Indications of 'world-class' potential at Stavely's Thursday's Gossan: Hartleys

Based on work-to-date, Perth-headquartered capital markets firm Hartleys has estimated a potential initial resource for Stavely Minerals’ Thursday Gossan discovery in Victoria
17th January 2020
Resources Rising Stars

Based on work-to-date, Perth-headquartered capital markets firm Hartleys has estimated a potential initial resource for Stavely Minerals’ Thursday Gossan discovery in Victoria, a prospect it believes has hallmarks of being world-class (reports MiningNews).

Hartleys believes early stage copper mining inventory of plus-12-15 million tonnes at a "good grade" of 2.5-3% copper equivalent is possible, "however the true ‘size of the prize' may take some time to crystallise".

In the analyst note published just before Christmas, Hartleys also said the style of mineralisation, the sulphide zonation and the spatial extent has drawn early comparison with the epithermal polymetallic deposits of Butte (Montana) and Magma (Arizona), "though the economic veracity is still to be determined".

On the latter it also noted the presence of chalcocite highlighted supergene enrichment, "which could have large economic ramifications for upper parts of the deposit (upper 80-100m)".

The capital markets firm further suggested the prospect "could have world class potential".

Whether ASX-listed copper miners and M&A players such as OZ Minerals and Sandfire Resources concur with such sentiments isn't known.

Hartleys was involved as co-manager of the A$19.6 million fund raising undertaken by Stavely in October last year when new shares were issued at $1 each.

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