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Navarre Minerals Ltd.
Summary
| Project: | Stawell Corridor | |
|---|---|---|
| Deposit: | Irvine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-2-2017: Navarre Minerals Ltd. announces an Exploration/Drilling Update report for its Irvine deposit at the Stawell Corridor project. Drilling results incl. 3m @ 1.17g/t Au from 48m. Navarre Minerals Limited (ASX Code: NML) (Navarre or the Company) is | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Shane Mele (Not stated) | |
| ABSTRACT: | Navarre Minerals Limited (ASX Code: NML) (Navarre or the Company) is pleased to announce a 3,000m diamond drilling program at its 100%-owned Stawell Corridor Gold Project, located 15km south of Stawell in western Victoria (Figure 1). Navarre’s Managing Director, Geoff McDermott said a new oxide gold reef system has been discovered in the Company’s recently completed maiden air-core (AC) drilling program at the Irvine gold prospect. “This new gold discovery has geological similarities to the 4.5 million ounce Magdala gold mine (1982–2016) at Stawell,” Mr McDermott said. In mid-December 2016, the Company completed its maiden AC drilling program at the Irvine gold prospect. The program comprised 105 AC drill holes for a total of 4,906m. Assay results for all drill holes have now been received and interpreted. Results for the first 95 drill holes were previously reported to the ASX in releases on 1 and 15 December 2016, and on 16 January 2017. One of the main targets of this drill program was the Resolution Lode (formerly Target 3) where 46 AC drill holes in eight 100m (north – south) spaced drill traverses were completed across the mineralised structure (Figures 2 & 3). The results for the final 10 AC holes (IAC096-105) are from broader reconnaissance-style first-pass testing of several geochemical and geophysical targets located off the western side of the Irvine basalt dome (See Table 1 and Figure 3). Although requiring infill and step-out drilling, the results from the final set of AC holes are pleasing as the drilling has intersected structures containing gold and highlighted the presence of a possible new mineralised trend (Westgate) and a potential significant strike extension of the Great Western trend. | |
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