North Stawell Minerals (ASX – NSM) advances drilling at its North Stawell Gold Project, revealing promising high-grade gold intercepts and a robust exploration pipeline near the historic Stawell mine.
- High-grade gold intercepts at Darlington including visible gold
- Wildwood Mineral Resource upgraded with increased ounces and grade
- Extensive historic and geophysical data underpin exploration strategy
- Robust project pipeline with multiple targets along 60km Stawell corridor
- Well-funded with $2.1 million cash and strong Victorian mining expertise
Exploration Momentum Builds at North Stawell
North Stawell Minerals Ltd (ASX, NSM) has provided a comprehensive update on its North Stawell Gold Project in Victoria, Australia, spotlighting recent drilling successes and a strategic exploration approach focused on shallow, high-grade gold mineralisation. Situated within the prolific Stawell Mineralised Corridor, the project benefits from proximity to the operating Stawell Gold Mine, which boasts historic production exceeding 5 million ounces of gold.
The company’s current drilling campaign at the Darlington target has yielded encouraging results, including a standout intercept of 2.3 metres grading 28.2 grams per tonne gold, featuring a high-grade 0.8 metre section at 82 grams per tonne. Visible gold observed in drill core further underscores the potential for a significant mineralised system. These intercepts align with NSM’s dual exploration models, the "Stawell-type" basalt-hosted mineralisation and the "Mariners-type" high-grade splays, both known from the region’s rich mining history.
Leveraging Data and Geophysics for Targeting
NSM’s exploration strategy is underpinned by an extensive database comprising over 220,000 metres of historic drilling, high-resolution magnetics, gravity surveys, and advanced numerical modelling. This integrated approach enables the identification of concealed targets beneath a thin blanket of unmineralised sediments that mask much of the gold potential along the 60-kilometre strike of the Stawell corridor.
Recent drilling at Darlington West has intersected mineralisation on the margins of a previously undrilled basalt unit, validating geophysical and modelling predictions. The basalt margin mineralisation, open over 900 metres, suggests the possibility of a repeat of the Stawell-type gold system, a compelling prospect given the historic success of the nearby Stawell mine.
Resource Growth and Project Pipeline
The Wildwood Mineral Resource, located within trucking distance of the Stawell mill, was updated in June 2023 to 87,300 ounces of gold at an improved grade of 2.4 grams per tonne, with over half classified as Indicated Resources. The resource remains open at depth and along strike, offering potential for expansion.
Beyond Darlington and Wildwood, NSM maintains a robust pipeline of exploration targets including Lubeck Tip, Caledonia, and Forsaken. These projects benefit from the company’s proven ability to apply a model-driven exploration framework, supported by a highly experienced Victorian-based management team with deep knowledge of local geology, regulation, and community engagement.
Positioned for Growth in a Grade-Focused Market
With approximately $2.1 million in cash and no debt, NSM is well positioned to execute its exploration programs, which include follow-up drilling, geochemical surveys, and geophysical testing such as induced polarization surveys. The company’s focus on shallow, high-grade targets aligns with current market preferences where grade is a critical value driver.
NSM’s single-commodity, single-jurisdiction strategy simplifies investor understanding and underscores its commitment to unlocking value in one of Australia’s most prospective gold regions. The proximity to a “friendly” processing mill at Stawell further enhances the project’s development potential, offering a relatively short pathway to production should exploration success continue.
Bottom Line?
NSM’s ongoing drilling and model-driven exploration in Victoria’s Stawell corridor could soon redefine its resource base and unlock significant shareholder value.
Questions in the middle?
- Will upcoming drilling confirm the extent and continuity of high-grade mineralisation at Darlington?
- Can NSM expand the Wildwood resource to a scale that supports near-term development?
- How will NSM’s exploration results influence potential partnerships or third-party interest?