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Stavely Minerals Ltd.
Summary
| Project: | Ravenswood | |
|---|---|---|
| Deposit: | The Bank | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum-Silver | |
| Date: | 1/10/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-1-2017: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its The Bank deposit at the Ravenswood project. Drilling results incl. 22.80m @ 0.60% Cu from 116.90m. Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pl | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Chris Cairns (Internal) | |
| ABSTRACT: | Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pleased to advise that it has received strong assay results for the first two of five diamond drill holes at The Bank breccia prospect within its 100%-owned Ravenswood Gold Project, located 10km west of the Ravenswood gold mining centre near Charters Towers in north-east Queensland (Figure 1). Strong copper-moly-silver sulphide mineralisation has been intercepted in drill hole SRD002 (Figures 3 and 4) within a broad interval of 22.8 metres at 0.60% copper there are higher grade intervals. The Bank breccia1 is interpreted to be a sub-volcanic breccia pipe formed by deep-seated explosive fracturing of a column of rock above a porphyry intrusive (Figure 2). Consequently, it is very likely that the observed strong copper-moly-silver mineralisation could persist to significant depth and there may be opportunity to target higher grade and more extensive mineralisation closer to the porphyry source at depth. ‘The Bank’ breccia displays similarities to the Battle Mountain copper-moly-silver mineralisation in Nevada, USA. Encouraging zones of vein-hosted and breccia-hosted quartz-carbonate-sulphide mineralisation have been intersected in all holes completed to date with geological observations of the surrounding host rock sequence providing strong support for the geological model for ‘The Bank’ breccia (Figure 2). The better developed mineralisation within the breccia complex is hosted within an interpreted tuffisite dyke similar to that at Mt Leyshon. Copper sulphide mineralisation is expressed as chalcopyrite and tennanite / tetrahedrite ± bornite ± molybdenite as disseminations, blebs, clots and breccia fracture fill (Photos 1 and 2). | |
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