Thursday’s Gossan Copper-Gold Porphyry – The Technical Planets Align as Pivotal Drilling Starts

November 20, 2017

Recent RC and diamond drilling has not only produced impressive copper-gold assays but has also provided further strong indications for a potential discovery with a range of key technical indicators aligning and follow-up diamond drilling already in progress – downloadable 3D model available

Highlights

  • Additional technical data collected from recent drilling at the Thursday’s Gossan porphyry copper-gold prospect provides compelling evidence over and above the previously released copper and gold grades that Stavely has a significant copper-gold discovery opportunity on its hands.
  • The results of recent drilling are interpreted to be structurally controlled ‘leakage’ from a mineralised alkalic copper-gold porphyry at depth.
  • A significant copper-gold porphyry target zone located beneath recent drilling is highlighted by a number of independent datasets.
  • Short wavelength infra-red (SWIR) absorption features indicate the following:
    • Short-wavelength absorption features for white micas highlight the shortest wavelengths in the hangingwall to the ‘leakage’ structure, indicating proximity to a porphyry source; and
    • The occurrence of ‘acid-sulphate’ alteration minerals including pyrophyllite and alunite together with observed vuggy silica textures are characteristic of a high-level position in the mineralised system for the drilling to date.
  • Sulphur isotope data with strongly negative values to -21.6‰ δ34 sulphur and with many -3‰ to -6‰ results clustering around the target zone are comparable to those documented from many alkalic copper-gold porphyry systems from British Columbia, the Yukon, Alaska and Australia – including the Cadia Valley and North Parkes copper-gold deposits.
  • D-vein occurrences in all drilling have been characterised, and the spatial distribution of the critical copper-gold D-veins coincides with the target zone.
    • Web links to the full reports by independent consultants Paul Ashley (petrology), Scott Halley (litho/alteration geochemistry and SWIR alteration mineralogy) and Greg Corbett (an expert in the porphyry/epithermal field), as well as a 3D model that can be downloaded are all available from the Stavely Minerals’ website.
    • The next phase of follow-up diamond drilling at Thursday’s Gossan is already underway, with the first hole completed and the second in-progress. A total of up to eight holes are planned as part of the current programme, with drilling set to continue for the next few months.

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