North Stawell Minerals (ASX:NSM) has reported visible and high grade gold from diamond drilling at the Wildwood prospect, within the gold rich Stawell Zone in Victoria.
Highlights:
- Top hits featured 5.60m at 8.72g/t gold from 201.1m and 10.05m at 3.88g/t from 247.85m, including 7.00m at 5.30g/t from 250.9m.
- Targeting focused on structures with strong geological similarities to the controls on multi-million-ounce mineralization at Stawell, 25km to the south.
- The drill holes confirm the effectiveness of ongoing geological re-modelling at Wildwood to identify structural positions with strong correlations to the controls observed at the multimillion-ounce Stawell Mine.
- The drill holes consolidate a 350m plunging, structurally controlled ore-shoot that does not form part of the historic inferred resource (55koz at 2.0g/t).
- An update of the Wildwood resource will be completed in the June quarter 2023.
“The drilling at Wildwood is an exciting result for NSM,” Chief Executive Russell Krause said.
“Targeting the down-plunge continuation of mineralization beneath the historic Inferred Mineral Resource (55koz at 2.0g/t Au) has added significant confidence in the continuity of plunging mineralization.
“North Stawells’ strategy throughout the Stawell Zone under cover is the identification of near-surface mineralization and to follow the potential to depth. This is a significant contrast to historic drill programmes, which primarily focussed on shallow mineralization potential.
“The drill targeting benefits from a whole-of-project re-interpretation of the geology in advance of a resource update. The re-interpretation further highlighted the structures similar to those controlling mineralization at the multi-million-ounce Stawell Mine, 25km to the south. These are embayments in the basalt that cores the mineral system (called Waterloos).
“The good assay results returned, including 5.60m at 8.72g/t Au from 201.1m (NSD050) and 10.05m at 3.88g/t Au from 247.85m (NSD049) are bellwethers for further refined targeting at Wildwood.
“Other simiar embayment-type structures are likely. In addition, the east limb of the Wildwood basalt also has potential to be mineralized, based on the recent mining successes at Stawell.”
For further information please visit: https://northstawellminerals.com/
