THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) reported further results from ongoing resource drilling underway within the high-grade Cayley Lode discovery at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.
Stavely received the assay results from diamond drill holes completed prior to the winter rains to fill gaps in the drilling for the maiden Mineral Resource Estimate, expected to be completed towards the end of the year.
SMD156 that intersected the Cayley Lode in a position above the Low-angle structure, returning:
22.8 metres at 2.27 per cent copper, 0.38 grams per tonne gold and 19g/t silver from 247m, including 3m at 6.86 per cent copper, 1g/t gold and 11g/t silver, and 4.7m at 4.07 per cent copper, 0.78g/t gold and 77g/t silver.
Drill hole SMD156W1 was drilled as a wedge hole to SMD156, which had an interval of lost core in the Cayley Lode mineralisation, intersecting:
23.1m at 1.67 per cent copper, 0.25g/t gold and 19g/t silver from 246.9m down-hole, including 3.1m at 6.21 per cent copper, 0.69g/t gold and 77g/t silver.
Stavely has an intensive resource drill-out continuing with the focus on extending the deposit to the south-east and at depth within the (now) overall 1.5 kilometres-long discovery zone, with in-fill and step-out drilling continuing based on a roughly 40m by 40m drilling grid.
The Mineral Resource drill-out is well advanced and continues to generate impressive results, which have extended the Cayley Lode mineralisation.
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