STAWELL - Stawell-based gold exploration company Navarre Minerals Limited has announced a successful diamond drill result at its Kingston Gold project.
The drill produced a result of 16.9 metres at 5.5 grams of gold per tonne from a depth of 65.7m down-hole.
This includes 3.1m at 29.5 grams of gold per tonne in the first hole of a seven hole program at the 100%-owned Kingston Gold Project, located 30 kilometres northeast of the Stawell Gold Mine.
Visible gold was identified between 65.7m and 65.9m down-hole within a quartz breccia on the hangingwall side of a quartz lode structure.
The drill hole is the first geologically logged and assayed hole of three completed holes drilled by Navarre Minerals as follow-up to several shallow historic high grade gold intercepts recorded in percussion drilling adjacent to the old Kingston Mine workings.
Named DDK001, the hole was drilled targeting high grade gold mineralisation 10 metres north of percussion hole KINC058 which intersected nine metres at 40.5 grams per tonne from 78m down-hole.
Unlike the previous percussion holes, Navarre Minerals' diamond drill program is expected to provide a vital understanding of the structural and stratigraphic controls on gold mineralisation as well as information about the geometry and alteration assemblages to better plan further drill testing of the Kingston Reef system. Historic gold workings occur within a northeast trending zone of quartz stockwork veining and associated brecciation defining an area of approximately 100m wide and over one kilometre in strike length.
Three diamond holes for 451m of diamond drilling have now been completed with all holes intersecting a quartz lode structure. Another four holes of the 1,200m drill program targeting high grade gold in quartz veins is expected to be completed within the first quarter.
Kingston is an historic gold mine worked in the early 1900s. Mineralisation encountered in the first three diamond holes is similar in character to that mined 30 kilometres southwest in AuRico Gold Inc.'s Wonga Mine (part of the Stawell Gold Mine).
"This first drill assay result is highly encouraging and has confirmed the gold potential and prospectivity of our Landsborough Fault tenements," Navarre Minerals Managing Director, Geoff McDermott said.
"We now rank the Kingston Gold Project second only to our flagship Tandarra project in our gold exploration priorities in Victoria.
"In early February we will fly a 4,200 line kilometre airborne magnetic survey across the old Kingston Mine and Landsborough Fault to better define the geology from which we will prioritise and rank our regional drilling opportunities.
"We have a dominant land position along the prospective Landsborough Fault, a parallel fault system to the nearby Stawell Fault which we believe is a controlling structure for over 5 million ounces of historic gold production."
Navarre Minerals expects to release in the coming weeks more drill results from two further diamond holes at the Kingston project as well as results of recent reconnaissance air-core drilling and reverse circulation resource definition drilling at the Tandarra project.
Email a friend