OWNERSHIP
Navarre Minerals 49%
Catalyst Metals 51%
COMMODITY
Gold
LOCATION
North-West of Melbourne, Victoria
GEOLOGICAL PROVINCE
Bendigo-Ballarat Zone of Lachlan Fold Belt overlain by Recent Murray Basin cover
PROJECT STAGE
Advanced Exploration
The Tandarra Gold Project is a gold discovery located 40kms north of the 22 million ounce Bendigo Goldfield along the Whitelaw Fault Corridor and approximately 60kms northwest from Kirkland Lake Gold’s world-class Fosterville Gold Mine. It is an advanced exploration project and a Bendigo analogue with confirmed high-grades of gold associated with several quartz reef structures.
Tandarra is a greenfields (virgin) gold discovery undercover in the North Bendigo Zone of Victoria (an area of about 7,600km2) that the Geological Survey of Victoria has estimated the undiscovered gold endowment to be about 32 million ounces.
Historically there has been limited exploration as the recent Murray Basin sedimentary cover masks the basement gold mineralisation.
Tandarra Gold Project
Navarre believes Tandarra has potential to become a new goldfield in central Victoria with opportunities for both open pit and underground mining.
In 2014 Navarre entered into a Farm-out agreement with Catalyst Metals (ASX:CYL) and in late 2018 a Joint Venture (JV) was formalised after CYL achieved a 51% interest in the project by spending $3m. CYL is the JV Manager and expenditure is contributed pro-rata. The project adjoins Hancock Prospecting Pty Ltd and CYL’s jointly owned Four Eagles Project.Several outstanding and potentially economic wide, high-grade gold intercepts have been returned in drilling with gold mineralisation starting from 20m depth on the Tomorrow prospect, with better intercepts including:
17m @ 7.1 g/t Au
10m @ 17.9 g/t Au
11m @ 6.2 g/t Au
10m @ 4.8 g/t Au
Recent drilling by the JV has shown the potential for auriferous reef repetition or “stacking” at depth. Significant high-grade gold with individual assays up to 32.2 g/t gold were intersected. Highlight results include (see CYL ASX release of 26 February 2019):
2m @ 17.4 g/t Au, including 1m @ 32.2 g/t Au from 332m (DDT018)
The stacked mineralised zones support the theory that Tandarra is analogous with both the Bendigo and Fosterville goldfields.
In addition to the drilling completed on the Tomorrow prospect, shallow first-pass regional reconnaissance drilling targeting gravity anomalies has located several areas of alteration and quartz veining associated with gold. These are positive indicators for discovery of new reef areas. The best intercept was 2m @ 33.1 g/t gold within quartz veining located 5km north and on-trend of the Tomorrow Prospect.
Navarre believes Tandarra has potential to become a new goldfield in central Victoria with opportunities for both open pit and underground mining.
