NSM Reports 87,300 oz Gold Resource at Wildwood and High-Grade Drilling at Darlington

Exploration Momentum in Victoria’s Gold Corridor

North Stawell Minerals Ltd (ASX – NSM) has provided a comprehensive update on its North Stawell Gold Project in Victoria, Australia, underscoring significant progress in exploration activities. The company’s focus remains on shallow, high-grade gold mineralisation models inspired by the nearby Stawell Gold Mine, a historically prolific operation with over 5 million ounces of gold produced.

The Wildwood Mineral Resource, a key asset within NSM’s portfolio, now stands at 87,300 ounces of gold, with a notable 51% classified as Indicated Resource. This resource remains open at depth and along strike, suggesting further upside potential. NSM’s recent drilling campaigns at Darlington and Darlington West have intersected encouraging gold grades, including visible gold, which bolsters the prospect of transformative discoveries within the project area.

Geological Models and Targeting Strategy

NSM’s exploration strategy leverages extensive historic drilling and geophysical datasets, including magnetics and gravity surveys, to identify and rank targets beneath a thin blanket of unmineralised sediments that mask prospective geology. The company’s 504 km² tenement package covers a 60 km strike of the Stawell Mineralised Corridor, immediately north of the operating Stawell Gold Mine.

Two principal mineralisation models guide NSM’s targeting – the “Stawell-type” mineralisation associated with basalt margins and the “Mariners-type” splay mineralisation occurring as faulted splays above deeper basalts. Recent drill results at Darlington have revealed high-grade intercepts consistent with these models, including a standout 2.3 meters at 29.2 g/t gold, accompanied by visible gold in quartz veins.

Project Pipeline and Upcoming Programs

NSM’s project pipeline is robust, featuring multiple high-priority and secondary targets such as Darlington, Wildwood, Caledonia, and Lubeck Tip. The company plans follow-up exploration activities including induced polarization geophysical surveys, air core drilling to test soil anomalies, and diamond drilling to extend and upgrade mineral resources.

Importantly, the proximity of NSM’s projects to the Stawell Gold Mine’s processing mill; within 25 to 50 kilometers; provides a strategic advantage for a potentially short pathway to production. The company’s experienced management team, with deep Victorian exploration and mining expertise, is well positioned to execute these programs efficiently.

Financial and Strategic Position

With $2.1 million in cash and no debt, NSM maintains a solid financial footing to advance its exploration agenda. The company’s single-commodity, single-jurisdiction focus on gold in a proven mineralised corridor aligns well with current market preferences for high-grade, low-risk gold projects.

NSM’s leadership, including Chairman Jerry Ellis and CEO Campbell Olsen, brings a wealth of operational and capital markets experience, reinforcing investor confidence. The company’s transparent reporting and adherence to JORC standards further underpin its credibility.