Significant New Porphyry Drill Target Identified at the Yarram Park Project, Western Victoria

January 12, 2016

Drilling planned to commence in May to test coincident magnetic high / gravity low / IP chargeability anomaly
identified from recent geophysical programmes at Toora West prospect

Highlights

  • A significant Induced Polarisation (IP) chargeability anomaly has been generated at the Toora West prospect, within Stavely’s 100%-owned Yarram Park Project, coincident with a magnetic high annulus / central peak and a gravity low.
  • The coincident and complementary geophysical anomalies, estimated to be buried under some 70m of transported younger cover, are consistent with anomalies expected from either a mineralised porphyry system or a sub-volcanic diatreme.
  • Drilling of the target is planned to commence in April-May, weather permitting.
    • “The striking feature of the Toora West target is the coincidence of three distinctly different data sets each providing geophysical anomalies consistent with our target porphyry copper-gold model for this region. It represents a very exciting target that has never been drill tested in a proven porphyry belt with the nearest drill hole through the younger cover sequence being some 1.5km away. ” – Stavely Managing Director, Chris Cairns.