The Stavely Arc is quite a different geological setting, and the Cayley Lode is in a gossan, not in a skarn. That said, there's a similar thickness to the mineralisation, the gossan has a lot of bornite and a thick chalcocite intersection, and the grades are similar to what the historical average grades are that were mined in our skarns. Both deposits are structurally controlled, and will have enriched dilational jogs throughout the structural web of faults. Stavely also has a blanket of chalcocite-enriched cover that provides rapid money return on mining. We have mining infrastructure already in place, which is as cost effective as a chalcocite blanket. Stavely are going to suffer the problems of kicking off a new mine in Victoria. It's a huge sovereign risk for petroleum explorers, minerals not as bad but given the proximity to the Grampians, they're in for a fight. I don't expect the same kind of overnight 7 bagger from EM2 that Stavely was, we are in brownfields, they had much higher risk greenfields. More discoveries will definitely come out of the Stavely Arc, and the same geology exists under the Jamieson region on the other side of Melbourne so there may be success there soon too, albeit very deep. I'm just glad Arizona USA is super mining friendly, and we will be in a great position when these results flow through in five weeks. We have multiple 6-8 m intercepts of chalcocite and bornite rich rocks, there's gonna be hits in the teens for sure and average grades around 3-5% Cu I reckon, going off of the Stavely similar cores and our historical drilling. Well, I hope it is, although Stavely did have a very long blue bornite rich core from Thursday's Gossan that we haven't seen in Arizona. Mind you our core is dark grey and black from chalcocite, so it's actually better! They have named the Cayley Lode after a geo, we need a local hero geologist to name our monster discovery after. They also need to be beer guzzling reprobate mountaineers with a renegade approach to authority and haircuts like Cayley is, hahahahaha.
EM2 Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
