Stawell Corridor Gold Project
(incorporates Irvine Gold Project)

Location

Western Victoria, Australia

Geological Province

Cambro-Ordovician Stawell Zone of the Lachlan Fold Belt

Commodity

Gold

Ground holding

Exploration Licences 5480 & 5476 (434 km2) and Exploration Licence Applications 006418, 006525, 006526, 006527, 006528 & 006530

Status

Navarre Minerals 100%

Project Summary

Navarre’s Stawell Corridor Gold Project (incorporating the Irvine Gold Project) captures 70 kilometres of a multi-million-ounce gold zone, stretching south-east from the Stawell Gold Mine which is owned by Navarre’s largest shareholder, Kirkland Lake Gold Ltd (Figure 1).

Combined, Ararat and Stawell have delivered approximately 6 million ounces of historic and modern gold production.

The Irvine Gold Project is located 15 kilometres south of Stawell’s Magdala Gold Mine and was identified in 2015 (NML ASX release 12 June 2015).  The prospect occupies the northern end of the Ararat Goldfield, which is estimated to have produced approximately one million ounces of gold mainly from alluvial and deep lead production during the period 1854 to 1925 (Figure 2).

Production of primary hard-rock gold from the Ararat Goldfield was low given the richness of the alluvial deposits, in contrast to the Stawell Goldfield, and is one of the reasons why Navarre is searching for economic primary gold mineralisation near the richest alluvial gold deposits (Figure 2).

The largest gold mine along the Stawell Corridor is the Magdala Gold Mine, now on care and maintenance, which has produced gold from a deposit that has been mined to depths more than 1,600 metres below surface.  Modern gold mining at Stawell has been continuous from 1982 until December 2016 with the Magdala gold deposit contributing more than 4 million ounces of the total 5 million ounces of gold produced to date from the Stawell Goldfield (Figure 3).

Gold mineralisation of the Stawell-style occurs proximal to the margins of large basalt dome structures. The basalt structures are rigid and do not deform as much as the surrounding sediments.  The deformation leads to the creation of voids allowing quartz veining and gold mineralisation to form around the basalt margins (Figure 3).

In June 2017, Navarre completed its first season of drilling, testing the potential for the Irvine Gold Project to be an analogue of the multi-million ounce Magdala gold deposit. The program targeted the primary reef source to approximately 1 million ounces of alluvial gold production mined during the 19th century on the Ararat Goldfield and resulted in the discovery of the Resolution Lode (Figures 4 & 5). Five other similar targets have been identified along the margins of the 8km long Irvine basalt dome and will be the focus for drill testing into 2018 (Figure 5).

Click here to download the information required by Part 2 of Schedule 8 of the MRSD Regulations 2013 for ELA 006418 Click here to download the information required by Part 2 of Schedule 8 of the MRSD Regulations 2013 for ELAs 006525, 006526, 006527, 006528 & 006530

Figure 1: Stawell Corridor Gold Project location map.

Figure 2: Alluvial gold footprint of the historical Ararat Goldfield (pink) relative to the recently mapped outline of the Irvine basalt dome (yellow).

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Figure 3: Schematic diagram of Stawell’s Magdala Gold Mine showing the distribution of multiple shoots of gold mineralisation on the western flank of the Magdala basalt (diagram modified from Kirkland Lake Gold Ltd presentation 3-7 October 2016).

Figure 4: Longitudinal projection of the Resolution Lode showing recent drill intercepts and the interpreted plunge of gold mineralisation. (Note: Diamond holes have an “RD” prefix, “IAC” refers to AC holes.)

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Figure 5: Priority AC drilling areas (blue polygons) adjacent to the Irvine basalt dome.