Rising Gold Prices Prompt Stavely to Reignite Exploration at Fairview North
Stavely Minerals has launched a new drilling campaign at its Fairview North gold prospect, aiming to validate a major mineralised trend linking gold and copper-silver deposits in western Victoria.
- RC drilling commenced at Fairview North gold prospect
- Updated structural model links Fairview North to high-grade Junction copper-silver zone
- Historical drilling shows significant shallow gold intercepts
- Focus shifts back to gold targets amid rising gold prices
- Further exploration planned at Fairview South prospect
Exploration Resumes at Fairview North
Stavely Minerals Limited (ASX – SVY) has initiated a Reverse Circulation (RC) drilling program at its Fairview North gold prospect, part of the company's 100%-owned Stavely Copper-Gold Project in western Victoria. This move marks a renewed focus on gold exploration after the discovery of high-grade copper-gold-silver mineralisation at the nearby Cayley Lode in 2019 had shifted priorities.
A +10km Mineralised Structural Trend
The current drilling campaign, comprising eight RC holes, aims to test an updated geological interpretation that positions Fairview North as part of a continuous mineralised structure extending over 10 kilometres. This structure links Fairview North with the high-grade Junction copper-silver prospect approximately 1.2 kilometres along strike. The structural model suggests mineralisation is hosted within en-echelon tension-gash arrays along a major strike-slip fault system, a setting favourable for both epithermal gold and copper-silver deposits.
Historical Drilling Highlights
Strategic Shift Back to Gold
With gold prices recently reaching record highs, Stavely Minerals is refocusing its exploration efforts on gold targets within its tenure. Alongside the Fairview North drilling, reconnaissance work is underway at the Fairview South gold prospect, with results to be announced in due course. This strategic pivot reflects the company's intent to capitalise on favourable market conditions and the geological potential of its assets.
Implications for the Stavely Project
The integration of gold and copper-silver mineralisation along a major structural corridor enhances the prospectivity of the Stavely Project. The interpreted porphyry centre near Junction East and Mt Stavely could represent a significant mineralising system. If the ongoing drilling confirms the updated structural model and mineralisation continuity, Stavely Minerals could be on the cusp of defining a substantial multi-commodity resource in western Victoria.
Bottom Line?
As Stavely Minerals drills deeper into a promising structural corridor, the next assay results will be pivotal in shaping the future of its copper-gold ambitions.
Questions in the middle?
- Will the new RC drilling confirm the continuity and grade of gold mineralisation at Fairview North?
- How might the integration of gold and copper-silver mineralisation affect the project's overall resource potential?
- What timeline and scale of exploration can investors expect for the Fairview South prospect?
