logo-loader

Navarre Minerals confirms new discovery at St Arnaud Gold Project

Last updated: 12:17 30 Jul 2018 AEST, First published: 22:17 29 Jul 2018 AEST

geologist working on rock sampling
Geological mapping at the project, 250 kilometres northwest of Melbourne

Navarre Minerals Ltd (ASX:NML) has received results for maiden aircore drilling at its St Arnaud Gold Project in Victoria, which reaffirm the strong potential for economic gold and silver mineralisation.

The program comprised 80 holes for 6,512 metres and all four widely spaced drilling traverses intersected mineralisation, highlighting the project’s large-scale potential.

Navarre has also lodged applications for additional exploration acreage to increase exposure to St Arnaud’s discovery area.

READ: Navarre Minerals returns positive gold assays, expands Irvine project in Victoria

Managing director Geoff McDermott said the drilling results were outstanding for a first-pass program into previously undrilled areas.

He said: “[The results] have exceeded initial expectations and demonstrate the strong potential for the discovery of further economic gold and silver mineralisation associated with the northward projection of the historic St Arnuad Goldfield, under shallow Murray Basin cover.”

Significant assays include: 4 metres at 6.6 g/t gold from 48 metres; 1 metre at 1.3 g/t from 67 metres; and 1 metre at 1.1 g/t from within a broader zone of 15 metres at 0.2 g/t from 57 metres.

Highlighted silver intersections include 1 metre at 67.4 g/t from 50 metres and 1 metre at 6.3 g/t from 18 metres.

Navarre tenements in Victoria

 

READ: Navarre Minerals starts major drilling program in quest for Victorian Gold

Drilling was designed to test for early indications of a potential high-grade gold system of similar style to the world-class 6 million ounce Fosterville Gold Project, 130 kilometres to the east.

The program confirmed the mineralisation at St Arnaud’s extends north under shallow cover on the Nelson Trend, host to the historical high-grade 0.3 million ounce Lord Nelson Mine.

The mineralisation remains open along strike and at depth and warrants follow-up drilling.

Navarre is utilising its knowledge base of the Fosterville and other Victorian gold deposits, as well as methodologies developed and applied in exploring its Tandarra discovery in western Victoria, in its exploration approach to St Arnaud.

Defining additional targets

Navarre is undertaking mapping, rock chip and soil sampling to better understand structural controls on the gold mineralisation and to refine the company’s exploration model for the area.

McDermott said: “The drilling has delivered compelling new exploration targets that we intend to further assess in the coming months.

“[The results have] provided an important insight into the geometry and structure of the gold and silver mineralised zones that have remained hidden below Murray Basin cover.”

Following completion of the mapping and sampling programs, follow-up aircore drilling will be planned and executed for next quarter.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

11 hours, 54 minutes ago