North Stawell Minerals has unearthed more shallow, high-grade gold at its Wildwood prospect. 

High-grade gold was found as close as just 15m from surface, with grades ranging up to 46.9 grams per tonne (g/t) – news that was welcomed by investors who sent shares up nearly 18 per cent on Tuesday morning to 43.5c.

North Stawell Minerals (ASX:NSM) share price chart

 

North Stawell Minerals (ASX:NSM), which is undertaking one of the largest (75,000m) drill programs of any ASX-listed junior explorer, is ramping up its exploration in the Stawell gold region of Victoria – part of the state’s famed ‘Golden Triangle’.

With two rigs spinning at the Wildwood prospect, the results are continuing to flow in. The latest top hits returned were 12m at 9.49g/t gold from 34m, including 1m at 46.9g/t, and 5m at 7.5g/t from 15m, including 1m at 16.25g/t.

Drill rigs operate around the clock on NSM’s ground in Victoria. Pic: Supplied.

CEO Steven Tambanis said drilling at Clontarf (northern Wildwood) was delivering significant visual intervals of mineralisation, more so than observed at southern Wildwood.

“The purpose of the Wildwood program is to more accurately define the basalt dome geometry and identify gold mineralisation on the flanks and top of dome with the intention of increasing the current gold resource inventory,” he said.

The Wildwood basalt dome is represented as a 3D yellow solid. Gold mineralisation is targeted at the contact of the basalt dome and overlying sediments. Image is looking directly west with current drilling at Clontarf (upper right of image). Pic: Supplied.

“Learnings from this program will assist NSM exploring the other basalt dome targets in our tenure.

“Our first exploratory drill hole is underway to the north of Wildwood to test the first of 16 additional basalt dome targets on our tenure – an exciting first step into our regional drill program.”

North Stawell has drilled nearly 3,500m in March alone and is expecting diamond core assays over the next month to update the 3D Wildwood model.

An aerial gravity survey is also currently underway to provide detailed gravity data to enhance ongoing drill targeting.

“We regard the Stawell Mineralised Corridor to be one of Australia’s most prospective and historic gold provinces and have a target-rich environment to explore over the next two years with an experienced and enthusiastic team,” Tambanis said.

“Many prospects are already demonstrated to be gold mineralised and we look forward to commencing regional target exploration once the bulk of our first Wildwood drilling is completed.”

 

This article was developed in collaboration with North Stawell Minerals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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