Stavely Minerals Limited (Stavely Minerals) (ASX: SVY) is a mineral resource company currently focused on the exploration and development of the Stavely, Yarram Park and Ararat copper-gold-silver Projects in western Victoria.
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
Now that the open pit resource drill-out at the Cayley Lode has been completed the key elements of Stavely Minerals current strategy are as follows:
- Continue the mineral resource definition drilling on the Cayley Lode at depth
- Test for other high-grade structurally controlled copper-gold-silver mineralisation in the vicinity of the Cayley Lode.
- Progress the scoping studies based on a growing mineral resource inventory
- Explore for the copper- gold porphyry.
If successful, the key outcome will be a globally significant copper project based on the Cayley Lode mineralisation and potentially a world class deposit if the underlying porphyry copper source is located.