Stavely Minerals Limited (ASX:SVY) Announces Exploration Progress
Exploration Achievements
Stavely Minerals Limited (ASX:SVY) has reported significant progress in its exploration activities across its copper and nickel projects. The company highlighted impressive assay results from recent aircore drilling at the Junction Prospect, where findings included 14m at 3.24% Cu and 34.5g/t Ag. The results signal the potential for high-grade copper mineralisation, making gaining access for further drilling a priority.
Project Developments
The Cayley Lode at the Stavely Project has been identified as holding a high-grade copper-gold-silver resource. The current estimate stands at 9.3Mt at 1.23% Cu, confirming its potential as a substantial mining asset. Additionally, the S41 breccia-hosted gold prospect shows promise, with only one diamond drill hole completed, indicating further exploration opportunities.
Nickel Project Advancements
The Hawkstone Ni-Cu-Co Project is also gaining traction, situated in an emerging magmatic nickel province. Stavely has carried out comprehensive surveys, establishing a fertile region for discovering magmatic nickel sulphides. The company intends to follow up these findings with further drilling activities in the upcoming field season.
Future Outlook
Stavely Minerals aims to advance its projects through continued exploration activity, including diamond drilling and geophysical surveys, to discover more high-value assets.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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