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North Stawell Minerals - AC drilling identifies large gold anomaly at Lubeck Tip


AC drilling returns multiple thick anomalous grades on multiple lines to match encouraging geology and structure and the Stawell mineralisation model. 

Highlights:

  • Aircore drilling into the virgin Lubeck Tip target returned multiple anomalous gold results in 13 of 23 holes along the 1,500m target. Coincident arsenic anomalism amplifies the prospectivity.
  • Gold mineralisation returned in drilling includes several thick intercepts of anomalous grades, and remains open along strike to the north and south, and is not constrained to the west which makes Lubeck Tip a compelling target for further drilling with increased potential for a significant gold system
  • The Lubeck Tip target includes multiple similarities to Stawell-type gold prospects, including overlapping magnetic and gravity anomalies, a key vector to mineralisation
  • The Lubeck Tip program is the 6th target with returned results in NSM’s regional aircore program. Following the first pass drilling, most encouraging areas will be returned to for infill drilling.
  • RC drilling continues in the southern tenements testing several known gold trends to the north and west of the Stawell Mine, principally at the Darlington trend of historic mines, the historic Germania field at the margin of the Murray Basin,
  • NSM is fully funded to execute its exploration activities with $10.0m cash at December 30, 2021.
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