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Navarre Minerals Ltd.
Summary
| Project: | St Arnaud | |
|---|---|---|
| Deposit: | St Arnaud | |
| Location: | Australia | |
| Commodities: | Gold-Silver | |
| Date: | 2/5/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-2-2019: Navarre Minerals Ltd. announces an Exploration/Drilling Update report for its St Arnaud deposit at the St Arnaud project. Drilling results incl. 6.0m @ 2.5g/t Au from 80.0m. Navarre Minerals Limited (Navarre or the Company; ASX: NML) is pleased | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Shane Mele (Internal) | |
| ABSTRACT: | Navarre Minerals Limited (Navarre or the Company; ASX: NML) is pleased to announce significant gold and silver intersections from its recently completed aircore (AC) drilling program at its 100%-owned St Arnaud Gold Project, 250km northwest of Melbourne in Victoria (Figure 1). Navarre completed a shallow first-pass AC drilling program over three priority targets (two outcropping quartz reef targets and one gossanous shear zone) totalling 1,480 metres across 19 holes at the St Arnaud East prospect, within the East Field Trend of the St Arnaud Gold Project (Figure 2). Drilling at St Arnaud was designed to test for early indications of a potential high-grade quartz vein gold system of similar style to Kirkland Lake Gold Ltd.’s world-class 7 million-ounce Fosterville Gold Project located 130km to the east. It successfully delivered multiple encouraging gold and silver intersections within a broad arsenic halo that exhibit strong structural similarities to the very high-grade Swan and Eagle zones at the Fosterville Gold Mine (see Figure 8). The best gold result was returned from the South Reef and was 6m @ 2.5 g/t Au from 80m (SAC098), including 1m @ 5.4 g/t Au within a broader interval of 25m @ 0.9 g/t Au starting from 63m. The best silver results were returned from the North Reef and was 1m @ 81.0 g/t Ag from 81m (SAC082) within a broader interval of 8m @ 19.8 g/t Ag. The program also demonstrated the potential for the under-explored East Field Trend of the St Arnaud Goldfield to host economic mineralisation. This mineralisation remains open at depth and Navarre considers this an excellent early stage exploration opportunity that warrants further drilling. It will now commence planning for a deeper, follow-up drilling program targeting the fresh basement rocks beneath the oxide zone. | |
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