Let's hope SVY attendance at Mines and Money (25th-26th April) is a productive discussion about a Cu-Au Porphyry discovery rather than asking our cornerstone shareholder for more drilling money at a deflated share price.
Stavely Minerals Limited (ASX:SVY) is a mineral exploration company targeting high-grade structurally-controlled copper-gold mineralisation as well as deeper porphyry mineralisation at the Stavely Project, in western Victoria, Australia. In September 2019, Stavely Minerals announced a copper-gold-silver discovery at the Cayley Lode with a drill intercept of 32m at 5.88% copper, 1.00g/t gold and 58g/t silver from 62m drill depth. In June 2022, the Company announced an initial Mineral Resource Estimate for the Cayley Lode mineralisation of 9.3Mt at 1.23% copper, 0.23g/t gold and 7.1g/t silver. The high-grade mineralisation remains open down-plunge.The Cayley Lode is considered to be analogous to the Magma, Arizona or Butte Montana lode-style copper mineralised systems that have a genetic link to causative porphyries. In the case of the Magma copper vein system, it is underlain by the 2Bt at 2.5% copper endowed Resolution porphyry. A recent review of drill data and core by renowned porphyry expert Dr Steve Garwin has concluded that the last few and deepest drill holes following the Cayley Lode copper-gold mineralisation is reflecting a near-porphyry mineral assemblage. A phase of deep diamond drill holes are being completed to test for the causative porphyry. Additionally, a phase of regional exploration has identified a number of additional porphyry / intrusive-related and epithermal discovery opportunities. The management behind Stavely Minerals have a track record of exploration success, project execution and creation of shareholder value with companies such as Integra Mining, Independence Group, Sino Gold, and LionOre.
SVY Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
