Stavely Minerals (ASX:SVY) says it will push ahead with a deeper diamond drilling program after confirming the geometry of high-grade copper mineralisation at the Junction prospect within its namesake project in Victoria.
A 20-hole aircore drilling program was completed, in which multiple intercepts intersected visible mineralisation, including several intervals of expected “very high-grade” copper mineralisation, alongside several broader mineralised intervals.
Stavely Minerals, which has a market capitalisation of $12.52 million, says several intercepts of visual copper oxide minerals, including azurite and malachite, alongside copper sulphides such as chalcopyrite, covellite, and chalcocite, were observed in the recent drilling program.
The company adds there is potential for further repetitions of similarly oriented high-grade copper mineralisation within the structural framework.
Once all of the assays from the recent drilling program are received, a deeper diamond drilling campaign will test the depth extent of the well-defined copper mineralisation at Junction.
Managing Director Chris Cairns says the company is eagerly awaiting the assays to confirm its preliminary interpretations and rock chip assay results.
“We are very pleased to provide further details of copper mineralised drill intercepts and photos from our recent aircore program at the Junction prospect,” Cairns says.
The assay results from rock chip samples are expected near the end of September 2024.
At Junction, historic intercepts have recorded 35m @ 3.44% copper and 26 grams per tonne (g/t) silver; 11m @ 1.72% copper and 26g/t silver; and 6m @ 1.77% copper and 21g/t silver.
Stavely Minerals is a mineral explorer focused on its assets comprising the Stavely and Ararat projects in western Victoria, Australia. The company also holds the Hawkstone Project in the Kimberley region of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Stavely Minerals
