Victorian gold explorer North Stawell Minerals Ltd (ASX:NSM) has intersected further high-grade gold intervals with its current drilling campaign at the Wildwood Prospect.
The company’s latest RC drilling assays returned two high grade intercepts with drilling underway at an untested basalt dome target north of Wildwood and the CGG Falcon gravity gradiometer survey has commenced.
Recent success included Hole RC052 which delivered 12m@ 9.48g/t Au from 34m downhole and Hole RC051 which intersected 5m@ 7.5g/t Au from 15m downhole.
CEO, Steven Tambanis, said current drilling at Clontarf is returning good visual intervals of mineralisation, more so than observed at southern Wildwood.
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,” Mr Tambanis said.
“Current drilling at Clontarf (northern Wildwood) is delivering significant visual intervals of mineralisation, more so than observed at southern Wildwood.
“The purpose of the Wildwood programme 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. Learnings from this programme will assist NSM exploring the other basalt dome targets in our tenure.
“Our first exploratory drill hole is underway to the north of Wildwood to test the first of 16 additional basalt dome targets on our tenure – an exciting first step into our regional drill programme. CGG has commenced flying its aero gravimetric survey over our tenure, which will deliver detailed gravity data to enhance ongoing drill targeting.
“We regard the Stawell Mineralised Corridor to be one of Australia’s most prospective and historic gold provinces and have a target rich environment to explore over the next two years with an experienced and enthusiastic team.
“Many prospects are already demonstrated to be gold mineralised and we look forward to commencing regional target exploration once the bulk of our first Wildwood drilling is completed. Geochemical and geophysical programmes have commenced.”
The Wildwood Basalt dome has been intermittently explored and drilled over the past 35 years by WMC Resources and its successors – owners of Stawell Gold Mines. An initial JORC compliant inferred mineral resource estimate of 55kOz @ 2.0g/t Au has been developed from historic drilling to 2012 and NSM sees potential to materially increase the resource base by drilling down-dip, along-strike and down-plunge of known mineralisation.
The initial 10,000m drill programme at Wildwood is designed to test for additional mineralisation outside of historical mineralised envelopes.
Surface geochemical sampling is underway over Wildwood with this programme then being extended to cover EL6156 and EL5443. The Falcon aero gravity survey commenced this week. The new datasets from this work are expected to enhance targeting and drill prioritisation of interpreted basalt domes within the tenement package.
