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North Stawell Minerals (ASX:NSM) - CEO, Steven Tambanis
CEO, Steven Tambanis
Source: North Stawell Minerals
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  • Gold explorer North Stawell Minerals (NSM) has received the initial batch of gold assay results from its Wildwood Prospect in Victoria
  • A 10,000-metre drilling program is in progress to test for additional mineralisation outside of the historical mineralisation
  • North Stawell has received results from the lower portion of hole RC007 with grades peaking at 16.65g/t gold
  • Results are pending for the upper portion of the hole which will be reported on once samples return from the laboratory
  • Throughout the quarter, North Stawell will test the western side of the Wildwood basalt dome where little historical drilling has been carried out
  • North Stawell is up 8.89 per cent on the market and shares are trading at 49 cents

Gold explorer North Stawell Minerals (NSM) has received the initial batch of gold assay results from its Wildwood Prospect in Victoria.

A 10,000-metre drilling program is in progress to test for additional mineralisation outside of the historical mineralisation.

Wildwood has been periodically explored and drilled over the past 35 years, resulting in a JORC-compliant inferred mineral resource of 55,000 ounces at 2.0g/t gold.

North Stawell has received partial results from hole RC007 which returned highly encouraging results from the lower 10 metres.

Best results include 10 metres at 3.51g/t gold from 30 metres, including one metre at 16.65g/t gold from 30 metres within a broader interval of four metres at 6.88g/t gold from 30 metres.

Results are still pending for the upper portion of the hole, which will be reported on once samples return from the laboratory.

“RC007 delivered highly encouraging gold assays from a 10-metre interval from 30 to 40 metres downhole with the hole finishing in gold mineralisation. We look forward to reporting the rest of the assay results from RC007 as they are returned from the laboratory,” CEO Steven Tambanis commented.

“Additional drill lines are being planned for this shallow portion of the basalt dome and we note that there are significant areas of the Wildwood basalt that are as yet to be drilled,” he added.

Throughout the quarter, North Stawell will test the western side of the Wildwood basalt dome, where little historical drilling has been carried out.

North Stawell is up 8.89 per cent on the market and shares are trading at 49 cents at 1:07 pm AEDT.

NSM by the numbers
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