Stavely Minerals Projects
The Stavely and Ararat Projects are located ~200 kilometres west of Melbourne and are respectively just east of the regional town of Glenthompson and just west of the regional centre of Ararat, Victoria. The projects include exploration tenements with a total area of 193 square kilometres. Stavely Minerals has made applications for an additional 583 square kilometres of tenure of which 490 square kilometres has been granted, however, some of the outstanding applications are in competition with applications made by other companies. Total area owned and applied for by Stavely Minerals is 776 square kilometres. The projects have excellent infrastructure and access with paved highways, port connection by railroad and a 62 MW wind farm located 8 kilometres away from the Stavely Project. The primary land use is grazing and cropping.
The Stavely and Ararat Projects are prospective for porphyry copper-gold, VMS copper-gold-zinc-silver, epithermal gold and Stawell-style gold deposits with drill intercepts confirming the existence of each of these styles of mineralisation within the projects.
The Stavely and Ararat Projects host Mineral Resources reported in compliance with the 2012 JORC Code:
In the Stavely Project, at the Thursday’s Gossan prospect a near surface secondary chalcocite enriched blanket over a porphyry copper deposit with an estimated (using a 0.2% Cu grade lower cut-off) – 28Mt at 0.4% copper for a contained 110kt of contained copper. Details of the resource are shown in the Resource Section.
In the Ararat Project at the Mt Ararat prospect a postulated Besshi-style VMS deposit with an estimated (using a 1% Cu lower cut-off) – 1.2Mt at 2.0% copper, 0.5g/t gold, 0.4% zinc and 5.7g/t silver for a contained 30kt copper equivalent*. Details of the resource are shown in the Resource Section.
Stavely Minerals plans to update the previous scoping study undertaken by BCD Resources in 2008:
- Previous scoping study identified an opportunity to beneficiate the mineralisation in the chalcocite enriched blanket by washing out the kaolin clays prior to sulphide concentration.
- Drill twin holes at the Thursday’s Gossan chalcocite blanket to validate sampling and assay integrity.
- Drill to extend the Mineral Resources at the Mt Ararat copper-gold VMS to provide greater volumes of high-grade sulphide mineralisation into an integrated sulphide concentrate production facility at Stavely.
- Revise Scoping Study to incorporate possible beneficiation of Chalcocite blanket mineralisation and, subject to exploration success, additional high-grade sulphide feed.
In the Stavely and Ararat Projects, Stavely Minerals has identified:
- five high priority porphyry copper +/- gold targets
- two VMS copper-gold-zinc-silver targets
- two epithermal gold targets, and
- one Stawell-style gold target.