Fairview South Gold Discovery Raises Stakes but Key Assays Still Pending
Stavely Minerals has reported a significant high-grade gold intercept at its Fairview South prospect, extending mineralisation over a large strike length and setting the stage for expanded exploration.
- 40m at 1.96g/t gold intersected from surface in recent RC drilling
- High-grade 1m interval assayed at 49.2g/t gold near surface
- Rock-chip sampling extends gold mineralisation 400-600m south
- Fairview South and North prospects form a +10km mineralised structure
- Soil auger sampling planned to guide further drilling
Exploration Breakthrough at Fairview South
Stavely Minerals Limited has delivered a promising update from its Stavely Copper-Gold Project in western Victoria, revealing a thick zone of high-grade gold mineralisation at the Fairview South prospect. The standout result comes from a single Reverse Circulation (RC) drill hole, SFSRC001, which intersected 40 metres at 1.96 grams per tonne (g/t) gold starting from surface. Within this interval, a remarkable 1 metre section assayed at an exceptional 49.2 g/t gold, underscoring the prospect’s potential for high-grade mineralisation near surface.
Extending the Gold Footprint
Beyond drilling, reconnaissance mapping and float rock-chip sampling have extended the known gold mineralisation strike by up to 600 metres further south of the drill site. Several rock-chip samples returned assays exceeding 1 g/t gold, including a standout 25.6 g/t gold sample from gossanous float material. These findings suggest that the mineralised system is more extensive than previously understood, with geochemical signatures indicating a continuation of gold-bearing structures well beyond the current drill intercept.
Structural and Geological Insights
The gold mineralisation at Fairview South appears closely associated with intermediate and felsic intrusive rocks, particularly rhyolite dykes, and is situated at the intersection of a north-south trending gold structure and a west-northwest cross-cutting structural zone. This geological setting is encouraging, as it often correlates with significant mineral deposits. The presence of a gravity low coincident with these intrusions further supports the prospectivity of the area.
Awaiting Further Results and Next Steps
While the Fairview South results are compelling, assays from seven RC drill holes completed at the nearby Fairview North prospect are still pending. Together, Fairview South and North are now interpreted to be part of a large mineralised corridor exceeding 10 kilometres in length. Stavely plans to undertake a comprehensive soil auger sampling program in August, which will refine drill targeting and potentially unlock further extensions of the mineralised system.
Implications for Stavely’s Growth
Executive Chair and Managing Director Chris Cairns highlighted the significance of these results, noting the potential scale and high-grade nature of the gold mineralisation. The combination of drilling and surface sampling results positions Stavely well to advance its exploration strategy and attract further investor interest. The company’s methodical approach, integrating geological mapping, geochemistry, and targeted drilling, exemplifies a disciplined pathway toward resource definition.
Bottom Line?
Stavely’s Fairview South breakthrough sets a robust foundation for expanding gold resources in western Victoria, with upcoming assays and soil sampling poised to unlock further value.
Questions in the middle?
- What will the assay results from the seven Fairview North drill holes reveal about the continuity of mineralisation?
- How will the soil auger sampling refine the understanding of the mineralised system’s extent and geometry?
- What are the potential economic implications if the high-grade zones at Fairview South prove continuous at depth and along strike?
