Stavely Minerals (ASX:SVY) has intersected encouraging grades of copper-gold-silver mineralisation that confirm the VMS potential of its Ararat Copper‐Gold Project in Victoria.
Notable results included:
- 5 metres at 2.10% copper, 0.56g/t gold, 0.48% zinc and 9g/t silver including 2 metres at 3.37% copper, 0.73g/t gold, 0.47% zinc and 14g/t silver;
- 3 metres at 2.64% copper, 0.17g/t gold, 0.31% zinc and 3g/t silver; and
- 1 metre at 5.89% copper, 0.55g/t gold, 2.31% zinc and 17g/t silver.
An unexpected intercept of gold mineralisation was also returned in the footwall to the expected VMS mineralisation, similar in character to that at the Stawell Gold Mine, comprising a 13 metre interval grading 12 metres at 0.97g/t gold including 3 metres at 3.04g/t gold.
Observed sulphide mineralisation, magnetite and manganese‐rich intervals in reverse circulation drill holes completed into the upper portion of the Carroll’s prospect ground electromagnetic conductor plate has confirmed a highly prospective VMS exhalative environment.
Ararat has an Inferred Resource of 1.2 million tonnes at 2% copper, 0.5g/t gold, 0.4% zinc and 6g/t silver.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.