THE DRILL SERGEANT: Stawell‐based Victorian gold exploration company, Navarre Minerals has struck a further high‐grade gold intercept from air‐core drilling at its Tandarra prospect, located 40 kilometres north of Bendigo.
The company said the AC hole intersected a peak assay of:
– 1 metre at 26.2 grams per tonne gold within a 12 metre down‐hole interval assaying between 0.3 grams per tonne gold and 2.8 grams per tonne gold.
The result was determined by duplicate sampling from a depth of 107m on a quartz structure on the Macnaughtan line.
The Macnaughtan line is one of three parallel quartz reefs Navarre has confirmed through drilling at Tandarra.
The company said its 2011 drilling program had now confirmed high‐grade gold mineralisation on the Macnaughtan and adjacent Tomorrow lines, which the company announced in June, had returned 10m at 34.4 grams per tonne gold from 37m below surface.
The latest hole was one of 18 drilled at Tandarra in a program totalling 1,542 metres that the company conducted to confirm potential mineralised quartz reef targets.
Of the 18 holes drilled, 15 intercepted quartz reef targets, of which seven returned gold intercepts.
“The company is greatly encouraged that the drilling continues to prove up the validity of the geophysical methods of detecting these shallow quartz reef structures and by the continued presence of high‐grade gold,” Navarre Minerals managing director Geoff McDermott said in an announcement to the Australian Securities Exchange.
The company said it preparing to commence a $4.2 million six month intensive drilling and geophysics program.
It has already begun a 110 line kilometre geophysics program to map the Tandarra prospect with the aim of detecting additional shallow quartz structures and to extend the known strike of quartz reefs over an area measuring 9km by 12km referred to as the Tandarra basement dome.
“We will now undertake a program of up to 50,000 metres of drilling on the geophysical targets,” McDermott continued.
“This will comprise a combination of air‐core (for confirming the quartz targets) and reverse circulation and deeper diamond drilling (for gold grade evaluation).
“This program is designed to provide enough information from which to estimate a mineral resource in the second half of 2012.
“This is a major exploration program we are undertaking.
“Our aim is to identify the potential of these relatively shallow quartz structures and also to assess the potential for secondary gold mineralisation deposited in gravels as a result of erosion of other quartz reefs over millions of years.
“We look forward to our accelerated exploration effort to delineate gold at Tandarra.”