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North Stawell Minerals is newly listed on the ASX – September 24, 2020. The company raised A$20m to systematically explore 550km2 of the highly prospective Stawell Mineralised corridor immediately to the north of the producing Stawell Gold Mine (SGM) which has delivered over 5m oz of gold since 1860.
The company is evaluating 43 gold targets within its tenure holdings, including 17 basalt domes geologically similar to that of SGM’s Magdala basalt dome. Some of these basalt domes are known to host gold mineralisation and the Wildwood dome hosts a 55,000 oz JORC Inferred Mineral Resource Estimate.
A 10,000m drill programme is expected to commence at Wildwood during the current quarter with exploration targets at Glenorchy and Wal Wal being evaluated for drilling. Geophysical and geochemical programmes are being prepared over the company’s northern tenure with an initial 75,000m of drilling planned over the next two years.