Navarre Minerals (ASX: NML)
Navarre Minerals (ASX:NML) has two gold projects within Victoria’s Golden Triangle and has discovered significant gold mineralisation at both.
Its early stage Stawell Corridor Gold Project and its more advanced Tandarra Gold Project are part of a new goldfield emerging in central Victoria with opportunities for open pit and underground mining.
Tandarra is in good company. It’s located next door to the 4 million ounce Fosterville Gold Mine – Victoria’s largest and highest grade gold mine.
There is a bigger connection here as well: Toronto listed Kirkland Lake Gold, NML’s largest shareholder, has just discovered more than a million ounces of gold worth $1.1 billion at its Fosterville Gold Mine.
NML will be hoping for similar gains.
The numbers look just as solid at NML’s 100%-owned Stawell Corridor Gold Project, located just 15 kilometres south of Stawell’s four million ounce Magdala gold deposit.
Magdala produced 4 million ounces of gold from a 3-kilometre strike length and NML’s project has a current strike of 8 kilometres – which may be extended.
Suffice to say NML could potentially be in possession of Magdala’s ‘big brother’.
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NML aims to be a significant multi-project gold company and with the Stawell Corridor and Tandarra Projects shaping up the way they are, the $9.1 million capped company is extremely well placed to do just that.