Phase 1 Aircore drilling identifies highly anomalous grades in a previously untested area drawing structural and geological similarities to Stawell ‘type’ and Wonga ‘type’ gold deposits.
Highlights:
-- Phase 1 aircore drilling has again successfully identified new mineralisation using geophysics to explore through Murray Basin cover.
-- A 300m wide gold-arsenic anomalous zone occurs on the margin of a granite and extends into surrounding metasediments.
-- The Wimmera Park prospect has similarities to the historic Wonga Deposit in Stawell. These include its geology and structural setting, regional architecture and alteration style, and an apparent relationship to the proximal granite.
-- The Wimmera Park target remains open between drilling lines (800m), along the granite contact and for 2,000m to the south along a magnetic anomaly, and is a compelling target for infill drilling during the next drill season.
-- The strong correlation between gold and arsenic is encouraging for effectively vectoring to significant mineralisation at Wimmera Park.
-- RC drilling has concluded in the southern tenements with assays pending and likely to be released in the current quarter.
-- NSM is fully funded to execute its exploration activities with $6.7M
Victorian gold explorer North Stawell Minerals Ltd (ASX:NSM) (North Stawell or the Company) is pleased to provide an update on its exploration programs. The aircore rig has continued the regional, first pass drill program, targeting mineralisation beneath shallow cover that has potential to host structural repeats of the multi-million ounce gold deposit at Stawell.
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