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Stavely Minerals Ltd.
Summary
| Project: | Stavely | |
|---|---|---|
| Deposit: | Thursdays Gossan | |
| Location: | Australia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 3/9/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-3-2017: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Thursdays Gossan deposit at the Stavely project. Drilling results incl. 3.1m @ 1.48g/t Au, 21g/t Ag, 1.72% Cu from 216.9m. Further to its announcement of 22 February 2 | |
| Resources: | (Resource, Inf.): 28Mt @ 0.4% Cu at Thursday's Gossan | |
| CP/QP: | [Overall Report]: Chris Cairns (Internal) | |
| ABSTRACT: | Further to its announcement of 22 February 2017, Stavely Minerals Limited (ASX Code: SVY – “Stavely Minerals”) is pleased to advise that it has now received the first set of assays from recent diamond drilling programmes testing key copper-gold and gold targets at its 100%-owned Stavely Project in western Victoria (Figure 1). The Company has been undertaking these programmes with Victorian Government cofunding under the TARGET exploration initiative. The Thursday’s Gossan prospect hosts a shallow, chalcocite-enriched blanket of copper mineralisation with an Inferred Mineral Resource of 28Mt at 0.4% copper. The Company has previously completed a number of deep diamond drill holes designed to locate the potassic altered ‘core’ to this porphyry system, where better developed copper-gold mineralisation could be expected. While this exploration campaign is still continuing, recent drilling has also resulted in a major advance in the understanding of the controls on the near-surface, high-grade copper, silver and gold mineralisation – with important implications for ongoing exploration and potential future exploitation of this chalcocite zone. Stavely Minerals believes that the enhanced copper grades and the inclusion of silver and gold in the Mineral Resource estimate has the potential to materially enhance the economics of a proposed future development. | |
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