9 October, 2017 – Proactive Investors Australia Navarre Minerals Limited’s (ASX:NML) shares were trading circa 4% higher intra-day after commencing a new phase of drilling at its Irvine Gold Project in Victoria. The drilling is a targeted air-core program comprising up to 7,000 metres in multiple traverses of angled holes across six targets, with drill depths of up…
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 copper projects in Victoria, Australia.
Navarre is searching for gold deposits in the partially covered extension of a corridor of rocks that host the Stawell (~5 million ounce) and Ararat (~1 million ounce) goldfields. The discovery of outcropping gold mineralisation at the Irvine and Benno prospects is a prime focus for the Company in 2017. These prospects are located 15km south of the operating Stawell Gold Mine which is owned by Navarre’s largest shareholder and leading Victorian gold producer, Newmarket Gold Inc.
At the high-grade Tandarra prospect within the North Bendigo Goldfield of central Victoria, exploration work is targeting the next generation of gold deposits under shallow cover 40kms north of the 22 million ounce Bendigo Goldfield. Under a farm-out agreement, Catalyst Metals Limited is earning a 51% equity interest in Tandarra by spending $3 million over four years by advancing the project towards mineral resource status.
The Company is also targeting large VMS, porphyry-copper and gold deposits. The Western Victoria Copper Project captures multiple, largely untested targets in 130km of western Victoria’s newly uncovered Stavely Arc volcanics.