These results complement previous drill intercepts like 11m at 5.1 g/t from within a broader interval of 33m at 2.9 g/t.
As well as reporting encouraging assays, the results suggest the existence of a previously unknown major south-dipping fault that appears to displace the north Langi Logan basalt dome 1.5 kilometres to the west, Navarre says.
This faulting at Langi Logan extends the known area of potential gold mineralisation by up to 2.5km to 14.5km long.
Similar faulting is also a feature of the greater Stawell Gold Corridor, which hosts the producing 4moz Magdala Gold Mine, 40km north and on-strike.
Navarre managing director Ian Holland says Langi Logan further enhances the potential of the company’s Stawell Corridor ground, which now covers 70km of strike length including the flagship Irvine project.
“While we are still at an early stage of exploration, the results to date continue to support our view that this mineralised corridor has potential to host several multi-million-ounce gold systems across a significant area,” he says.
With a healthy cash balance of $11.9 million at end of September 2020, the company is currently honing its 2021 work program which will include further drilling at Langi Logan to target the well-mineralised east flank and its offset continuation to the north.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.