North Stawell Minerals Identifies Two Targets at Caledonia Prospect

en.Wedoany.com Reported - North Stawell Minerals (ASX:NSM) has identified two potential targets at the Caledonia prospect within its "North Stawell" project in Victoria, Australia.

A multi-element surface geochemical program comprising 412 samples has defined two mineralized zones. One is an extension of known mineralization, offset by a fault and trending northwest along a deeper basalt margin; the other is a north-trending potential target defined by a strong arsenic anomaly.

The company has identified a bismuth anomaly spanning approximately 400 meters that has not yet been drill-tested. It noted that tungsten-bismuth is sometimes associated with gold mineralization, which has been confirmed at the Darlington West prospect.

Caledonia is a drill-tested structure with a strike extent exceeding 600 meters, with assay results showing gold grades above 1 g/t and localized high-grade intervals.

North Stawell Minerals has ranked the Caledonia prospect as a priority target within the 3.6-kilometer-long Darlington-Caledonia trend, which is the company's primary exploration focus for 2026.

Executive Director Bill Reid described Caledonia as a "highly attractive target" within the company's exploration priorities.

"Previous work has identified high-grade gold mineralization (up to 12 g/t) in sedimentary dikes above the deeper basalt, similar to the historic Mariners' Reef deposit mined at Stawell (8 km to the south), which produced approximately 1 million ounces of gold at 28 g/t," Reid said.

"Caledonia is covered by very thin overburden, preserving significant potential for shallow gold mineralization. The mineralized body has a drill-tested strike length of over 600 meters and remains open along strike and down-dip."

"The geochemical program has identified potential extensions of the mineralization, providing a basis for follow-up work aimed at expanding the scale of Caledonia and improving understanding of the gold potential of the Darlington-Caledonia trend, which has repeatedly demonstrated the potential for high-grade gold mineralization."

North Stawell Minerals is an Australian gold exploration company committed to creating value for shareholders through systematic search and evaluation of promising gold exploration and development projects.