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North Stawell Minerals - Quarterly Activities Report


* Aircore drilling tested 8 prospects, completing 222 holes (13,854m) of a 20,000m+ regional drilling campaign to assess targets masked by unmineralized Murray Basin cover.
* Results are encouraging – demonstrating that geophysical targeting of the bedrock under cover is identifying and honing-in on mineralised areas with 42 anomalous intercepts returned in aircore
* Aircore drilling has been a highly effective regional precursor to closer spaced follow up drilling to test for the higher grade shoots proximal to the anomalous grades returned to date
* Targeting from new geophysics data has successfully identified new gold mineralisation with Lubeck Tip, Gready, Old Roo and Niewand presenting standout targets for follow-up, close spaced drilling.
* At Glenorchy East, a basalt target was successfully identified with gravity only and then drilled, a key technical success, adding multiple additional exploration targets to the portfolio
* An RC rig, mobilised at the very end of March, will systematically test targets in the southern leases where the Murray Basin Cover is thinner (or absent) and deeper drilling is more appropriate
* Strong cash position; $8.808M (31 Mar. 2022). 

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