Stavely Minerals Limited (ASX: SVY) has announced a major increase in the Mineral Resource Estimate (MRE) for its Stavely Copper-Gold Project in Western Victoria. Stavely Minerals is focused on discovering and developing copper, gold, and other valuable resources. The updated MRE now stands at 60Mt at 0.58% copper equivalent (CuEq), providing a robust foundation for the 2026 Scoping Study currently in progress.
The updated MRE contains 280,000 tonnes of copper, 170,000 ounces of gold, and 5.4 million ounces of silver. A significant portion of these metals, 58% of the copper, 63% of the gold, and 63% of the silver, are classified in the higher-confidence Indicated Resource category. Compared to the previous 2022 MRE, the tonnage has increased by 113%, contained copper has increased by 31%, contained gold has increased by 67%, and contained silver has increased by 69%.
The primary factor driving these increases in volume and contained metal is the substantial rise in metals prices. This has allowed for the inclusion of previously unclassified low-grade copper, gold, and silver mineralisation within the updated MRE. The MRE will underpin an updated Scoping Study on potential copper-gold-silver production from the Thursday’s Gossan prospect, expected to be completed before mid-year 2026.
An additional open pit optimisation, based on consensus metal prices, has captured a proportion of the Thursday’s Gossan MRE, estimating 34Mt at 0.74% CuEq, containing approximately 190kt copper, 110koz of gold, and 3.6Moz of silver. Stavely Minerals anticipates that the Scoping Study should support a 3Mtpa processing option, potentially producing around 20kt per annum of copper-equivalent in concentrate over a +10-year life of mine.
