Pos­i­tive re­sults in gold search

The Weekly Advertiser Horsham - - News -

Navarre Min­er­als has con­firmed more pos­i­tive re­sults from drilling pro­grams at its Irvine Gold Project be­tween Stawell and Ararat.

The com­pany an­nounced that lat­est ‘proof-of­con­cept’ air-core drilling had added weight to a be­lief the site was likely to have as much gold as Stawell’s Mag­dala de­posit.

Lat­est drilling has been at John Bull and Hos­pi­tal Hill tar­get sites near Arm­strong.

Navarre Min­er­als man­ag­ing di­rec­tor Ge­off Mcder­mott said the re­sults meant both sites had in­creased po­ten­tial to be­come sig­nif­i­cant new ox­ide gold dis­cov­er­ies.

“It has re­in­forced our be­lief that the Irvine Gold Project is likely to host sig­nif­i­cant mul­ti­ple lode gold po­si­tions sim­i­lar to Stawell’s Mag­dala gold de­posit,” he said.

A lode is a de­posit of ore that fills rock fis­sures and is of­ten the home of gold and other metal­lic min­er­als.

“These new gold prospects have sim­i­lar ge­o­log­i­cal sig­na­tures to a res­o­lu­tion lode, which in turn com­pares with the mul­ti­ple lodes that com­prise the four-mil­lion-ounce Mag­dala gold de­posit at Stawell,” Mr Mcder­mott said.

“Stawell-style gold ore bod­ies are highly prized be­cause the gold is fine-grained, more con­tin­u­ous and pre­dictable and ex­tends to a greater depth than gold min­er­al­i­sa­tion typ­i­cally found in Vic­to­rian gold­fields.

“Mag­dala has pro­duced gold from mul­ti­ple shoots from sur­face to a depth of 1640-me­tres.

“The re­sults from our drilling pro­gram give con­fi­dence to in­ten­sify the hunt for ad­di­tional zones of sig­nif­i­cant gold min­er­al­i­sa­tion in other ar­eas next to the flanks of an Irvine basalt dome.”

A Stawell Cor­ri­dor Gold Project is made up of two ex­plo­ration li­censes, Taty­oon and Ararat, which in­clude the his­toric Ararat Gold­field.

It is be­tween 10 and 70 kilo­me­tres south-east of Stawell Gold Mine, owned by Navarre Min­er­als’ largest share­holder Kirk­land Lake Gold.

Min­ing in Ararat and Stawell com­bined has pro­duced about six-mil­lion ounces of gold.

The Irvine prospect is 15 kilo­me­tres south of Stawell’s Mag­dala Gold Mine and is part of the north­ern end of the Ararat Gold­field, es­ti­mated to have pro­duced about one mil­lion ounces of gold mainly from al­lu­vial and deep lead pro­duc­tion be­tween 1854 and 1925.

Pro­duc­tion of pri­mary hard-rock gold from the Ararat Gold­field was low given the rich­ness of the al­lu­vial de­posits, in con­trast to Stawell Gold­field.

This is one of the rea­sons why Navarre Min­er­als is search­ing for eco­nomic pri­mary gold min­er­al­i­sa­tion near the rich­est al­lu­vial gold de­posits.

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