Stavely Minerals Deepens Drilling to Unlock Freddy’s Find Gold-Silver Potential

Diamond Drilling Targets Depth Extensions at Freddy’s Find

Stavely Minerals (ASX:SVY) has commenced a deep diamond drill hole at the Freddy’s Find prospect within its 100%-owned Stavely Copper-Gold Project in western Victoria. This hole is designed to test beneath previously reported significant gold-silver mineralisation intercepted in reverse circulation (RC) drill hole STRC0132, which returned 16m at 1.09g/t gold equivalent (AuEq) from 46m, including higher-grade zones up to 2.31g/t AuEq.

The diamond drilling aims to establish whether the broad zones of epithermal gold-silver mineralisation observed near surface extend at depth and potentially transition into a large porphyry copper-gold system. The hole is planned to core 350-500m beneath the basalt cover, with coring commencing below 70m.

Widespread Hydrothermal Breccia System Confirms Scale

Earlier wide-spaced RC drilling at Freddy’s Find confirmed a large hydrothermal breccia system approximately 2km by 750m in size, characterised by intense alteration and sulphide mineralisation over intervals exceeding 100m. Significant gold and silver mineralisation is hosted within this breccia, with assay highlights including:

• 16m at 1.09g/t AuEq from 46m in STRC0132
• 7m at 1.94g/t AuEq from 53m within the same hole
• 4m at 2.31g/t AuEq from 56m
• 4m at 2.32g/t AuEq from 96m in an earlier air-core hole STAC0115

The mineralisation style is interpreted as porphyry-related epithermal gold-silver, with geochemical data indicating poly-phase mineralisation. Three distinct zones were identified in STRC0132: two chalcophile-affinity zones rich in Au-Ag-Mo-Cu±Pb-Zn, and a middle epithermal-affinity zone enriched in Au-Ag-As-Sb with higher silver grades.

Expanding Exploration with RC Drilling at S4 and Look-Alike Targets

Following the diamond drill hole, Stavely plans to undertake 10-12 reconnaissance RC drill holes in the vicinity to tighten drill spacing around STRC0132 to approximately 80m. These holes will also test the S4 prospect, a large gravity low located southwest of Freddy’s Find, which exhibits geochemical and geophysical signatures consistent with a porphyry-style hydrothermal system.

The S4 target, along with a previously undrilled look-alike target to the west of Freddy’s Find, could potentially merge with the Freddy’s Find system to form a multi-phase porphyry complex spanning roughly 3km in diameter. Historical air-core drilling at S4, though limited and widely spaced, showed anomalous geochemistry and rhyolite intrusives typical of late-stage porphyry features.

Technical Insights and Ongoing Study

Detailed geochemical and mineralogical analyses, including multi-element assays and spectral data, reveal intense quartz-sericite-pyrite (phyllic) alteration associated with the precious metals zone. The presence of pathfinder elements such as arsenic, antimony, molybdenum, and bismuth supports the porphyry-related epithermal model.

Stavely’s Executive Chair and Managing Director Chris Cairns emphasised the scale of the opportunity, noting the “immense” potential for a material gold-silver discovery at Freddy’s Find and the possibility of a larger porphyry system incorporating S4. He also highlighted the company’s parallel progress on a scoping study for copper-gold-silver production from the Thursday’s Gossan and Cayley Lode deposits, expected mid-year.

While the current drilling focuses on confirming mineralisation continuity and depth extensions, metallurgical testwork has yet to be completed, leaving recoverability assumptions preliminary. The geometry and true widths of mineralisation remain uncertain at this early stage.