Stavely Minerals Limited (Stavely Minerals) (ASX: SVY) is a mineral exploration company formed to acquire early to advanced stage exploration projects with demonstrated high potential for additional discovery.
Stavely Minerals was founded and is operated by members of the former Integra Mining Limited management team with a track record of discovery and value creation.
On 6 May 2014, Stavely Minerals was admitted to the Official List of the ASX Limited following a successful Initial Public Offering which raised $6.1 million.
Stavely Minerals’ assets are located in western Victoria (Stavely & Ararat Projects) and north Queensland (Ravenswood Project) in Australia.
The Stavely Project hosts an Inferred Mineral Resource of 28 Mt at 0.4% copper for 110kt of contained copper (gold and silver not estimated) in a chalcocite-enriched supergene blanket.
In September 2019, the Company made a copper-gold-silver discovery at their flagship Stavely Project in western Victoria. The first diamond hole drilled to target the high-grade structurally controlled copper-gold-silver mineralisation within the Ultramafic Contact Fault (UCF) at the Thursday’s Gossan prospect returned stunning grades of up to 40% copper within a 32m wide high-grade zone.
Stavely Minerals is currently undertaking a resource drill out of the UCF mineralisation with assays received to date and the visuals from the completed holes demonstrating the growing scale and potential of the shallow copper-gold discovery, which has grown to 700m in strike length and remains open in all directions.
The Company is targeting additional high-grade structurally controlled mineralisation as well as a copper-gold porphyry at the Thursday’s Gossan prospect in the Stavely Project.
Stavely Minerals is targeting additional Sandfire-style VMS (volcanogenic massive sulphide) deposits in the Ararat Project. The Ararat Project hosts Besshi-style VMS copper-gold-zinc mineralisation at Mt Ararat with 1.2 Mt at 2.0% copper 0.5g/t gold and 0.4% zinc in Inferred Mineral Resources. There are also indications of Stawell-style gold mineralisation at the Ararat Project.
The Ravenswood Project, north Queensland, has excellent potential for orogenic and intrusive-related gold mineralisation with four identified porphyry copper-molybdenum-gold prospects. Additionally, early stage rare earths potential has been identified in the Project.