In its ongoing work to revive part of the Victorian gold story, Navarre Minerals (ASX: NML) has reported that drilling at the Langi Logan prospect has located gold-bearing sulphide mineralisation on the north-eastern flank of the company’s No.3 basalt dome.
The Langi Logan basalt dome is, after the Irvine basalt dome, Navarre’s next major prospect for mineralisation as it explores the Stawell Corridor gold project.
The aircore drilling intersected gold with anomalous silver, lead, zinc and copper in areas where modelling by the CSIRO has been used to aid exploration.
One drill hole intercepted 9m at 0.8 grams per tonne gold and 1.9g/t silver, including 4m at 1.5g/t gold, 3.2g/t silver and 0.1% zinc.
Evidence points to two new mineralised parallel zones
It also reported 7m at 0.4g/t gold (including 1m at 2g/t) and — in a third hole — two separate intercepts, one returning 1m at 2.4g/t from 76m and the other 1m at 0.2% zinc from 101m.
The assays were part of a 24-hole, 2,323m drilling program.
Navarre says the drilling results show evidence for two new parallel zones of mineralisation on the northeast flank of the No.3 basalt which extends over a strike length of about 350m, and remains open and at depth.
Managing director Ian Holland said the company is encouraged by its first program of reconnaissance drilling, testing gold targets predicted from simulated models.
“The key takeaway for investors is that we have confirmed a new prospective area for shallow gold mineralisation at Langi Logan with important vectors for ongoing exploration,” he said.
Potential to boost existing gold resource
Mr Holland said the latest drilling results continue to support Navarre’s view that its extensive Stawell Corridor land holding, which covers about 70km of strike length, has the potential to host additional significant gold deposits to complement the existing 304,300oz Stawell resource.
The Langi Logan prospect consists of four basalt zones.
It includes 14.5km of strike length, with about 70% of the ground being under cover, the depths of new volcanic cover ranging from a few metres to 30m in thickness.
Historically deep lead mining produced a recorded 133,000oz of gold.