3 May, 2020 – Stockhead by Barry FitzGerald Mining companies and explorers came from far and wide to lodge tenders in Victoria’s hotly contested release of four exploration blocks surrounding Kirkland Lake’s (ASX:KLA) fabled Fosterville gold mine near Bendigo. Tenders for the mineral exploration rights to the four “prospective’’ blocks closed in February and the winners were…
Navarre Minerals Limited (ASX: NML) is an Australian-based resources company that is creating value from a portfolio of early to advanced stage gold and base metals projects in Victoria, Australia.
Navarre is searching for gold deposits in an extension of a corridor of rocks that host the Stawell (~5 million-ounce) and Ararat (~1 million-ounce) goldfields (the Stawell Corridor Gold Project). The discovery of gold on the margins of the Irvine basalt dome and high-grade gold in shallow drilling at Langi Logan are a prime focus for the Company. These projects are located 20km and 40km respectively south of the operating 4 million-ounce Stawell Gold Mine.
The high-grade Tandarra Gold Project is located 50km northwest of Kirkland Lake Gold’s world-class Fosterville Gold Mine, and 40km north of the 22 million-ounce Bendigo Goldfield. Exploration at Tandarra, in Joint Venture with manager, Catalyst Metals Limited (NML 49%), is targeting the next generation of gold deposits under shallow cover in the region.
The Company is searching for high-grade gold at its St Arnaud Gold Project. Recent reconnaissance drilling has identified gold mineralisation under shallow cover, up to 5km north from the nearest historical mine workings, which the Company believes may be an extension of the historic 0.4 million-ounce St Arnaud Goldfield.
The Company is also targeting large volcanic massive sulphide, epithermal and porphyry copper-gold deposits in the Stavely Arc volcanics in western Victoria. The Project area captures multiple polymetallic targets in three project areas including Glenlyle, Black range and Stavely. All properties are 100%-owned except EL5425 where Stavely Minerals Limited is earning an 80% interest by spending $0.45M over 5 years.