(MENAFN- ProactiveInvestors - Australia) Navarre Minerals (ASX: NML) has discovered coarse visible gold nuggets during air core drilling on the Macnaughtan Line at the Tandarra prospect in Victoria.
It said this was further evidence of similarities between Tandarra and the Bendigo Goldfield about 40 kilometres to the south.
Examination drill chips from sample residue of a previously announced high-grade gold result from air core drilling revealed multiple grains of visible gold up to 4.5mm in length from an interval assaying 1.5m at 59.2 grams per tonne (g/t) gold within a broader 4.5 metres at 23.1g/t gold interval;.
This is the first time visible gold has been seen on the Macnaughtan Line.
Closer examination revealed the gold is primary and is hosted in weathered, bleached shale and hematite altered quartz. The gold nuggets also show evidence of a black iron oxide coating probably after sulphide.
Preliminary interpretation of these results indicates that the high-grade gold mineralisation is located close to the hinge of the Macnaughtan Anticline and may represent the eastern leg of a saddle reef or, alternatively, part of a west- dipping reverse fault that breaches the eastern limb of the anticline.
Navarre plans to drill a number of infill air core holes on section to assist definition of the reef geometry and its controlling structures for step-out drill testing along strike.
Tandarra is part of the Bendigo North group of gold projects, located 40km north of Bendigo, Victoria, Australia.
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