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Stavely Minerals Ltd.
Summary
| Project: | Stavely | |
|---|---|---|
| Deposit: | Thursday's Gossan | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Nickel-Cobalt | |
| Date: | 10/2/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-10-2019: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Thursday's Gossan deposit at the Stavely project. Clarification of Sulphide Abundances in Drill Hole SMD051. Stavely Minerals Limited (ASX Code: SVY – “Stavely Minera | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Cairns (Internal) | |
| ABSTRACT: | Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) would like to provide clarification of statements made in its’ announcement dated 26 September 2019. In that announcement, the Company referred to completed drill hole SMD051, collared 160m further south-east of SMD050. The hole successfully intersected a structural zone of 85.7m width with an aggregate of approximately 60m of semi-massive to massive sulphide-quartz veining from 97.2m to 182.9m down-hole (Refer to Figure 5 in the announcement dated 26 September 2019). The size of the fault in this position is interpreted to be a result of structural thickening of the ultramafic contact fault (UCF). The style of mineralisation is generally characterised by early massive to semi-massive pyrite and quartz later fractured / re-opened and brecciated and in-filled with later copper sulphides including colusite, tennantite / tetrahedrite, enargite, chalcocite, covellite, bornite and chalcopyrite. Additionally, the mineralisation is zoned spatially with respect to the dominant and lesser copper sulphide species. Consequently, within a given interval of massive to semi-massive sulphide, certain intervals are dominated by iron sulphide (pyrite) of no economic significance, there are intervals of mixed pyrite and copper sulphides in varying abundance, and zones that tend to return higher-grade copper assays where the copper sulphides are ‘dominant’, or ‘greater than’ in abundance the iron sulphides. Massive sulphide is intended to mean between 90% and 100% sulphide while semi-massive sulphide is typically 50% to 90% sulphide by volume in a particular interval. | |
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