Stavely Discovers Exciting Gold Prospect at Cathcart Hill

April 29, 2015

Indications of a possible ‘Stawell-style’ gold system at the Ararat Project

Highlights

  • Soil geochemistry has defined an 800m long arsenic and chromium anomaly with coincident gold anomalism consistent with a ‘Stawell-style’ gold system.
  • Rock-chips of ferruginous duricrust with gold mineralisation to 0.8g/t gold and a nearby historical diamond drill bedrock intercept of 2m at 5g/t gold from 43m depth.
  • Geochemical signature at Cathcart Hill shows strong similarities to that observed over the Stawell Goldfield (+6Moz of historical and modern production).
  • Soil sampling grid being extended and a traverse of RC drilling is being planned.

Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pleased to advise that it has outlined an exciting gold prospect at its 100%-owned Ararat Project in western Victoria after receiving highly encouraging results from recent soil geochemical sampling and rock-chip sampling at the Cathcart Hill Prospect

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