Stavely Minerals Confirms Epithermal Style at Freddy’s Find with Scoping Study Nearing Completion

Freddy’s Find Drilling Validates Epithermal Gold-Silver System

Stavely Minerals (ASX:SVY) has taken a significant step forward at its Freddy’s Find prospect in western Victoria, completing a 506.8m deep diamond drill hole (STDD0002) that confirms the presence of a magmatic arc-related low-sulphidation epithermal gold-silver system. This style of mineralisation, characterised by multiple sulphide phases including pyrite, marcasite, sphalerite, galena, and silver sulpho-salts, aligns with classic hydrothermal zonation patterns observed in preserved epithermal systems.

The diamond hole targeted extensions beneath strong shallow reverse circulation (RC) drill intercepts such as 16m at 1.09g/t AuEq from 46m and 16m at 1.21g/t AuEq from 113m, previously reported in hole STRC0132. Geological logging revealed intense argillic alteration and quartz-adularia textures consistent with epithermal boiling zones, suggesting the drilling intersected the upper levels of the hydrothermal system where "bonanza-grade" mineralisation can occur in analogous deposits. Assay results for STDD0002 are anticipated in August 2026, which will clarify the grade and extent of mineralisation.

Thursday’s Gossan and Cayley Lode Scoping Study Nears Finalisation

Meanwhile, the Scoping Study assessing the development potential of the Thursday’s Gossan and Cayley Lode copper-gold-silver deposits is in its final documentation stage, with all key technical work completed. The study is underpinned by a substantial March 2026 Mineral Resource Estimate of 60 million tonnes at 0.58% copper equivalent, containing 280,000 tonnes of copper, 170,000 ounces of gold, and 5.4 million ounces of silver.

Workstreams have included detailed open pit optimisations, capital and operating cost estimates for processing facilities ranging from 3 to 5 million tonnes per annum, and metallurgical testwork. Notably, a large proportion of the resource has been captured in open pit designs and the project economics appear robust across variations in key input costs. The study explores flexible production scenarios including staged dual-circuit processing to optimise capital expenditure and operational flexibility.

The Scoping Study’s final report is expected to be released to the market by the end of July 2026, potentially providing clarity on the economic viability of this copper-gold-silver development opportunity.

Government Support and Funding Bolster Exploration Programs

Stavely’s Hawkstone nickel-copper project in Western Australia’s West Kimberley region has secured up to $150,820 in co-funding from the WA Government’s 2026-2027 Co-Funded Geophysics Program. This funding will support further Moving Loop Electro-Magnetic (MLEM) geophysical surveys targeting emerging conductors and feeder zones along a major mafic-ultramafic magmatic system. The Hawkstone project lies along the same geological trend hosting recent nickel-copper-cobalt discoveries by IGO/Buxton, highlighting its strategic potential.

On the corporate front, Stavely wrapped up the quarter with $3.11 million in cash, boosted by a heavily oversubscribed A$4 million equity placement completed in two tranches. The capital raise, priced at a 17.8% discount to the last traded price, is earmarked for finalising the Scoping Study, preliminary pre-feasibility work, and ongoing exploration including drilling campaigns.

Exploration Plans Focus on Freddy’s Find and Hawkstone Targets

Looking ahead, Stavely plans to continue drilling at Freddy’s Find with 10-12 reconnaissance RC holes aimed at delineating the strike extent of the epithermal system, testing the adjacent large-scale S4 porphyry target, and exploring a nearby “look-alike” prospect. Further diamond drilling will be considered following the receipt of assay results from STDD0002.

At Hawkstone, the next phase of MLEM surveying is scheduled to follow up on an emerging late-time conductor and test potential feeder zones within the interpreted ~20km mafic-ultramafic magma chamber. These efforts align with the company’s strategy to build on early geophysical and drilling success in this emerging nickel province.