Stavely

Well well well,

Anyone bothered to read through all the pertography reports clearly?

Anyone who did would realise this thing is NOT a high-sulphidation vein system as they purport.
Several months ago, after the initial euphoria was reported, with words like covellite, enargite, arsenic, high-sulphidation (HS), never-before-seen-in-Australia, Magma (Arizona), Butte (Montana)..... I emailed the company asking for clarification on the levels of arsenic (As) and the confirmation (either by petrography, or by mincroprobe (SEM-EDAX), XRD.... there are many techniques, but above all if it is significant, the elemental values of As & Cu will be in percentage levels not just a few ppm.

Well, I never got an answer. No surprises because was there ever any confirmation through an PR's either. So they had their chance, now I'm putting this out there so all you investors can make some better informed decisions. ASIC/ASX needs to demand clarification on what conclusive proof they have on this story back up the claims of high sulphidation and advanced argillic alteration by hard conclusive and quantitatve results.

I've just read through the report on 52 petro graphic samples. Even the petrologist would not be drawn on the conclusive assemble. He states "while it appears thge moineralisation formed in oxidising environments.... in relation to the advanced-argillic alteration he says "while there are analogies to Magma and butte, the presence of pyrophyllite could not be resolved. Instead he says it could not be resolved from sericite and silicification. BAHHHHH, HUMBUG.
If this was a high sulphidation system of any means the place would be flooded with alunite and pyrophyllite, there would be woodhousite present, the sblanket surrounding the alunite-pyrophyllite would be a huge dicite halo. The fact is, none ot this exist.

What is clear is silica-sericite alteration,. Basicaly a type od alteration that accompanies, well - Every type of hydropthermal alteration system you will ever see. Diagnostic of nothing more than hydrothermal alteration.

As for the presence of covellite, another HS mineral diagnostic is quantitly, and large bladed form. Well, there are trace amounts associated with bornite - no surprise there. On the summary desctiption it refers to most of this as secondary (replacement), then trying to keep the story alive there is a contradictory statement saying it is not supergene; the inference is to it being primary, but not clearly stating that it isn't somehow still a product of hydrothermal modification.

Bornite: is common as its associated silicification, sericite alteration, even epidote alteration in just about any rocks with copper in them you care to name, especially if there is some mafic componenet around. In the Orange sistrict od NSW, there are basalts with blebby bornite all through them, infilling vesicles, lots of other alteration minerals that are associated with oxidising envirnoments are also present - like epidote. The alteration mineralogy tells you the nature of the environment, just as the potential ore mineralogy does.

As - well, yes there is - they mention gersdorffite. A nickel arsenic sulhide common in almost all magnetic nickel sulphide ores. Common in some epithermal/vein systems in eastern Europe too (from where it's name is derived, and the type locality, in Austria). In that geological setting, gersdorffite is formed in hydrothermal vein systems formed at moderate temperates. THis is NOT the story being portrayed at Stavely or even alluded to as a possibility.

Somehow this doesn't stack up. I was an investor, I bailed when the assays that are absolutely crucial to support the ideas - open disclosure - arsenic and copper and nickel of all the intersections reported - were not forthcoming.

I'd love to believe the story, and I did for a start, excited by it's possibilities, but several onths have gone by and there is no hard evidence to support the ideads. I've worked on all epithermals types (low- intermediate-, high - sulphidation), and porphyries is about 20 countries. Love the idea, and we need a new groundbreaking porphyry strike in Australia,but the reality is something different.