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North Stawell Minerals - Quarterly Activities Report


Highlights:

-- Results from regional air core drilling highlight two areas that required continued follow-up drilling to expand initial significant results – setting exciting targets for upcoming drill programs.
-- Selected results include:
1m at 4.31 g/t Au from 0m (NSAC0410)
3m at 1.61 g/t Au from 75m (NSAC0442)
1m at 1.65 g/t Au from 98m (NSAC0410)
1m at 1.36 g/t Au from 107m (NSAC0410)
1m at 1.03 g/t Au from 29m (NSAC0429)
0.85m at 5.65 g/t Au from 201.2 (DAD001)
-- 87 anomalous intercepts were returned from 43 air core holes at 2 prospects, validating the exploration strategy targeting geophysical structures under cover that are possible repeats of the multi-million ounce Stawell mineralisation.
-- Phase 2 infill AC drilling at Caledonia has identified significant grade following up on broad low-grade anomalism: 1m at 1.65 g/t Au from 98m (NSAC0410) and 3m at 1.61 g/t Au from 75m (NSAC0442).The drilling demonstrates 250m strike length, open to the north, south and at depth.
-- Assaying previously unsampled drillcore at Darlington returned 0.85m at 5.65 g/t Au from 201.2m (DAD001), confirming 150m vertical extent to the 700m confirmed strike length, and highlighting the possibility of a highergrade plunging shoot for further drill targeting.
-- The Lubeck Tip remains a priority target. No rain and cropped paddocks give access in early 2023. The mobilization of a Mantis200 rig (Jan 23) will improve drilling outcomes substantially.

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