As the gold price continues hovering at all-time highs, Navarre Minerals (ASX: NML) has boosted its key Victorian assets further with the appointment of a Victorian gold specialist to “strongly benefit” the company in advancing its projects.
Sarah Cochrane has joined Navarre’s technical team as a senior exploration geologist. She brings with her eight years’ experience with LionGold subsidiary Castlemaine Goldfields, which operates the Ballarat gold mine.
In addition to Castlemaine, Ms Cochrane has worked on multiple greenfield projects in Victoria as well as Western Australia’s east Pilbara region.
According to Navarre, Ms Cochrane has a “wealth of knowledge” on Victorian gold mineralisation.
Ms Cochrane’s role with Navarre will involve working closely with the exploration manager on the Irvine and recently acquired Jubilee gold projects.
Navarre managing director Geoff McDermott said Ms Cochrane had a “deep understanding” of central Victorian gold that would “strongly benefit” the company during this crucial stage.
“Sarah is an experienced and competent geologist who will strengthen our technical capacity at Jubilee as we move quickly to generate value from this significant gold system.”
Mr McDermott added that Ms Cochrane recognised the “significant opportunities” the company’s assets represent.
Jubilee gold project
Navarre revealed in June it had acquired 100% of Jubilee which is 25km from Ballarat in Victoria and within the region’s 12 million ounce gold field.
The project covers 122sq km and includes the historic Jubilee mine which produced 130,000oz of gold between 1887 and 1913. The average grade was 12 grams per tonne.
Mr McDermott pointed out that Jubilee is just 25km from a gold processing facility and operating mine.
Initial exploration at Jubilee has begun with a geophysics program and ground magnetics survey.
Navarre has scheduled maiden drilling at the project for the December quarter.
With the gold price hitting all time highs this month – peaking at US$2,070/oz, it is believed to be an opportune time for precious metals miners and explorers alike.
After hitting US$2,070/oz in early August, the metal’s price pared back to US$1,810/oz. It is now retracing its upward trajectory and was last trading at US$1,982/oz.
To fast-track its key Victorian assets, Navarre raised $8 million last month. In addition to advancing Jubilee, funds are being used to accelerate drilling at the Resolution Lode within the Stawell Corridor gold project.