Stavely Minerals (ASX: SVY) has kicked off diamond testing the high-grade Junction copper prospect, located 2km south of the Cayley Lode deposit within its 100%-owned Stavely Copper-Gold Project in Victoria.
The new phase of diamond drilling follows on from the recent highly successful 21-hole air-core drilling program at the Junction Prospect, which returned multiple outstanding high-grade intercepts as announced on 1 October 2024.
A diamond drill rig has commenced to test beneath these outstanding results.
Executive Chair and Managing Director, Chris Cairns, said the very large and high tenor copper-in-soil anomaly at Junction, with surface samples to over 0.5% copper, has been enigmatic since it was first sampled in 1979.
“To be able to follow-up the high copper and silver grades returned from recent shallow air-core drilling with imminent diamond drilling is a fantastic opportunity, both to confirm the orientation of the structural controls to the high-grade mineralisation and to apply that new understanding to test the very large Junction copper-in-soils anomaly just 200m to the east,” Mr Cairns said.
“This is an exciting time for our team as we put some of these recent breakthroughs and learnings to the test with the diamond drill rig.
“A significant new discovery at Junction would clearly be transformational for the Stavely Project, where we have already defined a significant Mineral Resource at the Cayley Lode Deposit.”
The Junction Prospect is located approximately 2km south of the Cayley Lode Deposit, which hosts a Mineral Resource Estimate of 9.3Mt at 1.23% copper, 0.23g/t gold and 7g/t silver.
The wet conditions of the Victorian winter are abating and the exploration season has commenced and is expected to extend through to the end of April next year.