North Stawell Minerals (ASX:NSM) has doubled the extent of the Caledonia Prospect gold trend in Victoria with significant intercepts returned on all sections drill tested.
The trend remains open for an additional 600m to the north, 350m to the south, and at depth along the prospective Darlington – Germania structural trend, which is 10km long and includes four historic mines and three high-potential prospects.
Highlights:
- Air core drilling successfully defines a 620m gold trend – open on strike and at depth – with significant (>1g/t) intercepts on all sections drill tested at Caledonia.
- Results include 6m at 1.40g/t from 63m, 3m at 1.22g/t from 48m and 3.0m at 1.32g/t from 66m.
- Previously reported drilling results from Caledonia include 1.0m at 12.15g/t from 36m.
- Historic mining 570m south has produced at grades over 15g/t gold and previously reported intercepts at Caledonia demonstrate higher grades occur in the system.
- Caledonia is NSM’s first (and successfully) completed Phase 2 air core programme – angled, shallow drilling to efficiently establish strike, dip and extents of mineralisation.
The return of the final results for the most recent air core drilling at the Caledonia completes the picture on a very positive Prospect,” Chief Executive Russell Krause said.
“The results on three lines, to the south of previously reported results continue to intersect significant (1.0 g/t Au+) gold grades extending strike from 250 to 620m – confirming an exciting exploration target with substantial potential.
“Historic mining 570m south has produced at grades over 15g/t Au and previously reported intecepts at Caledonia demonstrate higher grades occur in the system, increasing potential for higher grade shoots within at Caledonia.
“The regional trend, the Darlington-Germania trend, is 10km long and includes four historic mines and three high-potential prospects – Darlington, Caledonia and Wimmera Park. Confirming Caladonia’s gold potential with additional drilling is an exciting proof of the NSM exploration strategy.
“The results at Caledonia (and their positive impact of the dimesions of the Prospect) are an important addition to NSM’s maturing mineralisation pipeline.
“Caledonia joins several other prospects with proven significant (1g/t Au+) gold intercepts – Darlington, Lubeck Tip, Foresaken and Challenger – and adds optionality for future work as well as emphatically demonstrating the exploration strategy and targeting methodology is effective and efficient.
“The Prospects, in conjunction with the 55koz Inferred Mineral Resource at Wildwood, present a substantially more robust exploration pipeline with multiple, compelling Stawell-like targets consolidated in the last six months.
“A deep pipeline of additional generative and early stage exploration targets (NSM Phase 1 reconnaissance drilling targets) highlight the enormous exploration potential of the Stawell Zone under a thin blanket of Murray Basin cover.”
