Navarre Minerals Limited (ASX: NML) has obtained significant new assay results from air-core (AC) drilling at the Langi Logan gold prospect in western Victoria, part of its 100% owned Stawell Corridor Gold Project.
The assays are from a 2,323 m programme comprising 24 holes of reconnaissance AC drilling designed to test:
1. new gold targets on the northern end of the Langi Logan No. 3 basalt in areas focussed on by CSIRO modelling; and
2. to locate a potential fault offset of known gold mineralisation on the eastern flank of the No.2 basalt.
Langi Logan is Navarre’s third significant greenfields gold discovery within its wholly owned, 70-km long Stawell Corridor Gold Project, in the historically productive Victorian goldfields.
The Langi Logan basalt dome is prospective for Stawell-style gold mineralisation and is located 20 kilometres south of Navarre’s advanced Irvine basalt dome project, also part of the Stawell Corridor Project and where Navarre has made its two previous gold discoveries at Resolution and Adventure.
We are highly encouraged by our first program of reconnaissance air-core drilling, testing gold targets predicted from simulated models across the northern end of the Langi Logan No.3 basalt,” Managing Director, Ian Holland, said.
“The drilling has intersected significant zones of quartz-sulphide mineralisation across two parallel structures that are anomalous in gold, silver, zinc, copper and lead. This mineralisation remains open on the eastern flank of the No.3 basalt and at depth.
“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.
“The latest drilling results continue to support our view that Navarre’s extensive Stawell Corridor land holding, which covers approximately 70 km of strike length, has the potential to host additional significant gold deposits to complement our existing 0.3Moz Stawell Corridor gold Mineral Resource.”
The Langi Logan prospect comprises a 14.5 km strike length of four, potentially fault-bound, segments of a Cambrian basalt dome structure: the Langi Logan No.1, 2, 3 and 4 basalts.
Approximately 70 per cent of the prospect is covered by post-mineralisation Newer Volcanics, ranging from a few metres to approximately 30 m in thickness. Langi Logan is in an area of significant historical deep lead mining, with 133,000 ounces of gold production recorded.
The prospect continues the mineralisation style found at both the Resolution and Adventure prospects located on the eastern flank of the Irvine basalt dome, as well as the nearby Magdala dome at the operating 5Moz Stawell Gold Mine.
In May 2022, the company completed a 2,323 m programme of reconnaissance AC drilling to test the prospectivity of the north-eastern flank of the No.3 basalt, as well as attempting to locate a potential fault offset of strong gold mineralisation located on the eastern flank of the No.2 basalt.