Stavely wins coveted award

21st February 2020
Resources Rising Stars

Copper explorer Stavely Minerals has been named as the winner of this year’s Craig Oliver Award at the RIU Explorers Conference in Fremantle (reports MiningNews).

Stavely beat out other nominees Image Resources, Alkane Resources, Bellevue Gold and Gold Road Resources.

The award, sponsored by Canaccord Genuity, Western Areas and David Flanagan, is handed out every year to a small to mid-cap Australian resources company that has excelled in all areas.

It is named after the late Sundance Resources and Western Areas director Craig Oliver, who died in a Congo plane crash that claimed the lives of the entire Sundance board.

Stavely managing director Chris Cairns said it was a great honour and privilege to receive the award, and there was an additional personal significance.

"During the campaign against Wayne Swan's infamous Mineral Resources Rent Tax in 2010, I travelled to Canberra with an AMEC delegation to meet with the then-Labor government ministers, Treasury officials and the Liberal opposition to voice our deep concerns," Cairns said today.

"Craig was part of the delegation and the time I spent with him left an indelible impression - his warm and gregarious nature, his incredible grasp of complex issues, his quick wit and his passion for the industry."

Stavely shares went from A24c to as high as $1.36 in a matter of weeks late last year when the company reported a high-grade copper-gold discovery at its Thursday's Gossan project in Victoria.

Cairns said Stavely's resilience and persistence could not be understated.

The discovery hole - which was hole 50 - hit 32m at 5.88% copper, 1 gram per tonne gold and 2 ounces per tonne silver.

"And it came after hole 49, a 1.8km deep diamond hole that took seven weeks to drill, cost in excess of $700,000 and yet came up with absolutely nothing!" Cairns said.

Stavely has four drill rigs operating at Thursday's Gossan, targeting a maiden resource on the Ultramafic Contact Fault.

Cairns announced today the Ultramafic Contact Fault had been renamed as the Cayley Lode after Geological Survey of Victoria senior geologist Ross Cayley.

"I think the phenomenal achievements currently being made across the Australian mining and exploration industry - including some really exciting new discoveries on both sides of the country and the incredible performance of the mid-tier gold sector in recent years - is testament to the industry's tenacity and resilience," he said.


Image: Vertical Events




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