Stavely & Ararat Copper-Gold Projects
Stavely Minerals Limited (Stavely Minerals) (ASX: SVY) is a mineral exploration company formed to acquire early to advanced stage exploration projects with demonstrated high potential for additional discovery.
Stavely Minerals was founded and is operated by members of the former Integra Mining Limited management team with a track record of discovery and value creation.
In January 2013, the Company agreed to purchase the Stavely and Ararat Projects from BCD Resources. The Ararat and Stavely Projects are located approximately 200 kilometres west of Melbourne and are respectively just west of the regional centre of Ararat, Victoria and just east of the regional town of Glenthompson.
On 6th May 2014, Stavely Minerals was admitted to the Official List of the ASX Limited following a successful Initial Public Offering which raised $6.1 million.
In mid- 2015, the Company raised a further $3 million through a share placement and rights issue.
The two flagship projects, Ararat and Stavely, host Inferred Mineral Resources that contain over 130Kt of copper and over 19,000 ounces of gold plus accessory zinc and silver. Stavely Minerals is targeting a Cadia-type gold-copper porphyry (Stavely Project), and a Degrussa-style VMS (volcanogenic massive sulphide) deposit (Ararat Project). There are also indications of Stawell-style gold mineralisation at the Ararat Project.
In February 2016, the Company acquired a highly prospective gold-copper exploration project in North Queensland, the Ravenswood West Exploration Permit Application. The project is located near the historical Ravenswood mining centre, which has +4Moz of combined historical and modern gold production. The Ravenswood West application has excellent potential for orogenic and intrusive-related gold mineralisation with four identified porphyry copper-molybdenum-gold prospects. Additionally, early stage rare earths potential has been identified in the project.Read more