- Victorian gold explorer North Stawell Minerals (NSM) has intersected up to 46.9g/t gold from the Wildwood Prospect in Victoria
- Up to 10,000 metres of drilling will be undertaken to test for mineralisation outside of the historical mineralised envelope
- North Stawell has also revealed an aero gravity survey has begun to generate a new and detailed gravity map
- As work progresses, the company will continue developing and updating the historical database
- North Stawell is up 16.2 per cent and shares are trading at 43 cents
Victorian gold explorer North Stawell Minerals (NSM) has intersected up to 46.9g/t gold from the Wildwood Prospect in Victoria.
Up to 10,000 metres of drilling will be undertaken to test for mineralisation outside of the historical mineralised envelope.
The project area has been irregularly explored over the past 35 years by previous owners.
A JORC 2012 inferred mineral of 55,000 ounces at 2.0g/t gold was developed from historical drilling and North Stawell believes it can substantially increase it.
Best results include 12 metres at 9.49g/t gold from 34 metres, including one metre at 46.9g/t gold and five metres at 7.5g/t gold from 15 metres, including one metre at 16.25g/t gold.
All results are yet to be received but will be released and reported on next month.
“The purpose of the Wildwood program is to more accurately define the basalt dome geometry and identify gold mineralisation on the flanks and top of dome with the intention of increasing the current gold resource inventory,” CEO Steven Tambanis said.
“The high-grade gold intervals from Wildwood are highly encouraging and we look forward to receiving diamond core assays over the next month to update the 3D Wildwood model,” he added.
North Stawell has also revealed an aero gravity survey has begun to generate a new and detailed gravity map.
As work progresses, the company will continue developing and updating the historical database.
North Stawell is up 16.2 per cent and shares are trading at 43 cents at 3:49 pm AEST.