Stawell Corridor Gold Project
(incorporates Irvine and Langi Logan gold projects)

Location

Western Victoria, Australia

Geological Province

Cambro-Ordovician Stawell Zone of the Lachlan Fold Belt

Commodity

Gold

Ground holding

Exploration Licences 5476, 5480, 006525, 006526, 006527, 006528, 006702 & 006745 and Exploration Licence Applications 006530 & 006843 (approximately 350 km2)

Status

Navarre Minerals 100%

Project Summary

Navarre’s Stawell Corridor Gold Project (incorporating the Irvine and Langi Logan gold projects and five other basalt dome targets) captures 60 kilometres of a multi-million-ounce gold zone, stretching south from the recently re-opened Stawell Gold Mine, operated by Melbourne-based private equity firm, Arete Capital Partners Pty Ltd (Figure 1).

A 40km section of exposed basement rocks within this ‘Corridor’ has yielded over six million ounces of gold in two multi-million-ounce goldfields – the Stawell and Ararat goldfields.  The southern extension of the Stawell Gold Corridor beyond the historical goldfields is concealed by cover and is a prime exploration target.

Navarre’s exploration model for the Stawell Gold Corridor is based on the 4Moz Magdala gold deposit in Stawell where primary gold mineralisation occurs proximal to the margins of large basalt dome structure (Figure 2).  The basalt structures are rigid and do not deform as much as the surrounding sediments.  Deformation of these rocks leads to the creation of voids where the contrast in rock properties is greatest, allowing quartz veining and gold mineralisation to form around the basalt margins.

The largest gold mine along the Stawell Gold Corridor is Stawell’s Magdala Gold Mine which is producing gold from a deposit that has a surface footprint of 900m and has been mined to depths of more than 1,600 metres below surface.  The Magdala gold deposit has contributed more than 4 million ounces of the total 5 million ounces of gold produced to date from the Stawell Goldfield (Figure 2).

Navarre is advancing its recent gold discoveries at the Irvine Gold Project (Resolution and Adventure lodes) and the Langi Logan Gold Project towards a potential multi-million-ounce gold inventory.  Based on initial high-grade gold drilling successes, exploration has been prioritised for further shallow drilling at the Langi Logan Gold Project in order to scope its potential contribution toward a maiden mineral resource estimate for the Stawell Gold Corridor.

Irvine Gold Project

The Irvine Gold Project is located 20 kilometres south of the Stawell Gold Mine and was identified in 2015 from mapping, sampling and geophysics (NML ASX release 12 June 2015).  The Project occupies the north 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 3).

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 chose to search for economic primary gold mineralisation near the richest alluvial gold deposits (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).  In December 2017 Navarre made its second discovery of significant oxide gold mineralisation within a 1.7km long quartz structure subsequently named Adventure Lode, approximately 4 kilometres south of the Resolution Lode on the Irvine basalt dome (Figures 4 & 6).  In 2018, a follow-up RC drilling program was completed at Adventure Lode testing the mineralised structure to 120m below surface. The drilling confirmed four high grade gold shoots, with two of the shoots remaining open at depth (Figure 6). The pattern of gold distribution at the Adventure Lode has similarities to the 4.0Moz Magdala Gold Mine at Stawell (Figure 2).

The Adventure and Resolution lode structures remain open at depth and is interpreted to extend to great depths on the eastern flank of the Irvine basalt, as does the Magdala gold deposit which has been mined to 1.6kms below surface (see NML ASX releases of 28 May 2018 & 29 January 2019).

Langi Logan Gold Project

The Langi Logan Gold Project is the next major basalt dome target south of the flagship Irvine Gold Project (Figure 1).  Navarre has identified three priority targets for drill testing along the margins of the Langi Logan basalt dome – Targets A, B & C in Figure 7.  These targets have been identified based on multiple coincident anomalies, including gravity, gradient array induced polarisation (GAIP) plus several significant, historical drill intercepts.

Over 120,000 ounces of alluvial gold was historically mined from the nearby Cathcart Central and New Langi Logan shafts (Figure 7).  Although the source of the alluvial gold is uncertain, it occurs in close proximity to the Langi Logan basalt dome which the Company believes is an encouraging sign for the occurrence a potential Stawell-style gold deposit.

Navarre commenced its maiden first-pass AC drilling at Langi Logan in November 2018 (see NML ASX release of 20 November 2018) and has subsequently delivered multiple high-grade gold intersections, with individual assays up to 33.6 g/t gold (see ASX announcements of 11 December 2018, 30 January 2019 & 12 February 2019).

Highlight results from the AC drilling include (See Figures 7 & 8):

  • 2m @ 19.4 g/t Au from 43m in LLA031, including:
  • 1m @ 33.6 g/t Au
  • 4m @ 1.7 g/t Au from 68m in LLA030, including
    • 1m @ 4.5 g/t Au
  • 33m @ 2.9 g/t Au from 66m to end of hole* in LLA014, including:
  • 11m @ 5.1 g/t Au from 75m, including:
    • 1m @ 15.8 g/t Au
    • 1m @ 9.5 g/t Au
  • 4m @ 3.2 g/t Au from 66m, including
    • 1m @ 7.4 g/t Au
  • 5m @ 3.5 g/t Au from 94m
  • 1m @ 7.6 g/t Au from 37m in LLA001
  • 16m @ 1.2 g/t Au from 86m in LLA024, including:
  • 7m @ 2.4 g/t Au from 95m, including:
    • 1m @ 11.1 g/t Au
  • 2m @ 4.3g/t Au* from 48m in LLA023, including:
    • 1m @ 8.1g/t Au

* does not test full extent of gold mineralisation

The results support Navarre’s view that Langi Logan has the potential to be a new large-scale, high quality shear-hosted gold system similar to Stawell’s 4Moz Magdala Gold Mine.

Click here to download the information required by Part 2 of Schedule 8 of the MRSD Regulations 2013 for ELA 006843

Figure 1: Stawell Corridor Gold Project location map.

Figure 2: 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 3: Alluvial gold footprint of the historical Ararat Goldfield (pink) relative to the recently mapped outline of the Irvine basalt dome (yellow).

Figure 4: Irvine Gold Project map showing discovery areas, prospects and targets.

Figure 5: Longitudinal projection of Resolution Lode.

Figure 6: Longitudinal projection of Adventure Lode.

Figure 7: Langi Logan Gold Project gravity image showing recent AC drill results, geological interpretation and priority target areas.

Figure 8: Langi Logan Target A interpreted cross-section through drill hole LLA014