Navarre results expected to deliver improved design and targeting
Published 27-APR-2020 12:00 P.M.
|
3 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Navarre Minerals Limited (ASX: NML) has reported promising new drilling results from the Resolution Lode on the eastern flank of the Irvine basalt dome, part of the 100%-owned Stawell Corridor Gold Project in western Victoria.
The Irvine basalt dome occurs within a prospective corridor of rocks that host the 5 million ounce Stawell and 1 million ounce Ararat goldfields located along the western edge of the Stawell Geological Zone, 210 kilometres west of Melbourne.
The new results are for the first eight diamond holes of an ongoing program designed to test for depth extensions to shallow gold discovered in air-core (AC) drilling at Resolution Lode.
Importantly, these new results represent Navarre’s first significant diamond drilling campaign, testing for potential economic mineralisation beneath the 1.6km discovery area.
Highly promising results included 7.7 metres at 5.6 g/t gold within a broader zone of 18.7 metres at 3.4 g/t gold.
As indicated below, there were other relatively high-grade sets in widths between about 2.5 metres at 3 metres at depths ranging between 300 metres and 400 metres.
Best hole open to the west and down plunge
Highlighting the tenor of these results, Navarre’s managing director Geoff McDermott said, “These terrific diamond drill results from Resolution Lode are providing strong evidence for gold-shoot development, similar to that mined on the flanks of the Magdala basalt dome at Stawell’s 4 million-ounce Magdala Gold Mine, on-strike 20 kilometres further north.
"The geometry and tenor of the two main gold zones identified at Resolution Lode are continuing to evolve.
"The recognition of an apparent gentle south plunge to the gold shoot geometry has provided an important geological break-through, allowing us to better target subsequent drilling to expand these gold zones at depth.
"Drill hole RD025 is an example of this new understanding, despite terminating in 6.4 g/t gold mineralisation at 158 metres due to technical issues.
"RD025 is also our southern-most diamond hole and has returned one of our best and widest gold intercepts that remains open to the west and down-plunge.
"Drilling is continuing to systematically evaluate the size, continuity and tenor of gold mineralisation at Resolution Lode in order to see if it has what it takes to deliver Victoria’s next major gold deposit.”
Drilling results likely to lead to improved rate of success
The new drill information has allowed recognition of south plunging gold shoots at Resolution Lode.
This is viewed as a significant exploration breakthrough for the project and is expected to lead to improved design, targeting and, potentially, rates of success for subsequent expansion drill testing for this lode-style mineral system.
The significant gold results returned from hole RD025 is a consequence of adjusting the drill program to test the southern plunge theory.
To date, this is the most southerly diamond hole in the program but, unfortunately, the hole ended prematurely at 158 metres in a wide zone of mineralisation after suffering a technical issue.
A much anticipated drill hole RD025A is currently underway to test the full width of the mineralised structure at this position.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
