Stavely Minerals Limited (Stavely Minerals) (ASX: SVY) is a mineral exploration company focusing on uncovering the energy metals the world needs for a low-carbon future. The Company is exploring for copper, gold and silver at the Stavely and Ararat Projects in western Victoria, and nickel, copper and cobalt at the Hawkstone Project in west Kimberley, in northern Western Australia.

In September 2019, Stavely Minerals discovered shallow, high-grade, structurally controlled copper-gold-silver mineralisation – the Cayley Lode at the Thursday’s Gossan prospect on RL2017. The Cayley Lode shows some strong similarities with the Butte (Montana) and Magma (Arizona) deposits.

In June 2022, the Company announced an initial Mineral Resource Estimate (MRE) for the Cayley Lode Mineralisation and an updated MRE for the Thursday’s Gossan Chalcocite Blanket and the Carroll’s VMS deposits.

Combined total Thursday’s Gossan and Carroll’s MRE’s (open pit constrained) of:

  • 28.3Mt at 0.75% Cu, 0.11g/t Au and 3.5g/t Ag
    • Indicated Resources 21.5Mt at 0.61% Cu, 0.10g/t Au and 3.1g/t Ag
    • Inferred Resources 6.8Mt at 1.2% Cu, 0.1g/t Au and 4.7g/t Ag
  • Containing 210,000t (463Mlbs) of Cu, 100,000oz Au, 3.2Moz Ag and 2,400kt Zn

Stavely Minerals current strategy in western Victoria is to:

  1. Investigate opportunities for processing the Cayley Lode through an existing processing plant.
  2. Test for other high-grade structurally controlled copper-gold-silver-mineralisation in the vicinity of the Cayley Lode.

The Hawkstone Project covers an area in excess of 1,100 square kilometres over highly prospective stratigraphy in the west Kimberley. The Company is targeting Nova-style magmatic Ni-Cu sulphide mineralisation, similar to that intersected at the Merlin and very recent Dogleg discoveries on the adjacent tenements held by Buxton Resources/IGO. The high-grade massive nickel sulphide mineralisation at Merlin and Dogleg are hosted in the Ruins Dolerite and located 1km and 13km respectively, along strike to the northwest of the Hawkstone Project. The Hawkstone Project includes ~30 kilometres of easterly strike continuation of the Ruins Dolerite.

Stavely Minerals current strategy in west Kimberly is to:

  1. Discover high tenor magmatic style nickel mineralisation within the Ruins Dolerite.
  2. Explore the pegmatites associated with historic tin-tungsten-tantalum mines/occurrences in the project for their lithium potential.