Published: November 12, 2018 |

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Navarre has retention license from the Victorian Department of Economic Development, Jobs, Transport and Resources (DEDJTR) for the Tandarra Gold Project.

Retention License RL006660 has been granted to the company for a ten-year term expiring on November 2, 2028.

The program of work and milestones have been agreed with the DEDJTR and will require expenditure of $3.1 million during the ten-year period.

The granting of the Retention License follows the acceptance of the Mineralization Report in August 2018 which confirmed that significant gold mineralization had been discovered in the project area. The Retention License is designed to enable the project to progress from exploration to feasibility and replaces the existing Exploration License EL4897.

The Tandarra Project (EL 4897) is a gold discovery under shallow cover, located approximately 60kms northwest from Kirkland Lake Gold’s world class Fosterville Gold Mine.

The Tandarra Gold Project is located in the Whitelaw Gold Belt in Victoria. In December 2017, an application was lodged with DEDJTR for a Retention License (RL006660) to replace EL4897 and a Mineralization Report and program of works was also lodged to show that significant gold mineralization had been discovered in the project area.

Following grant of the Retention License, a 51 percent equity interest will be formally transferred to Catalyst’s wholly owned subsidiary, Kite Operations Pty Ltd, as all conditions under a September 2014 Heads of Agreement between the two companies have been satisfied. Catalyst is the Manager of the Joint Venture.

A Joint Venture agreement for the project is in the final stages of preparation.

Source: Compelo

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