Stavely Minerals Unearths Promising Gold Discoveries at Fairview Prospects in Victoria

Stavely Minerals (ASX: SVY) continues to achieve impressive results with its aggressive exploration activities at the wholly-owned Stavely copper-gold project in western Victoria.

The company is now preparing to accelerate exploration at the project after gold-focused reverse circulation (RC) drilling at the Fairview North prospect confirmed multiple wide zones of shallow mineralisation.

The news follows the company’s release of promising initial results from the Fairview South prospect earlier this week, with the combined successes suggesting the prospects form part of a structure 10 kilometres in length.

Gold Re-Focus

Managing director Chris Cairns said the promising results came after the company’s recent re-focus on the gold potential at the project.

“It’s great to see such a consistent set of gold results from the recent RC drilling at Fairview North, where [we identified] shallow, broad zones of moderate grade gold mineralisation with notable internal zones of higher-grade,” he said.

“The significance of the shallow broader zones of gold mineralisation is that metallurgical test work from 2017 clearly demonstrates that this style of mineralisation is amenable to low-capital and low-operating cost heap leach extraction.”

Comprehensive Program

Stavely completed a total of seven RC drill holes at Fairview North June in preparation for a more comprehensive program to extend the known gold mineralisation.

It also executed a reasonably tight drill program at the northernmost flexure ‘A’ at Fairview North to properly define the strike and dip of the gold mineralisation.

The company intersected well-developed and consistent zones of moderate to high-grade gold within characteristically broader zones of lower-grade mineralisation in every hole of the section.

Fairview South Success

Earlier this week, Stavely reported promising results from geological mapping and float rock-chip sampling at Fairview South that extended the prospect by 600m south of an RC drill hole the company completed to spatially confirm the location of gold mineralisation in advance of a more comprehensive extensional program.

“The gold mineralisation at Fairview South would appear to have a close, and possibly genetic, relationship with logged intermediate and felsic intrusive phases,” Mr Cairns said.

“We are very encouraged by the potential for scale in this style of gold mineralisation [and] the strong gold results from the float rock-chip sampling also demonstrate the potential for high gold grades further to the south.”