Stavely Minerals Launches Diamond Drilling at Junction Prospect
SVY (SVY) Share Update November 2024 Wednesday 6th
Stavely Minerals Commences Diamond Drilling at Junction Copper-Silver Discovery
Stavely Minerals Limited (ASX: SVY) is set to commence diamond drilling at its high-grade Junction copper-silver discovery in Western Victoria. This initiative aims to confirm the structural orientations of the mineralisation and to further explore the large copper-in-soils anomaly nearby.
Instant Summary:
- Diamond drill rig mobilising to site next week.
- High-grade copper-silver intercepts from recent drilling.
- Potential for structural repetitions in mineralisation.
- New understanding of structural controls on mineralisation.
Exploration Update
Stavely Minerals Limited has announced that a diamond drill rig is being mobilised to the Junction copper-silver prospect, located 2km south of the Cayley Lode deposit in Victoria. This follows a successful air-core drilling program that revealed high-grade copper-silver intercepts.
The upcoming diamond drilling aims to test beneath these shallow intercepts to confirm the structural orientations controlling the mineralisation. The company hopes to gain insights that will inform further drilling of the large copper-in-soils anomaly located approximately 200m east of Junction.
Significant Intercepts
Recent assays from the Junction Prospect have returned impressive results, including 14m at 3.24% Cu and 34.5g/t Ag from 34m depth, and 48m at 1.60% Cu and 14.8g/t Ag from 2m depth. These results indicate the presence of high-grade mineralisation, which is interpreted to be hosted in sigmoidal tension gash arrays.
Potential for Further Discoveries
The new understanding of the structural controls on the high-grade mineralisation at Junction could have significant implications for further discoveries. The potential for repeats to the north of the drilled high-grade mineralisation is particularly promising. Additionally, the largest copper-in-soil anomaly in the Stavely Project, located east of Junction, presents an obvious target for further exploration.
Regional Context
At a regional scale, the findings highlight the fertility of the Stavely structural trend, which extends over 30 kilometres. This trend is known for its copper potential, and the new insights gained from the Junction Prospect could enhance the understanding of mineralisation across the region.
The commencement of diamond drilling at the Junction Prospect is a pivotal step for Stavely Minerals. If successful, it could lead to a significant new discovery, potentially transforming the Stavely Project. This development is likely to generate interest among investors, given the high-grade nature of the intercepts and the potential for further discoveries.
Investor Reaction:
Analysts are likely to view this development positively, given the high-grade results from recent drilling and the potential for further discoveries. The market may respond favorably if the diamond drilling confirms the structural controls and leads to additional high-grade findings.
Conclusion:
Investors should keep a close eye on the results of the diamond drilling at the Junction Prospect. A successful outcome could significantly enhance the value of the Stavely Project and strengthen Stavely Minerals' position in the market. This is an exciting time for the company as it seeks to unlock the full potential of its copper-gold assets.