Stavely Minerals (ASX:SVY) - Managing Director, Chris Cairns
Managing Director, Chris Cairns
Source: Sydney Mining Club
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  • Stavely Minerals (SVY) shares are trading in the green on the back of a new round of drill results from the company’s ongoing campaign within its CopperGold Project in Victoria
  • The ASX-lister is in the advanced stages on an ongoing drilling campaign at the project ahead of a mineral resource estimate later this year
  • Results include 22.8 metres at 2.27 per cent copper, 0.38 grams of gold per tonne (g/t) and 19g/t silver from 247 metres
  • The company believes it is on the cusp of revealing a new porphyry province in western Victoria
  • Stavely Minerals shares closed up 18.8 per cent to trade at 47.5 cents on July 26

Stavely Minerals (SVY) shares are trading in the green on the back of a new round of drill results from the company’s ongoing campaign within its CopperGold Project in Victoria.

The company is undertaking an “intensive” resource drill-out within the Cayley Lode discovery at Thursday’s Gossan prospect in a bid to extend the deposit to the south-east and at depth.

Stavely said it was looking to complete infill drilling prior to the onset of winter rains and to fill gaps in the drilling for its maiden mineral resource estimate, which is tipped to be complete for the end of the year.

Notable results include 22.8 metres at 2.27 per cent copper, 0.38 grams of gold per tonne (g/t) and 19g/t silver from 247 metres, including three metres at 6.86 per cent copper, 1 g/t gold and 11 g/t silver.

Stavely Minerals said the drill out was well advanced and believed it was on the cusp of revealing a new porphyry province in western Victoria

Stavely Minerals shares closed up 18.8 per cent to trade at 47.5 cents on July 26.

SVY by the numbers
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