Stavely Minerals Targets Large-Scale Gold and Copper Zones with New IP Survey and Drilling
Stavely Minerals is progressing exploration at its Western Victoria copper-gold project, initiating a ground IP survey at the S41 gold prospect and confirming high-grade copper-silver mineralisation at the Junction discovery through recent drilling.
- Induced Polarisation (IP) survey planned for S41 breccia-hosted gold target
- S41 interpreted as a 2km by 750m breccia pipe with promising gold mineralisation
- Recent diamond drilling at Junction confirms continuation of high-grade copper-silver mineralisation
- Access being pursued for optimally oriented follow-up drilling at Junction
- S41 and Junction prospects show potential analogues to significant regional deposits
Exploration Momentum at Stavely Copper-Gold Project
Stavely Minerals Limited (ASX: SVY) has announced a strategic advancement in its exploration activities within the Stavely Copper-Gold Project in Western Victoria. The company is preparing to conduct an extensive Induced Polarisation (IP) geophysical survey at the S41 breccia-hosted gold prospect, while simultaneously pursuing land access to enable further drilling at the Junction copper-silver discovery.
S41 Gold Prospect: A Large-Scale Breccia Pipe Undercover
The S41 target, concealed beneath approximately 50 metres of basalt cover, is interpreted as a substantial breccia pipe measuring roughly 2 kilometres by 750 metres. Early-stage drilling has confirmed gold mineralisation within this system, with assays including 4 metres at 2.21 g/t Au and 1 metre at 2.16 g/t Au from diamond drilling. The breccia-hosted system shares geological characteristics with notable deposits such as Mount Leyshon and Kidston in Queensland, and Kelian in Indonesia, though Stavely cautions it is premature to equate S41’s potential with these multi-million-ounce analogues.
The planned IP survey aims to delineate zones of sulphide mineralisation that may correlate with late-stage gold mineralisation, which is often spatially inconsistent and located on breccia margins or relaxation structures. This geophysical approach is expected to refine drill targeting and enhance the understanding of the system’s scale and grade continuity.
Junction Prospect: Confirming High-Grade Copper-Silver Mineralisation
At the Junction copper-silver discovery, located about 2 kilometres south of the Cayley Lode deposit, recent diamond drilling has validated the presence of high-grade mineralisation at depth, consistent with earlier air-core drilling results. Noteworthy intercepts from air-core drilling include 14 metres at 3.24% Cu and 34.5 g/t Ag, with higher-grade intervals such as 2 metres at 6.47% Cu and 59.5 g/t Ag.
However, the initial diamond holes drilled prior to Christmas were positioned from the roadside reserve and at suboptimal angles, limiting their effectiveness in fully testing the mineralised zone. Stavely is actively negotiating access for more suitable drill sites to enable follow-up drilling with improved orientation, which is critical given the structural complexity of the region.
Strategic Implications and Next Steps
The dual focus on S41 and Junction underscores Stavely Minerals’ commitment to unlocking the potential of its Western Victoria tenure. The S41 IP survey represents a key step in advancing a large-scale gold target from conceptual to drill-ready status, while the Junction prospect’s confirmed mineralisation at depth offers a compelling copper-silver opportunity adjacent to an established resource.
With a market capitalisation of approximately $12 million and cash reserves nearing $3 million as of September 2024, Stavely is well-positioned to fund these exploration initiatives. The company’s methodical approach, combining geophysical surveys with targeted drilling, reflects a disciplined strategy to de-risk and define mineralisation ahead of potential resource delineation.
Bottom Line?
Stavely’s upcoming IP survey and improved drilling access could unlock significant value, but the true scale of mineralisation remains to be proven.
Questions in the middle?
- Will the IP survey at S41 identify coherent sulphide zones that correlate with higher-grade gold mineralisation?
- How soon can Stavely secure land access to conduct optimally oriented drilling at Junction?
- What are the implications of structural complexity on the continuity and scale of mineralisation at both prospects?
