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Stavely Minerals Ltd.

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Summary

Project:

Stavely

Deposit:Thursday's Gossan
Location:Australia
Commodities:Copper-Gold-Silver
Date:4/9/2020
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:9-4-2020: Stavely Minerals Ltd. announces an Exploration/Drilling Update report for its Thursday's Gossan deposit at the Stavely project. Drilling results incl. 7.6m @ 1.36% Cu, 0.24g/t Au, 7g/t Ag from 176m. Stavely Minerals Limited (ASX Code: SVY – “Sta
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 report significant new assay results from the ongoing resource drilling program at the shallow high-grade copper-gold discovery at the Thursday’s Gossan prospect, part of its 100%-owned Stavely Copper-Gold Project in Victoria (Figure 1). An intensive resource drill-out is currently underway on the south-eastern end of this (now) 1.2km long discovery zone, with in-fill and step-out drilling based on a roughly 40m x 40m drilling grid. Excluding the un-mineralised late dacite porphyry dykes between these three mineralised intercepts, the total mineralised interval in SMD074 in the Cayley Lode is 33.6m at 1.41% Cu, 0.36g/t Au and 7g/t Ag (Figure 4). It is considered appropriate to report the aggregate of the mineralised Cayley Lode width as the late dacite porphyry dykes are 9.3m and 15.8m in drill width respectively, and are considered of sufficient width to be excluded from a Mineral Resources Estimate and any subsequent selective mining plan. Conversely, late dacite porphyry dykes of widths less than 5 metres have been included in the reported mineralised intervals. Previously reported diamond drill hole SMD070, located ~40m east of SMD074, also returned a significant shallow intercept (Figure 6)

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