Stavely Minerals (ASX: SVY) is ramping up exploration activities at its wholly-owned Stavely copper-gold project in western Victoria following encouraging results. The company is focusing on gold potential, particularly at the Fairview North prospect, where recent reverse circulation (RC) drilling confirmed multiple wide zones of shallow mineralisation. This follows the release of promising initial results from the Fairview South prospect earlier in the week, suggesting a potential structure spanning 10 kilometres. Stavely Minerals is an Australian resource company focused on discovering and developing copper, gold, and other valuable minerals. The company’s primary asset is the Stavely Project, which is prospective for a range of minerals.
According to managing director Chris Cairns, the results validate the company’s strategic re-focus on gold. Drilling at Fairview North identified shallow, broad zones of moderate-grade gold mineralisation, including notable internal zones of higher-grade. Metallurgical test work from 2017 indicated that this style of mineralisation is suitable for low-cost heap leach extraction.
Stavely completed seven RC drill holes at Fairview North in June, preparing for a more comprehensive program to extend the known gold mineralisation. A drill program at the northernmost flexure ‘A’ at Fairview North was also executed to define the strike and dip of the gold mineralisation. Every hole intersected consistent zones of moderate to high-grade gold within broader zones of lower-grade mineralisation.
Earlier in the week, Stavely reported positive results from geological mapping and float rock-chip sampling at Fairview South. These results extended the prospect 600m south of a previous RC drill hole used to confirm the location of gold mineralisation. Cairns noted the potential for scale in this style of gold mineralisation, highlighting the strong gold results from the float rock-chip sampling, which demonstrates the potential for high gold grades further to the south.
