A twenty-four hole air core drilling program into a priority geophysics target has consistently intersected broad, low-grade anomalous gold zones over 1,200m strike on the prospective margin of an interpreted, deeper basalt under cover at Challenger – an analogy for the geology that controls the multi million -ounce gold mineralisation at Stawell.
Highlights:
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Only the northern 3km of the 7.5km Challenger target has been drill tested and anomalous gold has been returned on every northern drill fence (10 fences over 3km).
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Three more gravity-defined, untested priority basalt targets are identified to the south.
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In the most recent drilling (2023 program) at Challenger:
o 22 of 24 (91%) air core holes intersect anomalous gold mineralisation.
o 7 of 24 (29%) air core holes end in anomalous gold grades.
o Two target trends have been expanded to 1,200m and 400m and are open.
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Anomalous air core gold results include:
• 18m @ 0.16 g/t Au from 60m (NSAC0509) ^
• 15m @ 0.16 g/t Au from 84m (NSAC0508) ^
• 23m @ 0.09 g/t Au from 88m (NSAC0505) *^
• 15m @ 0.13 g/t Au from 87m (NSAC0515) *^
• 15m @ 0.12 g/t Au from 73m (NSAC0517) ^
• 3m @ 0.57 g/t Au from 110m (NSAC0518) *^
• 10m @ 0.17 g/t Au from 82m (NSAC0522) *^
*ends in mineralisation ^previously reported (ASX:NSM 28 Apr 23)
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Past air core drilling programs have demonstrated that multiple broad anomalous gold intercepts, or multiple end-of-hole anomalous gold intercepts indicate proximal, significant bedrock mineralisation.
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The results are interpreted as the equivalent of the upper reaches of the ore system mined and studied at the Stawell Gold Mine.
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