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Stavely Minerals Ltd.
Summary
| Project: | Stavely | |
|---|---|---|
| Deposit: | Thursday's Gossan | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 2/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-2-2019: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Thursday's Gossan deposit at the Stavely project. Drilling results incl. 63m @ 0.84% Cu, 0.11g/t Au from 517m. Stavely Minerals Limited (ASX Code: SVY – “Stavely Mine | |
| 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 the current diamond drill-hole at the Thursday’s Gossan prospect, part of its 100%-owned Stavely Copper-Gold Project, located in Western Victoria (Figure 1), has encountered a broad zone of copper sulphide mineralisation including the first significant interval containing bornite mineralisation – the best visual intercept returned from the Project to date. This follows the re-orientation of the drilling angle based on the new interpretation of the potential location of the porphyry outlined recently (see ASX announcement, 18 January). Stavely Minerals’ Executive Chairman Mr Chris Cairns said the broad zone of visual mineralisation observed in the latest drill-hole, SMD044, represented an exciting new development in the Company’s ongoing patient search for a world-class porphyry discovery. “We are very excited to have intersected a significant interval of copper sulphide mineralisation, particularly as it contains the first significant zone of bornite we have ever seen at Thursday’s Gossan,” he said. “This is clearly the best interval we have drilled to date and we are confident that the copper assays will reflect the better developed chalcopyrite and bornite mineralisation. “The unknown factor, as we have been saying for some time now, is that we expect substantially better gold grades in zones of bornite mineralisation. How much better the gold grades are, will only be known once we get the laboratory assays in a few weeks. In the meantime, a new hole will be collared shortly to target what we believe may be the core of the porphyry intrusion to the south. | |
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