North Stawell Minerals (ASX:NSM) Hits Visible Gold at Darlington Prospect, Shares Surge

Key Highlights

• Visible Gold Discovery: NSM’s latest drilling at the Darlington Prospect intersected visible gold at 107.5m–110m downhole.
• Market Response: NSM shares jumped 6.25% following the announcement.
• Exploration Upside: The find is outside the planned target area, opening new potential for gold mineralization.
• Next Steps: Full assay results expected in April 2025.

North Stawell Minerals (ASX:NSM) has uncovered a promising new gold intercept at its Darlington Project in the Stawell Gold Corridor, Victoria. The discovery, made in hole NSD057, identified visible gold (VG) within a previously untested siliceous stock-worked fault breccia zone, extending the potential strike of mineralization. The news has sparked interest among investors, driving NSM’s stock price up by 6.25%.

A Significant Gold Hit Outside the Target Zone

The newly reported intersection, located at a depth of 107.5m–110m downhole (84m below surface), was not part of the initially planned target. Instead, it lies 70m west of the known Darlington mineralized trend, raising the possibility of a parallel or offset gold-bearing structure. The latest drilling sits 200m southeast of the historic Darlington Mine shaft, with a trend that remains open for 850m along strike to the south.

Executive Director Campbell Olsen commented:

"Hitting visible gold in a completely unexpected position is an exciting development. The mineralization bears similarities to historic mine spoils, and while we await assay results, this intercept significantly enhances the geological potential of Darlington."

Technical Insights

Preliminary geological logging indicates that the mineralization is hosted in a multi-phase, siliceous, fault breccia sediment, with visible gold occurring as 1-3mm disseminated blebs within quartz. The presence of arsenopyrite and pyrite further suggests the potential for Stawell-type orogenic gold mineralization.

NSM's Drilling Progress and Future Plans

NSM's drilling at Darlington is part of a broader strategy to uncover large-scale gold deposits in the 600km² Stawell Gold Corridor, which has already produced over 5Moz of gold.

• The company has two priority exploration targets—Wildwood and Darlington—both considered highly prospective.
• Assay results for hole NSD057 are expected in April 2025.
• Additional drilling is underway to follow up on the new mineralization zone and test for continuity along strike.

Market Reaction and NSM’s Strong Performance

Following the announcement, NSM’s stock climbed 6.25% to $0.034, reflecting growing investor confidence in the company’s exploration potential. The company has delivered a +112.5% return YTD, significantly outperforming the ASX 200 over the past year.

NSM Performance Metrics

The discovery at Darlington signals potential for a new, previously unknown gold system, a critical factor for junior explorers like NSM. With assays pending, an open strike length, and high-grade geological signatures, investors should keep an eye on upcoming results. If further drilling confirms significant grades, NSM could be on the verge of unlocking major upside in the Stawell Gold Corridor.

Investors looking for high-growth potential in gold exploration may find NSM’s recent developments an attractive opportunity, particularly with gold prices remaining strong and exploration momentum building. April’s assay results will be a major catalyst to watch.