North Stawell Minerals (ASX:NSM) - Non Executive Chairman, Jerry Ellis
Non Executive Chairman, Jerry Ellis
Source: North Stawell Minerals
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  • North Stawell Minerals’ (NSM) recent aircore drilling program has extended the Gellatlys gold trend to 3.5 kilometres
  • The aircore drilling has extended the mineralisation a further 1.6 kilometres south with a further 4.5 kilometres of strike remaining undrilled
  • Drilling has been completed at the Gellatlys prospect with 33 holes drilled and grades peaking at 0.14g/t gold
  • The aircore rig will continue testing priority targets identified that have the potential to host multi-million-ounce Stawell-type gold mineralisation
  • North Stawell ends the day 5.36 per cent in the green with shares trading at 29.5 cents

North Stawell Minerals’ (NSM) recent aircore drilling program has extended the Gellatlys gold trend to 3.5 kilometres.

The aircore drilling has extended the mineralisation a further 1.6 kilometres south with a further 4.5 kilometres of strike yet to be drilled.

Drilling was undertaken to explore for mineralisation similar to the nearby multi-million ounce Stawell mine.

Drilling has been completed at the Gellatlys prospect with 33 holes, for 2398 metres, drilled. Best results include 13 metres at 0.14 grams of gold per tonne (g/t) from 78 metres and 12 metres at 0.11g/t gold from 62 metres.

The aircore rig will continue testing priority targets identified via historical work, geophysical interpretations or structural interpretations that have the potential to host multi-million-ounce Stawell-type gold mineralisation.

The aircore rig will complete a first pass test on 20 targets and either confirm or dismiss the gold potential for near-surface gold mineralisation under cover.

“NSM’s second aircore drilling program at Gellatlys has returned more encouraging results that continue to validate the company’s exploration strategy through cover,” Interim Chief Executive Russell Krause commented.

“Drillholes with broad gold intercepts that end in mineralised rock are exciting indicators that the drillhole may have clipped a larger, proximal mineralisation system.”

“Seeing a correlation between the geophysics interpretation used for targeting and the drill results adds further encouragement.”

North Stawell has ended the day 5.36 per cent in the green with shares trading at 29.5 cents in a $33.63 million market cap.

NSM by the numbers
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