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Stavely Minerals Ltd.
Summary
| Project: | Stavely | |
|---|---|---|
| Deposit: | Fairview North | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 4/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-4-2017: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Fairview North deposit at the Stavely project. Drilling results incl. 30m @ 1.4g/t Au from 47m. Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pleas | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Cairns (Internal) | |
| ABSTRACT: | Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pleased to advise that it has intersected a significant wide zone of strong gold mineralisation in a recently completed diamond drill hole at the Fairview North gold prospect, part of its 100%- owned Stavely Project in western Victoria (Figure 1). Previous explorers have tested the Fairview North gold prospect with a large number of aircore drill holes, eleven RC drill holes and two diamond drill holes (Figure 2). Strong near-surface gold grades up to 1 metre at 28 g/t gold were achieved but had proven inconsistent along section and between sections. The newly interpreted shallow NW plunge of the vein arrays would account for the inconsistency of the previous drill sections oriented to 070 degrees magnetic given that these drill sections would have been approximately parallel to the strike of the mineralised veins. The mineralisation is associated with fine quartz veins with central terminations, within which are hosted base-metal sulphides sphalerite (zinc), galena (lead) and minor chalcopyrite (copper). The sphalerite is a pale yellow to honey-coloured low-iron species, indicating a low temperature of formation typical of a distal porphyry environment. The Fairview North and Fairview South prospects are marginal to the interpreted Mount Stavely porphyry at depth, as indicated by a distinct gravity low. | |
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