North Stawell Minerals is on the front foot as it commences the exploration of a newly awarded tenement that stretches from Wal Wal to just south of the Stawell township.
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The state government recently granted North Stawell Minerals an Exploration Licence (EL) 7324 for an area known as the Deep Lead tenement.
The 167 km2 prospect features a mix of old workings, some previously explored areas, and ground that has never been tested for gold.
North Stawell Minerals chief executive officer Russell Krause said the goal of the exploration was to find a viable gold deposit that might be the next chapter in the long mining history of Stawell.
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As part of the explorations, he described a highly prospective 30 kilometre continuation north-west of Stawell Gold Mine's current operations in Stawell as "exciting".
"This stretch has previously been under-tested because the geology is obscured by a blanket of Murray Basin sediments," explained Mr Krause.
"But by using the latest geophysical technology, combined with historic drilling results, we're already well-advanced in compiling its best geological profile to date.
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"We look forward to updating the local community and our global shareholders on the success of low-impact exploration activities in this new prospect, as well as our other leases between Stawell and Murtoa."
Mr Krause said the North Stawell Minerals team had started soil sampling on roadsides throughout the Deep Lead tenement, which would help inform a highly targeted schedule of air-core drilling.
For further information please contact the NSM Community Engagement Team on 0477 011 277.
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