Stavely Minerals Commences New Regional Exploration Drive

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) has kicked off a new regional exploration program across the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Stavely Minerals indicated the activities are aimed at building the company’s long-term growth pipeline of exploration opportunities across what it considers an emerging copper-gold-silver district.

Stavely has contracted French headquartered international geophysical contractor CGG to fly a state-of-the-art airborne gravity survey over its tenements using its airborne Falcon™ Gravity Gradiometer system.

An intensive Mineral Resource definition drill-out of the Cayley Lode copper-gold-silver discovery already underway with the current focus on extending the deposit to the north-west within the 1.5 kilometres-long discovery zone.

“Stavely Minerals was a first-mover in identifying the potential for porphyry and porphyry-related mineralisation in western Victoria in 2013 when there was an exploration downturn and Victoria was not a highly-regarded exploration destination,” Stavely Minerals executive chairman Chris Cairns said in the company’s ASX announcement.

“While both investor sentiment towards the sector generally and the standing of Victoria in exploration destination rankings has improved significantly, Stavely Minerals’ first-mover advantage has allowed us to aggregate a commanding position in what we believe are likely to prove the most productive and fertile portions of the mineralised ancient volcanic arc systems in this region.

“As a dedicated explorer, the importance of acquiring the strategic fundamental datasets that will underpin years of ongoing exploration in this emerging copper province cannot be overstated.

“In conjunction with airborne magnetic datasets that have been acquired both privately and by the State Government, the new gravity data will provide an independent but very complementary dataset of bedrock geophysical properties.

“The gravity data easily ‘sees through’ the shallow transported cover endemic to the region that otherwise obscures much of the basement geology.

“Given the Thursday’s Gossan prospect has such a large and distinctive gravity low signature, it was a no-brainer to fly the gravity gradiometer over our very large tenure position – that otherwise would take several years if acquired by ground-based surveys.

“We believe that this data, in conjunction with the other information already available to us, could fast-track exploration of an entirely new generation of copper-gold targets beyond Thursday’s Gossan, and potentially lead to significant new discoveries that could cement this area as a long-term source of copper for many decades to come.

“We are looking forward to the results of this landmark survey, which we expect will reveal numerous targets and exploration hot-spots that will need to be followed up and tested in the months and years ahead.”