Stavely Outlines Forward Exploration Programme at Mount Stavely Porphyry Copper and Fairview Gold Prospects

July 19, 2016

New gold and molybdenum soil geochemical anomalies support interpreted buried porphyry at Mount Stavely; IP geophysics and drilling planned at Fairview Gold and Mount Stavely with recently announced Victorian Government co-funding

Highlights

  • Successful programme of soil geochemical sampling completed over the inferred Mount Stavely porphyry, with assay results anomalous for gold, molybdenum and other indicator elements consistent with the presence of a buried porphyry system
  • The Mount Stavely buried porphyry is inferred from a distinct gravity low (the porphyry intrusion is less dense than the surrounding rocks)
  • The strongest gold and molybdenum soil results are coincident with an Induced Polarisation (IP) chargeability anomaly on the NE margin of the inferred porphyry
  • The Mount Stavely gravity/IP/geochemical anomaly will be drill tested in December with recently announced Victorian Government co-funding
  • The Fairview Gold prospect is currently being reviewed with the intention of following up previous drilling results which include:
  • 5m at 17.4 g/t gold from 28m drill depth
  • 2m at 16.1 g/t gold from 23m drill depth
  • 4m at 6.7 g/t gold from 10m drill depth
  • 8m at 5.0 g/t gold from 6m drill depth
  • The Fairview Gold prospect will be evaluated with a large Induced Polarisation geophysical survey with recently announced Victorian Government co-funding

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