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Stavely Minerals (ASX:SVY) - Executive Chairman & Managing Director, Chris Cairns
Executive Chairman & Managing Director, Chris Cairns
Source: Business News
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  • Stavely Minerals (SVY) has laid plans for a new regional exploration initiative across its wholly-owned namesake copper-gold project in Victoria
  • The explorer is looking to build further long-term opportunities within the emerging and relatively underexplored province
  • Geophysical exploration is set to begin at the project this week and take a further two to complete should it go as planned
  • A mineral resource definition drill-out is also underway in hopes of extending the deposit within the overall 1.5-kilometre-long discovery zone
  • Stavely Minerals is trading flat at 74 cents per share

Stavely Minerals (SVY) has laid plans for a new regional exploration initiative across its wholly-owned namesake copper-gold project in Victoria.

The programme is aimed at building the explorer’s long-term growth pipeline of exploration opportunities across the emerging west Victorian copper-gold-silver province.

A 7500-line-kilometre Falcon gravity gradiometer is set to be mobilised at the project this week by the company’s chosen geophysical contractor to conduct a survey spanning 1461 square kilometres.

Weather permitting, the survey is expected to take approximately two weeks to complete.

Alongside existing regional aeromagnetic datasets, the findings are hoped to provide a long-term baseline reference point to support exploration efforts at the relatively untouched “emerging” mineral province.

A mineral resource definition drill-out of the Cayley Lode copper-gold-silver
discovery is underway in a bid to extend the deposit to the northwest
within the overall 1.5-kilometre-long discovery zone.

“As a dedicated explorer, the importance of acquiring the strategic fundamental datasets that will underpin years of ongoing exploration in this emerging copper province cannot be overstated,” Stavely Minerals’ Executive Chairman, Chris Cairns, commented.

“The gravity data easily ‘sees through’ the shallow transported cover endemic to the region that otherwise obscures much of the basement geology,” he added.

Stavely Minerals is trading flat at 74 cents per share at 2:02 pm AEDT.

SVY by the numbers
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