Navarre Minerals: High-Grade Gold in First Diamond Drilling at Langi Logan

ASX announcement

About the project

The Langi Logan prospect comprises a 14.5 kilometer length of four potentially fault-bound segments of Cambrian basalt dome structure: the Langi Logan No. 1, 2, 3 and 4 basalts (Figure 2).

Approximately 70% of the prospect is covered by recent post-mineralized volcanic rocks, ranging from a few meters to approximately 30 meters in thickness.

Langi Logan sits in a historically significant deep lead mining area, with 133,000 ounces of recorded gold production.

The prospect continues the style of mineralization found on both the Resolution and Adventure prospects located on the eastern flank of the Irvine basalt dome, as well as the Magdala dome near the operating Stawell gold mine.

The inaugural diamond drilling program had a dual purpose:

First, test below the best shallow AC drill results obtained to date on the east flank of basalt #2 to better understand the host rock types, style of mineralization and control structures.

Second, to test the northern dipping end of the Langi Logan No. 3 basalt, where CSIRO modeling predicted strong potential for gold mineralization (see ASX announcement September 29, 2020).

On the east flank of basalt #2, diamond hole LD002 encountered a maximum assay of 19.8 grams per tonne gold, consistent with the gold grade of prior AC results, in a quartz-rich shear zone -sulfide located on basalt / meta-contact with sediments.

The first drill hole, LD001, was located at a shallow level above LD002 and unfortunately suffered poor core recovery in the critical target zone adjacent to the basalt contact.

The third drill hole, LD003, was located south of LD002 and failed to intersect the basalt contact, indicating potential for lateral Cambrian basalt dome fault displacement in this area. Core from this drill hole, however, returned an anomalous gold intersection of 1.0 meter at 1.7 g/t gold in a mineralized quartz-carbonate vein (see Table 2).

Drill hole LD004 was drilled through the projected north nose of basalt #3 in an area considered promising for gold mineralization, as predicted by CSIRO modeling. The results showed a zone of heavily weathered sediments containing abundant sulphide mineralization with a maximum gold grade of 6.9 grams per tonne, within an anomalous gold zone approximately seven meters downhole length.

The intense alteration and host rock types observed in LD004 in this mineralized zone bear strong similarities to the geology of the nearby five million ounce Magdala gold mine: dark green to black chemically altered sediments containing strong sulphides over an interval of seven meters at the bottom of the hole.

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