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Navarre Minerals Ltd.
Summary
| Project: | Stawell Corridor | |
|---|---|---|
| Deposit: | Irvine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-7-2017: Navarre Minerals Ltd. announces an Exploration/Drilling Update report for its Irvine deposit at the Stawell Corridor project. Drilling results incl. 23.6m @ 0.6g/t Au from 51.1m. Navarre Minerals Limited (ASX Code: NML) (Navarre or the Company) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Shane Mele (Internal) | |
| ABSTRACT: | Navarre Minerals Limited (ASX Code: NML) (Navarre or the Company) is pleased to announce positive results from its recently completed drilling programs at the 100%-owned Irvine Gold Project in western Victoria (Figure 1). Regional ‘proof-of-concept’ air-core (AC) drilling has validated the Company’s multiple-lode exploration model at the Irvine Gold Project. This drilling successfully tested two new targets with similar geochemical signatures to the Company’s priority Resolution Lode discovery. The AC program targeted the John Bull and Hospital Hill targets and intersected broad zones of intense hydrothermal alteration (silica – chlorite – sericite – sulphides) with elevated disseminated gold mineralisation over down-hole widths of up to 70m (see Figure 4 for locations). The best assay results from the first pass AC drilling include; 3m at 2.0g/t gold from 18m and 1m at 2.3g/t gold from 36m within a larger low-grade interval of 26m at 0.4 g/t gold from 18m at John Bull; and 3m at 1.5g/t gold from 69m at Hospital Hill. The results continue to validate Navarre’s model, which is based on the existence of multiple ’lodes’ or ’pods’ of significant gold mineralisation along both flanks of the +8km long Irvine basalt dome. Navarre’s Managing Director, Geoff McDermott, said: “The results from the first-pass ‘proof-of-concept’ air-core drill program over the John Bull and Hospital Hill targets have increased the potential for both to become significant new oxide gold discoveries, alongside the priority Resolution Lode, reinforcing our belief that the Irvine Gold Project is likely to host significant multiple lode gold positions similar to Stawell’s Magdala gold deposit. | |
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