Stavely Minerals' Junction Prospect Yields High-Grade Copper-Silver Intercepts
STAVELY MINERALS LIMITED (SVY) Share Update September 2024 Monday 30th
Stavely Minerals Announces Significant Copper-Silver Discovery at Junction Prospect
Stavely Minerals Limited (ASX: SVY) has announced significant high-grade copper-silver intercepts from its recent aircore drilling at the Junction Prospect, located 2km south of the Cayley Lode deposit in Western Victoria.
Instant Summary:
- 14m @ 3.24% Cu, 34.5g/t Ag from 34m in SJAC105
- 48m @ 1.60% Cu, 14.8g/t Ag from 2m in SJAC112
- 40m @ 1.59% Cu, 13.0g/t Ag from 10m in SJAC103
- 20m @ 2.16% Cu, 21.6g/t Ag from 18m in SJAC116
- 20m @ 2.48% Cu, 24.4g/t Ag from 32m in SJAC117
- 22m @ 1.85% Cu, 19.6g/t Ag from 28m in SJAC113
- 6m @ 3.23% Cu, 9.2g/t Ag from 2m in SJAC104
Exploration Update
Stavely Minerals Limited has received significant assay results from its recent 21-hole aircore drilling program at the Junction Prospect. The drilling has confirmed a shallow, high-grade copper-silver discovery, with notable intercepts including 14m @ 3.24% Cu and 34.5g/t Ag from 34m in hole SJAC105, and 48m @ 1.60% Cu and 14.8g/t Ag from 2m in hole SJAC112.
Additional high-grade results were reported from several other holes, with highlights such as 40m @ 1.59% Cu and 13.0g/t Ag from 10m in SJAC103, and 20m @ 2.16% Cu and 21.6g/t Ag from 18m in SJAC116. These results indicate a significant shallow copper-silver mineralisation at the Junction Prospect.
Geological Insights
The high-grade copper-silver mineralisation is interpreted to be hosted in a series of sigmoidal tension gash arrays. Outstanding rock-chip float samples to the north suggest strong potential for structural repetitions, including samples with up to 0.51% Cu, 7.35g/t Au, and 143g/t Ag.
A new understanding of the structural controls on the high-grade mineralisation at Junction could have significant implications for further discoveries. This includes potential repeats to the north of the drilled area and the largest copper-in-soil anomaly in the entire Stavely Project, located approximately 200m to the east of Junction.
Future Exploration Plans
With the Victorian summer exploration season approaching, Stavely Minerals plans to aggressively pursue follow-up exploration. This includes proposed diamond drilling underneath the recent aircore drill results at Junction, additional aircore drilling, IP geophysical surveys at the S41 breccia-hosted gold target, and diamond drilling at the Toora Road Prospect.
The discovery of high-grade copper-silver mineralisation at the Junction Prospect is a positive development for Stavely Minerals. This could lead to an increase in the company's stock price as investors react to the potential for further discoveries and resource expansion. The new geological understanding also opens up significant broader discovery opportunities across the Stavely Project.
Investor Reaction:
Analysts are likely to react positively to the high-grade intercepts and the potential for further discoveries. The new geological insights and planned aggressive exploration program could boost investor confidence in Stavely Minerals' exploration strategy.
Conclusion:
Investors should keep an eye on Stavely Minerals' upcoming exploration activities and the potential for further high-grade discoveries. The company's strategic response to these new findings will be crucial in maintaining and potentially increasing investor confidence.