Navarre Minerals hits more high-grade gold at flagship Irvine project

Navarre Minerals more high-grade gold flagship Irvine project ASX NML
Latest assays at Resolution Lode within Irvine have returned up to 55g/t gold.

With a third diamond rig now in operation at its flagship Irvine gold project, Navarre Minerals (ASX: NML) has hit more high-grade gold at the Victoria-based asset, which is close to the 5 million ounce Magdala gold mine.

A 12,000m diamond drilling program has been 80% completed at the project – focusing on the Resolution Lode prospect.

Latest assays to hand from the program have revealed 0.6m at 55 grams per tonne gold from 494.1m; 7.9m at 4.3g/t gold from 441.4m, including 1m at 11.7g/t gold; and 3.7m at 3.8g/t gold from 381.3m.

Navarre noted the results extend the known strike length of the Resolution Lode south shoot to 1.3km as well as enhancing the depth potential.

Additionally, the assays “show evidence” of high-grade mineralised structures on the hanging wall side of the prospect’s Main Zone, which Navarre plans to follow up.

“Our ongoing diamond drilling program at Resolution Lode continues to deliver consistently strong intersections of gold mineralisation from within a well-defined lode channel,” Navarre managing director Ian Holland said.

“The recognition of parallel zones of high-grade gold mineralisation in the hanging wall of the Main Zone is providing further confidence that Resolution Lode has the potential to grow into a large deposit similar to the nearby Magdala system,” he added.

Progressing Irvine gold project

From all drilling at Irvine in the past year, the best results from the Main Zone were 5m at 10g/t gold, 9.4m at 5.3g/t gold and 7.7m at 5.6g/t gold.

Over at the hanging wall zones best results were 10.8m at 4.5g/t gold, 0.6m at 55g/t gold and 1m at 20.8g/t gold.

The remainder of the 12,000m drilling program is now focusing on the northern aspects of the southern shoot where mineralisation remains open at depth.

Final assays from the continuing program are expected before the end of February next year.

Meanwhile, the recently secured third rig is undertaking an additional 2,000m of extensional drilling at the Adventure Lode, which is about 4km from Resolution Lode.

“We are presently on track to deliver our maiden mineral resource in 2021 and look forward to sharing the next round of results as we near completion of our initial 12,000m diamond drilling program,” Mr Holland said.

Irvine is 20km south of private entity Stawell’s 5Moz Magdala mine.

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