North Stawell Minerals (ASX:NSM) has identified two possible target extensions at the Caledonia prospect within its namesake project in Victoria, Australia.
A multi-element surface geochemistry program comprising 412 samples identified a fault-offset, northwest-trending continuation of known mineralisation along the margin of a deeper basalt, as well as a possible north-trending target defined by strong arsenic anomalism.
The company has identified a bismuth anomaly spanning around 400m, which has not been tested by drilling. The company says tungsten-bismuth is sometimes associated with gold mineralisation, which was uncovered at the Darlington West prospect.
Caledonia is a drill-tested trend extending over 600m, with assays of more than 1 gram per tonne gold and local high grades.
North Stawell has pinpointed the prospect as a priority target within the 3.6km Darlington-Caledonia trend, which is the company’s main exploration focus in 2026.
Executive Director Bill Reid describes Caledonia as a “highly attractive target” for the company’s exploration focus.
“Previous work has identified high-grade gold (up to 12g/t gold) in sediment-hosted veining above a deeper basalt, an analogue to the historic Mariners’ Reef mined at Stawell – 8km to the south – which produced approximately 1 million ounces at 28g/t gold,” Reid says.
“Caledonia is masked by a very thin cover that preserves significant potential for shallow gold mineralisation. The Caledonia mineralisation is drill-tested over 600m strike length and is open along strike and down-dip.
“The geochemistry program identifies possible extensions of mineralisation for future work to expand Caledonia and advance understanding of the gold potential along the Darlington-Caledonia trend which has repeatedly demonstrated potential for high-grade gold mineralisation.”
North Stawell Minerals is an Australian gold exploration company focused on delivering shareholder value through the systematic search and evaluation of prospective gold exploration and development projects in Australia.
Write to Maddison Elliott at Mining.com.au
Images: North Stawell Minerals
