First Assays Confirm Copper-Moly-Silver Discovery at the Ravenswood Project in North Queensland

January 10, 2017

Drill testing at The Bank prospect yields strong results including 6m at 1.31% copper, 120ppm molybdenum
and 12.4 g/t silver

Highlights

  • Strong initial assays received from the first two holes drilled at The Bank breccia prospect within the Ravenswood Project in North Queensland
  • The assays indicate the presence of a very large mineralised hydrothermal system
  • Particularly strong copper-moly-silver sulphide mineralisation was intercepted at shallow depth in drill hole SRD002 with a broad interval of:

™  22.8m at 0.6% copper,

   including higher grade intervals of:

   12.4m at 0.95% copper, 120ppm molybdenum and 8.0g/t silver, including
   6.05m at 1.31% copper, 100ppm molybdenum and 12.4g/t silver

  • Vein-hosted and breccia-hosted mineralisation has been intersected in all five drill holes completed to date; assays pending for the remaining holes
  • Potential for well mineralised copper-moly-silver porphyry at depth
  • Stavely is proceeding with drill-testing three other significant discovery opportunities with drilling of the Toora West porphyry target in western Victoria in progress.

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