Western Victoria Copper Project

Location

Western Victoria, Australia

Geological Province

Delamerian Grampians – Stavely Zone or Miga Arc

Commodity

Copper, Gold, Molybdenum, Silver, Zinc

Ground holding

Granted ELs 4590, 5425, 5426 & 5497, (839 km2)

Status

Navarre Minerals 100%

Project Summary

Navarre’s 100%-owned Western Victoria Copper Project captures multiple, largely untested porphyry copper –gold and volcanic massive sulphide (VMS) targets in 130 kilometres of Miga Arc volcanics (Figure 1), including the Eclipse, Lexington, Glenlyle and Pollockdale prospects.

The Miga Arc is recognized as a continental margin arc setting similar to the Andes in South America, host to some of the world’s largest known porphyry copper deposits.

Grassroots exploration of the Company’s extensive exploration permits is at an early stage and more than 50 new targets remain to be tested.

Figure 4: Eclipse RC drill activity, June 2014

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Eclipse prospect (EL 4590)

Following the completion of an IP geophysics survey at Eclipse that detected three anomalies interpreted to represent VMS and porphyry – copper targets (Figure 2), the Company completed a shallow drill campaign targeting IP Target 1.  This resulted in the discovery of a supergene blanket of enriched copper (chalcocite) mineralisation of up to 2.8% copper and 3.6g/t gold starting at only 30 metres from surface (see ASX release 24 March 2014).   Follow-up drilling, searching for the primary mineral source beneath the enriched copper blanket, encountered encouraging copper, gold and zinc results over broad intervals (Figures 3, 4 & 5).

Recent drilling highlights include:

  • 136 metres at 0.3 grams of gold per tonne from 2 metres to end of hole in RCBR0012; including 107 metres at 0.2% copperfrom 31 metres to end of hole;
  • 95 metres at 0.1% copper from 25 metres to end of hole in RCBR0017;
  • 15 metres at 0.2% copper & 0.2 grams of gold per tonne and 38 metres at 0.2% copper & 0.1 grams of gold per tonne from 39m and 78m down-hole, respectively in RCBR0013;
  • 20 metres at 0.4 grams of gold per tonne from 35m, including 1 metre at 3.6 grams of gold per tonne in RCBR0014;
  • 11 metres at 0.6 grams of gold per tonne from 71m, including 4 metres at 0.9 grams of gold per tonne in RCBR0015;
  • 44 metres at 0.1% copper from 94m, including 3 metres at 1.0% copper & 0.1 grams of gold per tonne & 5.4 grams of silver per tonne from 94m down-hole in RCBR0018.
  • 15m at 0.7% copper, 1.9% zinc and 0.8 grams of gold per tonne from 28m down hole in RC92GM52, including 4.0m at 1.8% copper, 2.3% zinc and 0.4 grams of gold per tonne;
  • 13m at 0.7% copper and 0.2 grams of gold per tonne from 29m down hole in RC92GM55, including 2.0m at 2.2% copper and 0.5 grams of gold per tonne; and
  • 2.0m at 3.0% copper and 2.0 grams of gold per tonne from 37m down-hole in RC93GM65.

(see NML’s various ASX releases for further details of drill results)

Figure 2: Plan view of the Eclipse prospect showing location of three IP geophysics targets.

Figure 3: Eclipse RC drill activity, January 2014

Figure 4: Eclipse RC drill activity, June 2014

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The results of the drill programs into IP Target 1 indicate:

  • A shallow supergene blanket of copper (chalcocite) mineralisation occurs as a discrete, roughly 400m (north-south) x 200m (east-west) area of enriched copper averaging approximately 0.5% copper. Results from RCBR0018 show this copper zone to deepen southwards beneath the sandstone cover with potential for more hidden copper mineralisation in this area (see Figures 2 & 5);
  • Limited drill testing below the supergene chalcocite suggests the enriched copper blanket is derived locally from weathering of an underlying body of pyritic copper-gold-zinc mineralisation; and
  • Broad intervals of primary copper, gold, silver and zinc mineralisation at depth beneath the supergene chalcocite blanket remain open to the south and at depth, and are now thought likely as part of a VMS system.

The shallow drilling completed to date has provided vectors towards a deeper target zone outlined by geophysics (Figure 5). This area, together with initial drill testing of IP targets 2 and 3, will be the subject of subsequent drill programs.

Figure 5: Longitudinal projection of Target 1 of the Eclipse prospect showing location of recent drilling, the supergene chalcocite blanket and interpretation of deeper targets

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Stavely – Lexington prospect (EL 5425)

At Lexington, the Company is searching for new porphyry copper-style discoveries.  Geological mapping and rock chip sampling is generating high priority targets which will be the focus of ongoing work.

Glenlyle prospect (EL 5497)

The Company was recently granted exploration licence EL 5425 (“Glenlyle”), covering 61 square kilometres of the Miga Arc copper belt adjoining the Company’s existing Stavely tenement where porphyry copper-gold deposits are being sought (Figure 1).

Review of shallow drilling from 1991 suggests potential for VMS and porphyry-style mineralisation based on anomalous gold and base metal geochemistry developed within sericite and pyrite altered rocks that lie beneath thin basalt cover.

The Company is completing its review of previous exploration data to identify key exploration targets.