It has completed 4000 metres of drilling and is likely to extend the air-core program beyond 5000 based on results.
The St Arnaud announcement follows a similar exploration report from Navarre Minerals’ efforts to find precious metals south-west of Ararat.
These latest results come from nine of 12 east-west traverse lines across St Arnaud’s New Bendigo Line, representing 1240 metres of drilling in 19 holes.
The program is Navarre’s first drill testing beneath the shallow gold workings of a recently granted exploration licence.
This permit covers most of the historical mines of the old St Arnaud Goldfield, which produced 400,000 ounces of gold between 1855 and 1916. The licence includes gold-bearing New Bendigo – Bristol, New Chum and Nelson lines.
After testing 2.6 kilometres of the New Bendigo Line, Navarre’s attention will shift east towards the prolific Nelson Line. This target is home to Lord Nelson Mine, which in producing 300,000 ounces of gold is St Arnaud’s largest gold producer.
The company’s broader air-core program covers 32 holes totalling 2761 metres on regional targets on an adjacent exploration licence.
In this licence, the company previously identified gold and silver mineralisation extending for at least five kilometres north of St Arnaud Goldfield under shallow Murray Basin cover.
Navarre has two of its six operating drilling rigs deployed at St Arnaud.
Navarre managing director Ian Holland said it was great to see ‘strong’ gold results generated from the company’s first reconnaissance drilling campaign on the new exploration licence.
“We are currently drilling in the shadow of St Arnaud’s second largest historical mine, the New Bendigo shaft, and we are encouraged by the tenor and widths of the near-surface gold mineralisation intersected to date,” he said.
“St Arnaud is the second largest hard-rock goldfield in Victoria’s Stawell Geological Zone which, until now, has missed out on Victoria’s gold resurgence.
“We look forward to sharing strong news-flow over the coming months.”
The entire April 7, 2021 edition of The Weekly Advertiser is available online. READ IT HERE!
