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Stavely Minerals Ltd.
Summary
| Project: | Stavely | |
|---|---|---|
| Deposit: | Thursday's Gossan | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 6/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-6-2019: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Thursday's Gossan deposit at the Stavely project. Drilling results incl. 307m @ 0.22% Cu from 15m. Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pl | |
| 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 assays from recently completed deep diamond drill-holes at the Thursday’s Gossan prospect, part of its 100%-owned Stavely Copper-Gold Project in western Victoria (Figures 1, 2 and 3), have provided the Company with a strong vector to the target porphyry at depth. Diamond drill-hole SMD045 has returned high-grade copper-gold mineralisation on the north-south structure (NSS). In conjunction with previous intercepts, these results are interpreted to provide a vector to the causative copper-gold porphyry at depth. When modelled in the plane of the NSS, these intercepts appear to reflect a steep southerly plunge to the well-developed high-grade copper-gold-silver mineralisation. This trend also appears to be reflected in a number of different data sets including sulphur, potassium and strontium geochemistry, vanadium over scandium ratios (reflecting an evolved porphyry fluid source) short-wavelength white mica infra-red absorption features (as reflecting proximity to a source porphyry), light sulphur isotopes (also reflecting proximity to an oxidised magmatic source) and other alteration mineralogy, copper sulphide species and vein characteristics. Deep drill-hole SMD048 has commenced to test the position beneath these intercepts, looking for the causative porphyry. Drill-hole SMD048 is being drilled at -70 degrees to 196 degrees azimuth to drill straight down the plunge of the interpreted structural ‘conduit’ that has accessed the causative porphyry at depth. The hole is being drilled parallel to the NSS and is not expected to intercept it unless the hole deviates. There may be opportunity to use this hole to wedge off a number of holes to penetrate the NSS at various depths. The primary target is the causative copper-gold porphyry at depth. | |
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