About Stavely Minerals
Stavely Minerals Limited (Stavely Minerals) (ASX: SVY) is a mineral exploration company formed to acquire early to advanced stage exploration projects with demonstrated high potential for additional discovery. The Company was admitted to the Official List of the ASX on 6 May 2014.
Stavely Minerals was founded and is operated by members of the former Integra Mining Limited management team with a track record of discovery and value creation.
Stavely Minerals’ assets, the Stavely, Yarram Park and Ararat Projects, are located in western Victoria in Australia.
The Stavely Project hosts an Inferred Mineral Resource of 28 Mt at 0.4% copper for 110kt of contained copper (gold and silver not estimated) in a chalcocite-enriched supergene blanket.
In September 2019, Stavely Minerals discovered high-grade, copper-gold-silver mineralisation, the Cayley Lode, at the Thursday’s Gossan prospect in the Stavely Project.
The Company is in a resource definition drill-out of the Cayley Lode which has returned high-grade copper-gold-silver mineralisation over a lateral extent of around 1.5km and drilling has intercepted mineralisation to depths of almost 1 kilometre.
The Company is targeting additional high-grade structurally controlled mineralisation as well as a copper-gold porphyry at depth at the Thursday’s Gossan prospect in the Stavely Project. The Stavely and Yarram Park Projects are located in the Stavely Volcanic Belt and are highly prospective for copper- gold porphyries.
The Ararat Project hosts Besshi-style VMS copper-gold-zinc mineralisation at Mt Ararat with 1.2 Mt at 2.0% copper 0.5g/t gold and 0.4% zinc in Inferred Mineral Resources. The Mt Ararat Deposit is open at depth and along strike. Stavely Minerals is targeting additional Sandfire-style VMS (volcanogenic massive sulphide) deposits in the Ararat Project. There are also indications of Stawell-style gold mineralisation at the Ararat Project.
Drilling Confirms Substantial Extensions to High-Grade Mt Ararat VMS Copper-Gold-Zinc Deposit
Strong drilling results highlight potential for Mt Ararat deposit to form part of an expanded project based on the Cayley Lode discovery
Toora West Strong Evidence of Emerging Porphyry Discovery
Further encouraging indications from shallow air-core drilling ~15km NW of the Thursday’s Gossan prospect provide a strong target for deeper diamond drilling