- Navarre Minerals (NML) intercepts further high-grade gold from its St Arnaud and Stawell Corridor gold projects in Victoria
- Results have been received for eight diamond holes, five of which were drilled at St Arnaud and three of which were drilled at Stawell Corridor
- Drilling is being undertaken to test for gold mineralisation and test the Resolution Prospect South Shoot and the Benno basalt dome
- Grades have peaked at 13.1 grams of gold per tonne (g/t) from St Arnaud and 14g/t gold from Stawell Corridor
- Navarre is steady on the market with shares trading at 8.8 cents at 12:08 am AEST
Navarre Minerals (NML) has intercepted further high-grade gold from its St Arnaud and Stawell Corridor gold projects in Victoria.
Results have been received for eight diamond holes, five of which were drilled at St Arnaud and three of which were drilled at Stawell Corridor.
The St Arnaud Project lies 244 kilometres northwest of Melbourne in the Bendigo-Stawell Zone of the Lachlan Fold Belt.
Navarre is undertaking a maiden diamond core drilling program to test for potentially economic gold mineralisation beneath aircore intercepts.
Results have been received for all 13 holes drilled, with Navarre intersecting three potential quartz reef structures.
These structures contain a varying mix of sulphide mineralisation and further drilling is needed to understand the potential for gold.
New results include 1.4 metres at 13.1 grams of gold per tonne (g/t), 1.4 metres at 7.1g/t gold from five metres; and 0.8 metres at 4.2g/t gold from 131.6 metres.
The Stawell Corridor Project lies 237 kilometres north-northwest of Melbourne within the Cambro-Ordovician Stawell Zone of the Lachlan Fold Belt.
Three diamond core holes were drilled at the Stawell Corridor Gold Project to test the southern margin on the Resolution Prospect South Shoot and the Benno basalt dome.
All three holes intersected anomalous gold with a best result of 1.1 metres at 14g/t gold returned.
Drilling is set to begin at the Resolution Prospect in Q1 2022.
Managing Director Ian Holland commented on the drilling program.
“The company is pleased with its first diamond drilling campaign on the New Bendigo Line, intersecting a new, mineralised parallel quartz reef in the footwall of the Main Reef historically mined in the New Bendigo Shaft,” Mr Holland said.
“In the case of the Stawell Corridor Project, the latest high-grade gold intercept outside of the boundary of the current resource estimate area supports the potential for future growth of the mineral inventory.”
Navarre was steady on the market with shares trading at 8.8 cents at 12:08 am AEST.