Exploration Risks Loom as NSM Targets Shallow High-Grade Gold Near Stawell Mine
North Stawell Minerals (ASX – NSM) showcased promising high-grade gold intercepts at the Australian Gold Conference, reinforcing its position in Victoria’s prolific Stawell Mineralised Corridor. The company’s exploration pipeline, including the Darlington-Caledonia trend and Wildwood prospect, signals significant upside potential near existing milling infrastructure.
- High-grade gold intercepts confirmed at Darlington and Wildwood prospects
- 87,300 oz gold resource at Wildwood with improved grade and confidence
- 504 km² tenements adjacent to the 5.3 Moz Stawell Gold Mine
- Upcoming drilling and geophysical programs targeting Stawell-type mineralisation
- Strong cash position of $2.1 million and no debt supports exploration
Exploration Momentum Builds in Victoria’s Gold Heartland
North Stawell Minerals Ltd (ASX – NSM) has delivered a compelling update on its North Stawell Gold Project, located in the highly prospective Stawell Mineralised Corridor of Victoria, Australia. Presented at the Australian Gold Conference in Sydney on October 14, 2025, the company highlighted recent drilling successes that reinforce the potential for high-grade gold mineralisation beneath a thin cover of sediments.
The company’s exploration focus centers on the Darlington-Caledonia trend, a 3.6-kilometer corridor north of the operating Stawell Gold Mine, which has historically produced over 5 million ounces of gold. Recent drill results at Darlington include impressive intercepts such as 2.3 meters at 29.2 grams per tonne gold, including a standout 0.8 meters at 82.3 grams per tonne, consistent with the high-grade Mariners-type mineralisation model. These results suggest the presence of a significant gold system that remains open along strike and at depth.
Robust Resource and Strategic Tenure Position
NSM’s Wildwood prospect boasts an updated Mineral Resource of 87,300 ounces of gold at an average grade of 2.4 g/t, with 51% classified as Indicated Resources. This shallow resource lies immediately below cover at depths of 10 to 40 meters and remains open in multiple directions, particularly at depth. The mineralisation style closely mirrors that of the nearby Stawell Gold Mine, enhancing confidence in the project’s potential.
The company holds approximately 504 square kilometers of tenements strategically positioned along strike and immediately north of the Stawell Gold Mine. Approximately 85% of this ground is concealed beneath a thin blanket of unmineralised sediments, presenting a preserved opportunity for discovering new gold deposits using advanced geophysical techniques and targeted drilling.
Focused Programs and Experienced Leadership
NSM is actively advancing its exploration with ongoing diamond drilling at Darlington, following up on high-grade intercepts, and planning induced polarisation geophysical surveys to delineate mineralisation trends. Air core drilling and detailed geochemical sampling aim to refine target areas, with a view to expanding the known mineralised footprint along the Darlington-Caledonia trend.
The company benefits from a seasoned board and management team with deep Victorian mining expertise, including CEO Campbell Olsen and Non-Executive Chairman Jerry Ellis. Their combined experience in exploration, operational management, and capital markets underpins NSM’s strategic approach to unlocking value in this underexplored gold corridor.
Pathway to Production and Market Position
NSM’s projects lie within 50 kilometers of a “friendly” milling facility at Stawell, offering a potentially short and cost-effective pathway to production. With $2.1 million in cash and no debt, the company is well-positioned to fund its aggressive exploration agenda. The current market environment, favouring high-grade gold assets, aligns well with NSM’s focus on discovering and developing premium-grade deposits.
Looking ahead, NSM plans to leverage its extensive historic and recent drilling database, combined with cutting-edge geophysical modelling, to identify and prioritise additional targets. The company’s robust project pipeline and strategic landholding in a proven gold province provide a strong foundation for growth and value creation.
Bottom Line?
With high-grade gold intercepts and a strategic position near established infrastructure, North Stawell Minerals is poised for a transformative exploration phase that could reshape its market standing.
Questions in the middle?
- Will upcoming drilling confirm the extent and continuity of high-grade mineralisation at Darlington and Caledonia?
- Can NSM expand the Wildwood resource significantly by identifying flanking mineralisation at depth?
- How soon might NSM advance towards development decisions given proximity to existing milling facilities?