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Stavely Minerals Ltd.
Summary
| Project: | Stavely | |
|---|---|---|
| Deposit: | Thursday's Gossan | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 8/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-8-2017: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Thursday's Gossan deposit at the Stavely project. Drilling results incl. 124m @ 0.31% Cu, 0.12g/t Au, 13g/t Ag from 70.0m. Stavely Minerals Limited (ASX Code: SVY – “ | |
| 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 its ongoing search for a world-class porphyry copper-gold deposit at its 100%-owned Stavely Copper Project in western Victoria (Figures 1, 2 and 3) continues to gather momentum with the latest drilling returning by far the strongest results seen at the Project to date. The Company has received the first batch of assay results from diamond drill ‘tails’ completed as a follow-up to a highly successful 20-hole RC drilling programme reported in early July at the Thursday’s Gossan copper deposit (see ASX announcement, 3 July 2017). Investors are advised to read this release in conjunction with the ASX release of 3 July 2017 announcing the original RC drill assay results and associated discussion. The diamond drill ‘tails’ were designed to follow-up a new interpretation of the controls on high-grade copper-gold mineralisation in the near-surface chalcocite-enriched copper ‘blanket’ at Thursday’s Gossan. In some cases, where the RC drill holes finished in coppergold mineralisation, the diamond drill ‘tail’ has extended that mineralisation significantly. Stavely Minerals’ Managing Director, Mr Chris Cairns, said the initial results from the deeper diamond drilling at Thursday’s Gossan represented a major step forward for the Company. “These are by far the best results we have seen to date from Thursday’s Gossan and, while we are adopting a systematic and cautious approach, it’s fair to say that they give us great confidence that we are on the right track towards identifying the porphyry source. | |
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