Stavely Minerals is set to restart reverse circulation drilling at its Fairview gold prospect in Western Victoria, aiming to validate a major mineralised structure linked to high-grade copper-silver zones nearby. This move reflects a strategic pivot towards gold exploration in response to soaring gold prices.
- RC drilling to commence at Fairview gold prospect in early June
- Fairview now linked to a +10km mineralised structural trend including Junction copper-silver prospect
- Historical drilling shows significant shallow gold intercepts up to 17.44g/t
- Updated structural model extrapolated from high-grade copper-silver mineralisation at Junction
- Focus shift driven by recent record highs in gold prices
Renewed Focus on Fairview Gold Prospect
Stavely Minerals Limited has announced the imminent start of a reverse circulation (RC) drilling program at its Fairview gold prospect, part of the company’s 100%-owned Stavely Copper-Gold Project in Western Victoria. This marks a strategic re-engagement with Fairview, a target that was previously overshadowed by the discovery of high-grade copper-gold-silver mineralisation at the nearby Cayley Lode in 2019.
The renewed drilling campaign, scheduled for early June, aims to test an updated geological model that positions Fairview as part of an extensive +10-kilometre mineralised structural corridor. This corridor links Fairview’s gold mineralisation with the high-grade copper-silver mineralisation at the Junction prospect, located approximately 1.2 kilometres along strike.
Historical and Recent Drilling Highlights
Previous drilling at Fairview, including diamond and RC holes conducted by Stavely in 2017, revealed promising gold intercepts such as 30 metres at 1.4 grams per tonne (g/t) gold, including 11 metres at 2.4 g/t. Historical air-core drilling by earlier explorers also returned significant shallow gold intercepts, notably 9.5 metres at 5.45 g/t gold, including 2 metres at an impressive 17.44 g/t.
These results underscore Fairview’s potential as a classic epithermal gold system, characterised by quartz-pyrite-gold mineralisation with associated alteration minerals such as sericite and adularia. The mineralisation is interpreted to be hosted within en-echelon tension-gash arrays along a major structural zone, which is thought to be linked to porphyry centres at Junction East and Mt Stavely.
Strategic Implications of Rising Gold Prices
Stavely’s decision to refocus on gold targets within its tenure is timely, given the recent surge in gold prices to record highs. This market dynamic has prompted the company to prioritise exploration programs that could unlock value from its gold assets, complementing its established copper-silver prospects.
The upcoming RC drilling will seek to confirm the structural controls on gold mineralisation at Fairview, refining the understanding of vein orientations and mineral continuity. This could pave the way for more targeted and efficient resource delineation in the future.
Robust Exploration Framework and Data Integrity
Stavely has provided comprehensive details on its sampling and assay methodologies, adhering to industry best practices and the JORC Code standards. Quality control measures, including the use of certified reference materials and blanks, ensure the reliability of assay data. The company also confirms secure sample handling and rigorous data verification protocols.
Looking ahead, further drilling is planned to test the revised mineralisation model, with the potential to extend the known mineralised zones and enhance the project’s resource base.
Bottom Line?
As Stavely Minerals drills deeper into Fairview’s potential, the market will watch closely for results that could reshape the company’s gold exploration narrative.
Questions in the middle?
- Will the upcoming drilling confirm the continuity and true width of the gold mineralisation at Fairview?
- How might the integration of Fairview into the broader +10km mineralised structure impact Stavely’s resource estimates?
- Could rising gold prices accelerate further exploration or development decisions at Stavely’s copper-gold projects?