NSM - North Stawell Minerals

[System]

North Stawell Minerals was established for the primary purpose of acquiring, exploring and developing gold exploration tenure immediately north of the Stawell Gold Mine in Victoria, Australia.

The Company is exploring prospective tenements located along-strike of and to the immediate north of the Stawell Gold Mine which has produced in excess of five million Ounces of gold. NSM's granted tenure has a total land area of 261.9 km², with a further 291km² under application. Stawell is acknowledged to be a corner point of Victoria's "Golden Triangle", responsible for over 66 million ounces of combined historical gold production.

NSM believes there is potential for the discovery of large gold mineralised systems under cover, using Stawell Gold Mine's Magdala orebody as an exploration model to test 51km of northerly strike extension of the Stawell Mineralised Corridor. Historic exploration to the north has identified a number of prospects with potential to host significant gold mineralisation and the Wildwood Tenement contains an Inferred JORC compliant Mineral Resource Estimate of 55,000 ounces.

It is anticipated that NSM will list on the ASX during September 2020.

https://www.northstawellminerals.com

 

[Dona Ferentes]

landed on the ASX a month ago. Raised $20mill at 50c a share, but bouncing around between 40c and 50c ... now 48c.

"Seventeen basalt domes are part of 43 gold targets within the tenement package, some up to 6km in length. For reference, the Magdala basalt dome, host to the Stawell Gold Mine is 1.5km in length. The opportunity before the Company is large."

§ Drilling the Wildwood Dome is expected to commence in November 2020 with 2 rigs
§ 10,000m programme to target untested down-plunge extensions of known mineralised lodes and an additional westerly lode
§ Wildwood is the first of 17 such domes amongst 43 gold targets on NSM tenements

Our exploration ramp-up is proceeding to plan with numerous pleasant surprises from the historical data review that we believe will positively impact near-term drill target selection. We are updating our electronic database, expanding our exploration team and prioritising our planned drilling programmes. With 75,000 metres of drilling budget in place and commencement of drilling November, we expect to significantly ramp up drilling and exploration activity into the March Quarter next year.

 

[Dona Ferentes]

The AGM has put a positive spin on the prospects. And having the IPO money and multiple targets reivigorated the SP today, up 3c but still below the 50c float

Fully Funded
• Fully funded having raised $20m and expect to drill 75,000m over the next two years

Demonstrated Mineralisation
• Targeting Magdala-style gold ore bodies with multimillion ounce potential
• Exploring 51 strike-km of the 5MOz Stawell Mineralised Corridor, 550km² of highly prospective tenure with a seasoned exploration team
• Guided by 40 years of historic exploration data, over 40 gold prospects identified
• Updating geophysics and geochemistry will generate new gold targets, enhance existing targets by improving targeting resolution

Drill Ready Targets
• Wildwood initial 10,000m drilling programme underway at the main zone
• Next drilling is planned along strike of Wildwood then Wal Wal

 

[Dona Ferentes]

same ol same ol'

.
TO RAISE $1.3M VIA PLACEMENT AND UNDERWRITTEN ENTITLEMENT OFFER TO FUND EXPLORATION PROGRAM
Highlights
$1.3 million equity raising (before costs) comprising:
o placement of shares to raise approximately $0.2 million; and
o fully underwritten 4 for 5 non-renounceable entitlement offer to raise approximately $1.1 million.

- Commitments received for a successful placement raising of approximately $0.2million at an offer price of $0.01 per share.
- Entitlement Offer is fully underwritten.
- Proceeds of the equity raising will be applied to:
o exploration and drilling programmes at Wildwood and Darlington- Caledonia; and
o general working capital and costs of the offer.
- Placement and Entitlement Offer conducted at an offer price of $0.01 per share.