Stavely Minerals’ (ASX: SVY) aircore drilling has confirmed geometry of high-grade copper mineralisation ahead of deeper diamond drilling at its 100%-owned Stavely Project in Victoria.
The company has sited multiple intercepts of visual copper mineralisation which contain several intervals of expected very high-grade copper mineralisation as well as several broader mineralised intervals.
“Following on from Stavely Minerals’ announcement on 3 September 2024, we are very pleased to provide further details of copper mineralised drill intercepts and photos from our recent aircore programme at the Junction Prospect,” Executive Chair and Managing Director, Chris Cairns, said.
“We eagerly await the assay results to confirm our preliminary interpretations as well as rock- chip assay results for gossanous float located at surface along strike from the drilled copper mineralisation.”
The Junction prospect is located approximately 2 kilometres 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.
While historic drilling at the Junction Prospect returned impressive intercepts, historic follow-up drilling failed to confirm a consistent structural orientation for the high-grade copper-gold-silver mineralisation. This uncertainty has been resolved with the recent aircore drilling.
Given the spatial distribution of the historical drill intercepts and the presence of multiple intercepts in a number of these drill holes, it appeared that there may be a number of mineralised areas especially extending to the north of the area of recent aircore drilling, have been received by the assay laboratory and results are expected near the end of September.