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.
Significant Intercepts Below the Low-Angle Structure Highlight Future Underground Potential at Cayley Lode
Significant new high-grade assay results received from drill hole SMD159, which intersected the Cayley Lode below the Low-Angle Structure (LAS) plus agreement now reached to secure access south of the railway line from 1 December
More High-Grade Copper-Gold-Silver Intercepts in the Cayley Lode to Support Maiden Resource Estimate
Thick zones of strong Cayley Lode mineralisation intersected grading up to 6.86% Cu
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