Australian-based resource company Navarre Minerals has commenced its maiden air-core (AC) drilling program to test the Irvine gold prospect at its 100%-owned Stawell Corridor Gold Project in western Victoria.
The drilling is part of a work program co-funded by a Victorian Government TARGET Minerals Initiative agreement, which includes milestones that will trigger the staged release of funds.
The initial drill program – which is expected to comprise 4,000m of AC drilling with a nominal drill depth of 60m – is designed to test for the primary reef source to approximately 1 million ounces of alluvial gold production mined during the 19th century.
“Recent filed investigations have identified a number of shallow geochemical and geophysical targets proximal to the alluvial workings which may form part of the potential source to the Ararat Goldfields alluvial production,” Navarre told the ASX.
“All targets are proximal to historic mine workings and have never been drill tested, except one which retuned 0.5m @ 7.2 g/t gold from 86.5m in DD94AA254 and remains open in all directions.”
According to the company, a follow-up drill program will be initiated in early 2017 on receipt of positive results from the initial AC drilling.