STAWELL - Navarre Minerals is one step closer to unearthing Victoria's first porphyry copper deposit after receiving more encouraging results from its Eclipse prospect at Cherrypool.
The Stawell-based mineral exploration company's latest drill results from Eclipse, located 60 kilometres south of Horsham, revealed a shallow gold and copper zone located above a much bigger and slightly deeper target zone picked up in their recent surveys.
Navarre's exploration surveys are showing the shallow zone of copper and gold mineralisation they have found starting just 30 metres below the surface of the ground is connected to a much larger prize only a few tens of metres deeper.
Navarre Minerals Managing Director Geoff McDermott said it was a big breakthrough for the company as it continues to explore the prospect with the aim of discovering a copper - gold deposit and then establishing a porphyry-copper-gold mine in western Victoria.
"Exploration is all about confidence and to gain that we need the evidence that comes from the drill holes that probe the best areas detected in our surveys," Mr McDermott said.
"Every drill hole of our recent drilling program hit copper and gold mineralisation in a shallow area predicted by our recent surveys to have high potential to contain metal.
"The idea is if we drill deeper into the red areas, we could make a large discovery of copper and gold.
"We're hoping this is our Eureka moment."
During the 1980s to mid-1990s, another mineral exploration company explored some of the area and performed drill hole testing but their deeper holes narrowly missed the current target as can be seen on the diagram.
"It was a near miss in 1990," Mr McDermott said.
"Had they sited their drill hole another 150 metres further to the east, a discovery would have been made and perhaps we would be looking at a mine there now.
"With the benefit of hindsight and the advantages of modern technology, we've been able to learn from the work done in the past and direct our drills into the best possible places for success. We have been aided by our recent geophysics survey which we use to help locate potential sub-surface areas of copper and gold mineralisation."
Mr McDermott is extremely excited with the results, but stressed there was still lots of work to be done.
The next step for Navarre Minerals is to follow up on this latest round of results with a program aimed at testing this new area for copper and gold mineralisation.
Mr McDermott hopes to have the next program established before winter, saying the site 'can turn to quicksand' in the cooler and wetter weather.
"At the moment, we're drawing up our plans and will be seeking permission of the land owners and State Government before going ahead," he said.
Navarre Minerals is optimistic about its prospects of outlining a large mineral deposit and to establish a porphyry copper mine at Eclipse.