Stavely Discovers Two New Gold and Base Metals Prospects at Ararat, Western Victoria

May 08, 2015

Indications of another possible ‘Stawell-style’ gold system at White Lead and an extensive new zinc-copper-gold prospect identified at Carroll’s

Highlights

  • Significant new gold and base metals prospects discovered from recent soil geochemical sampling at the Ararat Project, building further exploration momentum

At the White Lead Gold Prospect:

  • Soil geochemistry has defined a 1.2km long arsenic, copper, lead, and chromium anomaly consistent with that associated with the Stawell Gold deposit; and
  • Rock-chip results of up to 5.57g/t gold have been received

At the Carroll’s Base Metals Prospect:

  • Soil geochemistry has defined a 1.5km long and up to 500m wide zinc, copper, lead and chromium anomaly which remains open to the north and south
  • The soil anomaly is orders of magnitude larger than the soil anomaly associated with the Mt Ararat copper-gold-zinc deposit which contains an Inferred Mineral Resource of 1.2Mt at 2.0% copper, 0.5g/t gold, 0.4% zinc and 6g/t silver
  • Very high-grade rock-chip results have been returned including:
    • 24.0% copper, 1.1% zinc and 0.52g/t gold; and
    • 10.8% copper, 0.41% zinc and 1.54g/t gold

CLICK HERE FOR FULL ANNOUNCEMENT