Navarre Minerals (ASX: NML) is starting to unlock the potential of the company's Bendigo North Gold Project, which is located in a region which has been well documented as being a gold exploration and production area for over 150 years.
The project is located 40 kilometres north of the world class 22 million ounce Bendigo goldfield, in a region known as the Victorian Goldfields.
Navarre has now confirmed a plus 900 metre strike length, after completing an 18 hole air‐core drilling program at the Tandarra prospect.
Importantly - the drilling had a 90% hit rate targeting three shallow, parallel north-south trending lines of quartz veins, typical of Victoria anticlinal controlled quartz hosted mineral deposits.
Navarre said that these structures are interpreted to be extensions of the gold‐bearing quartz lodes identified by drilling earlier in the year.
Boosting the prospectivity of the project, is that three high grade, plus 1 gold ounce per tonne invercepts have been made in a 2 kilometre zone at West Tandarra.
These include the recent 10 metres at 34.4 grams per tonne (g/t) gold from 37 metres.
Geoff McDermott, managing director, commented “What we have seen so far in the drilling supports our view that we are encountering typical Victorian Goldfields style quartz saddle reef and associated spur structures sitting within the apexes of the three anticlinal structures.
"These quartz features have not been closed off by drilling to the north and are expected to repeat at regular intervals with depth.”
The air-core samples have now been dispatched for assay this week.
Navarre remains well funded after recently raising $3.2 million in an underwritten rights issue.
These funds will be allocated to a $4.2 million program, including 110 line kilometres of geophysics and 50,000 metres of drilling - which kicks off at Tandarra this week.
www.proactiveinvestors.com.au/companies/...ldfields-19245.html
The project is located 40 kilometres north of the world class 22 million ounce Bendigo goldfield, in a region known as the Victorian Goldfields.
Navarre has now confirmed a plus 900 metre strike length, after completing an 18 hole air‐core drilling program at the Tandarra prospect.
Importantly - the drilling had a 90% hit rate targeting three shallow, parallel north-south trending lines of quartz veins, typical of Victoria anticlinal controlled quartz hosted mineral deposits.
Navarre said that these structures are interpreted to be extensions of the gold‐bearing quartz lodes identified by drilling earlier in the year.
Boosting the prospectivity of the project, is that three high grade, plus 1 gold ounce per tonne invercepts have been made in a 2 kilometre zone at West Tandarra.
These include the recent 10 metres at 34.4 grams per tonne (g/t) gold from 37 metres.
Geoff McDermott, managing director, commented “What we have seen so far in the drilling supports our view that we are encountering typical Victorian Goldfields style quartz saddle reef and associated spur structures sitting within the apexes of the three anticlinal structures.
"These quartz features have not been closed off by drilling to the north and are expected to repeat at regular intervals with depth.”
The air-core samples have now been dispatched for assay this week.
Navarre remains well funded after recently raising $3.2 million in an underwritten rights issue.
These funds will be allocated to a $4.2 million program, including 110 line kilometres of geophysics and 50,000 metres of drilling - which kicks off at Tandarra this week.
www.proactiveinvestors.com.au/companies/...ldfields-19245.html
