Stavely Discovers Exciting Gold Prospect at Cathcart HillApril 29, 2015
Indications of a possible ‘Stawell-style’ gold system at the Ararat Project
- 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