Exploration Risks Loom as North Stawell Pursues Shallow Gold at Historic Prospects

Exploration Momentum Builds

North Stawell Minerals (ASX:NSM) has commenced a significant air core drilling campaign at its Caledonia and Darlington projects in Victoria, Australia. The 2,000 to 2,500 metre program is designed to follow up on high-grade gold mineralisation identified in previous diamond drilling and surface geochemical surveys. The company has engaged AMWD, a local drilling contractor with experience in the Stawell Zone, to execute the program.

Targeting High-Grade Gold Zones

The Darlington prospect has been a focal point after earlier drill holes revealed shallow, high-grade gold intercepts, including a standout 2.3 metres grading 29.3 grams per tonne gold from 108.2 metres depth. This intercept notably contained a narrower 0.8 metre section with visible gold grading an exceptional 82 grams per tonne. These results echo the style of mineralisation found in the historic Mariners Lodes, located just 6 kilometres south at the Stawell Mine, which produced nearly one million ounces of gold at grades around 28-30 g/t.

Caledonia, situated 2 kilometres north of Darlington, presents a similar geological setting but is obscured by a thin cover of unmineralised sediments. Previous surface sampling has highlighted anomalous gold consistent with the broader mineralised trend linking the two prospects. The current drilling aims to test these targets more thoroughly and expand the known mineralised footprint along the 3.6 kilometre Darlington-Caledonia corridor.

Strategic Significance and Next Steps

Bill Reid, Executive Director of North Stawell Minerals, emphasised the strategic importance of these targets, noting the geological parallels to the Mariners Mines and the potential for near-surface mineralisation. The program’s results, expected in April 2026, will be closely watched by investors and analysts eager to see if the company can replicate or extend the high-grade zones previously encountered.

The North Stawell Project covers a substantial 445 square kilometre area immediately north of the Stawell Gold Mines operation, a prolific gold-producing region. The presence of basalt formations, which historically control gold mineralisation in the area, adds further geological confidence to the exploration strategy.

While the exploration potential remains conceptual and no mineral resource has yet been defined, the combination of historical data, recent drilling success, and ongoing geochemical anomalies provides a compelling narrative for North Stawell Minerals as it advances its exploration agenda in 2026.