Navarre Minerals’ (ASX: NML) Victorian project is continuing to come up trumps with latest assays from Resolution Lode returning high-grade gold close to the privately-owned Magdala gold mine at Stawell.
The latest results are from a 9,000m expansion diamond core drilling program across Resolution Lode within Navarre’s Stawell Corridor gold project and have confirmed gold mineralisation from surface to beyond a 300m depth, with mineralisation remaining open down plunge.
Navarre noted mineralisation appeared similar to the 4 million ounce Magdala deposit, which is 20km along strike to the north.
Notable assays from latest drilling at Resolution Lode were 9.4m at 2.6 grams per tonne gold, including 2.9m at 6.2g/t gold; 11.9m at 1.8g/t gold, including 2m at 9.9g/t gold; and 10.3m at 2.2g/t gold, including 1m at 20.8g/t gold.
“Our ongoing diamond drilling program at Resolution Lode is continuing to deliver consistently strong grades of high-grade gold mineralisation from within a well-defined lode channel extending from surface to beyond 300m depth,” Navarre managing director Geoff McDermott said.
Advancing Resolution Lode
To-date, 12 holes for 4,000m have been completed at Resolution Lode, with drilling targeting beneath areas where previous aircore drilling returned better results.
Navarre noted the latest assays complement previous drilling at Resolution Lode where numerous high-grade gold intervals were returned including up to 47.2g/t gold within a 0.7m interval.
The remaining 5,000m from the 9,000m program is underway, with Navarre claiming drilling will continue and move towards round the clock operations.
“Step-out drilling is planned to continue through winter to evaluate the size, continuity and tenor of gold mineralisation at Resolution Lode in order to see if has what it takes to deliver Victoria’s next major gold deposit,” Mr McDermott explained.
“The geometry and style of gold mineralisation at Resolution Lode is similar to the nearby 4Moz Magdala gold deposit, where gold has historically been mined from surface to 1.6km depth, indicating the potential for a similar large gold deposit at Resolution Lode,” he added.