New Structural Offset to Thursday’s Gossan Porphyry Target Identified by Multi-Disciplinary Review

May 12, 2015

IP chargeability anomaly at the interpreted new location of the porphyry represents an exciting drill target at the Stavely Porphyry Copper-Gold Project, western Victoria 

Highlights

  • Structural offset of the porphyry target zone in a northerly direction supported by multi-disciplinary evidence including:
    • New 3D structural model and kinematic indicators;
    • Sulphur isotope data indicating proximity of porphyry to the north below the offsetting structures; and
    • White mica infra-red spectrometry adsorption features indicating proximity of magmatic source to the north.
  • Northernmost historical diamond / RC drill hole at Thursday’s Gossan returned 32m at 0.8% copper and 0.4g/t gold and also displays the strongest sulphur isotope indication of proximity to a porphyry source below the offsetting structures.
  • Sulphur isotope values at Thursday’s Gossan are consistent with those observed at the Goonumbla (North Parkes) and Cadia Valley porphyry copper-gold systems in NSW.

“To have new IP chargeability in those areas predicted by the structural model as the most likely location for the transposed potassic ‘core’ of the porphyry system gives us great confidence in these targets.” – Stavely Minerals MD, Chris Cairns.

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