The Stawell Corrider is set to be the focus of North Stawell Minerals in the warmer months, with the company preparing to begin first pass reconnaissance drilling.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The company is intending to begin drilling in the highly prospective Stawell Corridor to test high priority gold targets.
The drill rig is scheduled to mobilise in late September to take advantage of the 'weather window' at Stawell which runs until early April 2022.
North Stawell Minerals interim chief executive Russell Krause said the company was ready to take its next steps.
"North Stawell Minerals continues to advance regional exploration throughout its highly prospective tenement portfolio," he said.
"With improving weather and access, exploration has moved to its 'next steps' fieldwork to demonstrate the exploration potential of multiple targets.
READ MORE:
"North Stawell Minerals regards the northern Stawell Mineralised Corridor, in which the company now has a commanding ground position, to be one of Australia's most prospective and historic gold provinces and present a target rich environment.
"Many prospects are already demonstrated to be gold mineralised and we are excited to include the new tenement in the regional exploration programs."
Speaking in more depth, Mr Krause said the Stawell Corridor is an area that presents a "clear opportunity".
"Surprisingly little campaign and multi-element geochemistry has been completed, presenting a clear opportunity to extend these vital regional datasets based on geophysics, structural interpretation and historic work and identify areas with geochemical vectors indicating shallow gold mineralisation potential.
"In the northern tenements, the cover becomes too thick for surface geochemistry, and Aircore drilling is planned.
OTHER NEWS:
"The same blanket of Murray Basin sediments inhibiting geochemistry also preserves potential for Stawell-like mineralisation."
Following the recent coollection of data, the preparation work to commence highly-targeted drilling is effectively complete.
Over 2021 North Stawell Minerals has consolidated and digitised 40 years' of historic data and re-interpreted the geology, geophysics and architecture of the northern Stawell Zone.
The company expects the upcoming drilling programs will deliver regional, cost effective assessment of the area's potential.
North Stawell Minerals said in a release to shareholders, it is fully funded to execute its exploration activities with $11.8 million cash at June 30, 2021.
If you can see this message, you are a loyal digital subscriber to The Stawell Times-News, as we made this story available only to subscribers. Thank you very much for your support and for allowing us to continue telling Stawell's story. We appreciate your support of journalism in our great town.