Exploration Risks Loom as North Stawell Drills for Multi-Million Ounce Gold Potential
North Stawell Minerals has launched its 2025 diamond drilling program targeting significant gold mineralisation at the Wildwood and Darlington prospects in Victoria, backed by a recent $1.3 million capital raise.
- Diamond drilling commenced at Wildwood Prospect, Victoria
- Targets focus on Stawell Mine-like gold mineralisation along the Stawell Gold Corridor
- Program includes up to 1,500 metres of drilling across Wildwood and Darlington
- Drilling fully funded following $1.3 million capital raise in 2024
- Wildwood resource currently hosts 87,300 oz Au at 2.4 g/t, open in multiple directions
Drilling Program Underway at Wildwood
North Stawell Minerals (ASX:NSM) has officially commenced its 2025 diamond drilling campaign at the Wildwood Prospect in Victoria, Australia. This program marks a significant step in the company’s exploration efforts along the highly prospective Stawell Gold Corridor, a region renowned for hosting multi-million ounce gold deposits.
The drilling initiative is focused on two priority targets: the Wildwood Prospect and the Darlington Target, both of which exhibit geological and structural characteristics akin to the nearby Stawell Gold Mine. The Stawell Mine itself has a storied history, producing approximately 3 million ounces of gold in modern operations and an additional 2.2 million ounces historically.
Exploration Targets and Geological Context
The Wildwood Prospect drilling aims to test an open, down-plunge target on the eastern flank of the Wildwood basalt dome. This target is particularly promising due to its similarity to the basalt-flank style mineralisation that controls gold deposits at Stawell. Notably, historic drilling at Wildwood intercepted 1.1 metres at 6.8 g/t gold from 262.65 metres, alongside an 8-metre sulphidic alteration sequence indicative of mineralisation potential.
In addition to step-out drilling, the program includes infill drilling at the Maslin Target within Wildwood. This follows up on a previously reported intercept of 5.60 metres at 8.73 g/t gold, aiming to establish down-dip continuity and support future resource updates. The current Mineral Resource Estimate (MRE) at Wildwood stands at 87,300 ounces of gold at 2.4 g/t, with mineralisation open in several directions and located at relatively shallow depths beneath a thin sediment cover.
Meanwhile, the Darlington Target, situated just 5 kilometres from the operating Stawell Gold Mine, is an emerging focus. Drilling here will investigate whether shallow mineralisation is a splay from a deeper basalt unit, mirroring the geological model of the Stawell Mine’s upper ore zones. This could potentially unlock new zones of gold mineralisation in a highly strategic location.
Fully Funded and Strategically Positioned
The 2025 drilling program is fully funded following a $1.3 million capital raise completed in 2024, underscoring investor confidence in North Stawell Minerals’ exploration strategy. The total planned drilling will cover up to 1,500 metres, balancing both resource definition and exploration upside.
North Stawell Minerals’ Executive Director, Campbell Olsen, highlighted the significance of these targets, noting their potential to deliver substantial upside by replicating the geological conditions that have made the Stawell Gold Mine a prolific producer. The company’s tenure covers 504 square kilometres along the Stawell Mineralised Corridor, with over 80% of the area masked by sedimentary cover, presenting both challenges and opportunities for discovery.
Looking Ahead
As drilling progresses, the market will be watching closely for assay results that could confirm the presence of Stawell-type gold mineralisation. Positive outcomes could significantly enhance North Stawell Minerals’ resource base and elevate its profile within the Australian gold exploration sector.
Bottom Line?
North Stawell Minerals’ 2025 drilling program could redefine gold potential along the Stawell Corridor, with results poised to shape the company’s next growth phase.
Questions in the middle?
- Will the drilling confirm continuity and expansion of gold mineralisation at Wildwood and Darlington?
- How might new assay results impact the current Mineral Resource Estimate and valuation?
- What are the timelines for receiving and interpreting drilling results to inform future exploration decisions?