The DD program was part of Navarre’s ongoing 8,000 metre drilling campaign currently being undertaken at the Irvine Gold Project. The DD consisted of four holes (RD011 – RD014) for a total of 1,137 metres to depths of up to approximately 200 metres from surface , targeting depth extensions of primary gold mineralisation at Resolution Lode.

All assay results have now been received and the program has been successful in intersecting a significant zone of high – grade gold (or potential ‘ore shoot’) below the shallow oxide gold mineralisation (surface to 50m) discovered in previous air – core (AC) drilling.

The DD campaign aimed to test for the presence of potential higher – grade ‘gold shoots’ below a blanket of lower – grade shallow oxide gold mineralisation which is typical of the gold mineralisation zonation patterns observed in western Victoria, particularly at the Magdala gold deposit.

Drill results from the recently completed four hole program and from the previous seven holes drilled in 2017, most notably in drill holes RD012, RD013, RD002 and RD006, confirm the potential for high – grade gold shoot s developing at depth.

Highlight results from the four hole DD program include :

10.6m @ 6.2 g/t Au from 135.7 m down hole in RD012, including:

1.9m @ 5.2 g/t Au from 136.2 m; and
3.3m @ 16.9 g/t Au from 143.0 m.
10.8 m @ 3.8g/t Au (1) from 244.1m down hole in RD013, including:

4.6m @ 6.2 g/t Au from 244.1m; and
1.8m @ 6.4 g/t Au from 253.1m.
3.8m @ 3.3 g/t Au from 107.1m down hole in RD011, including:

1.5m @ 4.2 g/t Au from 107.1m (1) visible gold present in drill intercept.
These new drill results reinforce the inferred extent, continuity and high – grade nature of the primary gold mineralisation below the surface oxide gold discovery.

Navarre’s DD program fulfils a Victorian Government co – funded grant agreement under the TARGET Minerals Exploration Initiative providing funding of up to $626,000 of eligible expenditure and follows last year’s drilling which highlighted the down – plunge potential for Resolution Lode with intercepts including 18.7m @ 7.1g/t Au from 196.3m (RD006) and 4m @ 9.8g/t Au from 72m (RD002).

Commenting on the drilling program and the most recent DD assays, Navarre’s Managing Director, Geoff McDermott said: “The new drill intercepts continue to grow the potential gold endowment within the Resolution Lode discovery. The mineralised structure remains strong at depth with the two deepest holes drilled to date containing visible gold. The drilling is confirming a potential multiple ‘gold shoot’ type geometry typical of those mined at Stawell’s Magdala gold mine. Our confidence to deliver a maiden mineral resource at Resolution and Adventure l odes is growing as we plan for further drilling in the near future.”

Background to R esolution Lode: Resolution Lode is a recent primary gold discovery on the north – east flank of the Irvine basalt dome and was the first prospect drilled at the Irvine Gold Project following encouraging results from mapping, rock chip sampling and geophysics. A thick 50m zone of oxide gold , extending from surface over a strike length of 1,6 00m, has been defined with air – core (AC) drilling and re mains open at depth. Expansion of this mineralised zone into the sulphide zone with deeper drilling is a key focus for the Company and the first steps in building a gold inventory for resource estimation. The DD program has provided the fi rst detailed and important structural and stratigraphic information for Resolution Lode and has confirmed significant depth extension of the gold mineralisation. Some of the previous best drill intercepts include:

18.7m @ 7.1 g/t Au (1) from 196.3 m, including 5.7m @ 11.6g/t Au and 4.7m @ 12.2 g/t Au in hole RD006.
2.9m @ 12.9 g/t Au from 79.7m down hole in RD001.
4.0m @ 9.8 g/t Au (1) from 72m down hole in RD002.
3.2m @ 3.3g/t Au from 138.2m, including 1.6m @ 6.4g/t Au in hole RD005.
6.0 m @ 6.3g/t Au from 66 m down hole including 1m @ 24.6g/t Au in IAC018.
3.0 m @ 4.7g/t Au from 28m in IAC027.
Details of DD drill intersections :

Three of the four recently completed d iamond drill holes (RD011, RD0 12 and RD013) intersected a strong, steeply west – dipping shear structure containing abundant quartz – sulphide mineralisation and, in the case of RD013, several specks of visible gold. The shallow RD014 hole appears to have intersected a weaker zone of gold mineralisation where the mineralised structure appears narrow and associated hydrothermal alteration halo is also weakly developed.

In summary of the drill intercepts :

RD011 – intersected a mineralised quartz – sulphide structure at approximately 10m below air – core (AC) hole IAC018 which had returned 6m @ 6.3 g/t Au from 66m down hole. The 3.8m @ 3.3 g/t Au intercept recorded in RD011 was partially‘s toped – out’ (replaced) by a post – mineralisation lamprophyre dyke that are commonly present within the Victorian goldfields. RD012 – recorded the best intercept of the four holes drilled – 10.6m @ 6.2 g/t Au. This hole was sited 40 metres below RD011. This hole opens up the potential for further expansion of high – grade mineralisation to the south.

RD013 – was the deepest hole in the program and intersected five small specks of visible gold. The hole intersected two strong er zones of high-grade gold (4.6m @ 6.2 g/t Au and 1.8m @ 6.4 g/t Au) within a broader zone of 10.8m @ 3.8 g/t Au. This hole intersected the west – dipping mineralised shear structure in a similar structural position to RD012. The nearest drill intercepts to RD013 include the high – grade RD012 and RD006 which are 100 and 200 metres away respectively.

RD014 – intersected the mineralised quartz – sulphide shear structure but was not strongly developed in this position. The estimated true widths of the mineralised intercepts for the four drill holes is interpreted to be between 40 – 60 percent of the quoted down hole intervals (refer to JORC table at the end of this release for further explanation).

The primary gold mineralisation is associated with quartz veins that contain disseminated sulphides including arsenopyrite, pyrite and pyrrhotite with associated alteration assemblages including chlorite, sericite, silica and quartz – carbonate veining. Like RD006, 200m further north, visible gold was detected in the drill core of hole RD013.

Commenting further on the new diamond drill core assays , Geoff McDermott said:

“These assay results from the four expansion diamond core holes testing Resolution Lode at depth provides further confidence in the continuity and extent of gold mineralisation below the laterally extensive oxide cap. “The width and tenor of the deeper intersections demonstrates considerable potential to expand the Resolution Lode gold discovery at depth. We continue to believe the Irvine Gold Project may be a potential multi – million ounce analogue to Stawell’s Magdala gold deposit and that the best way to demonstrate this is to expand our drill testing to the multiple prospects, targets and anomalies we have identified along the flanks of the +8km long Irvine basalt dome.”

Source: Company Press Release