Navarre Minerals identifies new porphyry-style copper target at Stavely
THE DRILL SERGEANT: Navarre Minerals (ASX: NML) has identified a porphyry copper and molybdenum target from historical records recently revealed by the Geological Survey of Victoria (GSV).
The new Lexington prospect has surface dimensions of approximately 500 metres by 700 metres (0.1 per cent copper cut-off) and lies wholly within the company’s Stavely exploration licence, located 200 kilometres west of Melbourne.
Navarre exploration tenements location, interpreted basement geology and targets. Source: Company announcement
The historic data showed a single diamond hole was drilled in 1994 by North Limited on a copper anomaly near Lake Bolac.
Results revealed a granodiorite host rock containing primary copper and molybdenum mineralisation, including 1m at 0.6 per cent copper from near the base of the hole and 1m at 800ppm molybdenum from 179m.
Navarre explained past shallow air-core drilling surrounding this diamond hole indicates the development of a broad zone of supergene copper mineralisation within a range of 0.1 per cent to 0.2 per cent copper at Lexington.
Despite recommendations for follow-up, no further work was completed.
“This data is valuable as it gives us a partially-explored historic prospect that adds to our growing list of copper discoveries within the 130 kilometres strike length of volcanic rocks located within our emerging Black Range base metals project,” Navarre Minerals managing director Geoff McDermott said in the company’s announcement to the Australian Securities Exchange.
The data was uncovered as part of a recent initiative by the GSV to digitally capture historical drill logs and metals assay information for the Stavely Volcanic Belt from handwritten and typewritten statutory reports submitted to the Victorian government.
In cooperation with the GSV, Navarre is now compiling the historic information with a view to undertaking a follow-up program of soils geochemistry and IP geophysical surveys prior to drill planning and drill testing.
Apart from this, Navarre is moving to the next stage of evaluating its Tandarra gold project, located 40km north of Bendigo, with the first trial of samples put through the company’s Stawell-based bulk testing facility last week.
The company is conducting a program of testing larger drill samples for contained gold from existing drill chip residues.
Navarre has also applied for an exploration licence at Tatyoon, adjacent to the Ararat Goldfield.
The company has been awarded priority over the area which incorporates a basalt dome target modelled on that currently being mined at Stawell.