Results from maiden aircore drilling at Navarre Minerals’ (ASX: NML) Langi Logan gold project in western Victoria have delivered the highest-grade gold intersection to date from the basalt contact target zone.
The results came from two shallow holes along the open flank of the 1.6km-long Target A zone within the prospective Stawell gold corridor, with a best intercept of 33.6 grams per tonne gold within an intersection of 2m at 19.4g/t gold.
Also recorded was 4m at 1.7g/t gold from 68m, including 1m at 4.5g/t gold.
The holes were drilled approximately 200m north of Navarre’s previous best drill intersection at Langi Logan of 33m at 2.9g/t gold, including 11m at 5.1g/t gold containing individual assays of up to 15.8g/t gold.
The results confirm the project’s potential to host a large-scale, high-quality gold system similar to Navarre’s flagship Irvine discovery and the recently re-opened 4 million ounce Magdala gold mine – Victoria’s most prolific modern gold mine which is still producing gold after 30 years of continuous production.
Navarre’s campaign has now been expanded to 6,000m to further test Langi Logan mineralisation up to 6km to the south of the drilled zone.
Managing director Geoff McDermott said the “highly impressive” results continue to indicate potential for a new gold discovery.
“Drilling is ongoing and we look forward to expanding the mineralised zone as we strive to deliver our second gold find along the proven Stawell gold corridor,” he said.
Langi Logan is one of seven Cambrian basalt dome targets contained within Navarre’s tenement package covering a 60km strike of the Stawell corridor.
It includes three priority drill targets – A, B and C – based on multiple coincident anomalies including gravity, gradient array induced polarisation and significant historical drill intercepts.
The current drilling campaign has delivered high-grade results since exploration commenced in November.
At midday, shares in Navarre Minerals were up 4.62% to $0.068.