Stavely Minerals Limited (ASX: SVY) has reported “high grade” copper-gold-silver hits from resource drilling at the Cayley Lode discovery within the Thursday’s Gossan prospect at the company’s Stavely Copper-Gold Project.
Key results include:
- Diamond Hole SMD156:
- 22.8m @ 2.27% Cu, 0.38g/t Au & 19g/t Ag from 247m, including
- 3m @ 6.86% Cu, 1.00g/t Au & 11g/t Ag, and
- 4.7m @ 4.07% Cu, 0.78g/t Au & 77g/t Ag
- 22.8m @ 2.27% Cu, 0.38g/t Au & 19g/t Ag from 247m, including
- Diamond Hole SMD156W1 (wedge hole to SMD156):
- 23.1m @ 1.67% Cu, 0.25g/t Au & 19g/t Ag from 246.9m down-hole, including:
- 3.1m @ 6.21% Cu, 0.69g/t Au & 77g/t Ag
- 23.1m @ 1.67% Cu, 0.25g/t Au & 19g/t Ag from 246.9m down-hole, including:
Drill-out program leading up to MRE
The diamond holes are part of a resource drill-out program which is designed to fill drilling gaps leading up to a maiden resource estimate, expected later in 2021. The program is focused on extending mineralisation to the south-east and at depth within the 1.5km-long discovery zone.
The company reports that multiple porphyry targets are being prioritised for testing in the spring, which it believes may point to a new porphyry province in western Victoria.
Stavely project
Located on the Stavely tablelands 250km west of Melbourne, The 1,046km² Stavely Project covers a “highly prospective” area over the Stavely Volcanic Belt and is comprised of a 100% owned retention licence RL2017, the Black Range Joint Venture licence EL5425 and exploration licence application EL6870.
The project is home to the Thursday Gossan prospect, a near-surface secondary chalcocite-enriched blanket with an estimated mineral resource of 28Mt at 0.4% Cu.
