Stavely Minerals Encouraged by Ravenswood Results

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) said it has been encouraged by reconnaissance exploration results from the company’s 100 per cent-owned Ravenswood project in north Queensland.

Activity was carried out at the Dreghorn prospect, a group of prospects situated south of the Burdekin River that include the Area 8, Rhyolite Ridge, Ellen Boss, Ellen Boss East, Albion-Queenslander, Rejoice, Hidden Treasure and Percy Keene prospects.

At the Area 8 prospect, surface rock-chips have returned assay results to 0.65 grams per tonne gold, 106g/t silver, 39ppm arsenic and 83ppm antimony.

At the Bowerbird prospect, high-grade rock chip results included 14.2 per cent copper, 279ppm silver, 0.8 per cent zinc and 0.57 per cent lead.

“This exploration potential is particularly enhanced by the fact that Bowerbird is not far from the Area 8 prospect, displaying low-sulfidation colloform and crustiform quartz veining and associated anomalous geochemistry,” Stavely Minerals said in its ASX announcement.

“Further follow-up mapping and sampling is planned.”

Rock chip sampling at the Ravenswood Central prospects returned further encouraging assay results including:

36.6 g/t gold from a 5-10cm thick low-angle quartz vein at the Connolly Far North prospect;

5.54 g/t gold and 2.18 g/t gold from quartz veins at the Trieste prospect;

3.71 g/t gold and 1.88 g/t gold from the Kirker’s prospect; and

0.76 g/t gold and 151 g/t silver from the Dreghorn North prospect.

“Of particular interest, while there were a number of steep to moderate dipping quartz veins, there were also a large number of low-angle quartz veins observed at surface and in creek exposures in the Connolly North and Connolly Far North prospects,” Stavely said.

“Large areas of flat, platy quartz vein float could be indicative of a larger vein system similar to those at the Sarsfield and Nolans deposits at the Ravenswood gold mine, approximately 15 kilometres away.

‘Future work in the Connolly area will likely involve some Induced Polarisation (IP) geophysical surveying aimed at identifying a response from a higher density of quartz veins and associated disseminated sulphide halos.”