Fairview South Yields 40m at 1.96g/t Gold; Heap Leach Tests Exceed 80% Recovery

Strong Gold Results at Stavely Project

Stavely Minerals has delivered a compelling update from its Stavely Project in western Victoria, reporting outstanding assay results from recent reverse circulation (RC) drilling at both the Fairview South and Fairview North gold prospects. The highlight at Fairview South was a single drill hole intersecting 40 metres at 1.96 grams per tonne (g/t) gold from surface, including a remarkable 1 metre at 49.2 g/t gold. This thick, high-grade mineralisation is spatially associated with felsic and intermediate intrusions, suggesting a robust geological setting for further exploration.

At Fairview North, seven RC holes confirmed broad, shallow zones of moderate-grade gold mineralisation with internal higher-grade shoots. Notably, one hole returned 59 metres at 1.31 g/t gold from surface, including 3 metres at 10.81 g/t. These results reinforce the prospect’s potential as a significant near-surface gold deposit.

Metallurgical Testwork Validates Low-Cost Processing

Complementing the drilling success, metallurgical testwork on historical samples from Fairview North demonstrates excellent gold recoveries exceeding 80% using low-cost heap leaching methods. Bottle-roll and column leach tests showed rapid gold extraction kinetics, with some samples achieving over 95% recovery within 10 days. The presence of coarse gold was addressed through gravity recovery tests, further improving overall gold recovery rates. These findings suggest that the mineralisation style is amenable to straightforward, cost-effective processing, a critical factor for project economics.

Expanding Exploration and Strategic Focus

Stavely Minerals is actively expanding its exploration footprint, with reconnaissance mapping and rock-chip sampling extending the Fairview South prospect by up to 600 metres to the south. The company plans further RC drilling to delineate mineralisation at multiple structural flexures within Fairview North and to follow up on the promising Fairview South results. Additionally, an induced polarisation (IP) geophysical survey and infill aircore drilling are scheduled at the S41 breccia-hosted gold prospect, which remains largely underexplored but shows potential for large-scale mineralisation.

Meanwhile, Stavely’s Hawkstone nickel-copper project in Western Australia has secured $430,000 in government grants to support drilling and geophysical surveys, underscoring the company’s diversified exploration strategy.

Financial Position and Outlook

With $1.2 million cash on hand at quarter-end and a lean corporate structure focused on exploration, Stavely Minerals is well-positioned to advance its gold and base metal projects. The company’s pivot towards gold exploration complements its flagship Cayley Lode copper-gold-silver deposit, with potential operational synergies if a copper sulphide concentrator is added to a future gold processing plant.

Overall, Stavely’s June quarter results mark a significant step forward in defining and unlocking value from its Victorian gold assets while maintaining momentum in its Western Australian nickel-copper exploration.