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- North Stawell Minerals (NSM) begins a regional aircore drilling program at its Radio Prospect in New South Wales
- A total of 2380 metres of drilling is planned to target the hinge and flanks of the structure to the north and south
- This aircore drilling will aim to identify gold or associated pathfinder elements and establish the presence of mineralisation and refine targets
- To date, 610 metres have been drilled with samples sent for analysis
- North Stawell ends the day in the grey with shares trading at 28 cents
North Stawell Minerals (NSM) has begun a regional aircore drilling program at its Radio prospect in New South Wales.
The Radio Prospect is a new, untested target, interpreted as a sediment-covered dome structure.
While no previous drilling has been completed, passive seismic surveys indicate a major reflector at roughly 50 metres.
A total of 2380 metres of drilling is planned across five lines to target the hinge and flanks of the dome structure to the north and south.
The aircore drilling will aim to identify gold or associated pathfinder elements and establish the presence of mineralisation and refine targets.
To date, eight holes, for 610 metres, have been drilled with samples sent for analysis.
North Stawell will update the market as ground activities gain momentum.
Additionally, planning for further aircore drilling programs is complete and will be undertaken when the weather improves.
Chief Executive Russell Krause commented on the drilling program.
“NSM continues to advance regional exploration throughout its highly prospective tenement portfolio, kicking off its 2021/2022 drilling program,” Mr Krause commented.
“Starting at Radio has allowed NSM to bring planning forward to ensure rig access. Wallis Drilling has small 4WD-mounted rigs and substantial experience drilling through the Murray Basin, an ideal partner for this program.”
“Success in the current aircore and geochemistry programs will assist in focussing plans for follow up reverse circulation (RC) drilling, augmenting already established targets in Q2 FY22.”
North Stawell has ended the day in the grey with shares trading at 28 cents in a $33.63 million market cap.
