Stavely's Cayley delivers step-out stunner

Exceptionally high-grade grades have been heralded by Stavely Minerals
28th February 2020
Resources Rising Stars

Exceptionally high-grade grades have been heralded by Stavely Minerals, with the company claiming the latest assays from Victoria’s Thursday’s Gossan prospect continue to support an exciting shallow resource in the Cayley Lode (reports MiningNews).

The latest diamond hole, 20m north-west of September's discovery hole, returned 1m at 26.9% copper, 8.48 grams per tonne gold and 201 grams per tonne silver within, 8m at 5.12% copper, 1.48gpt gold and 34.3gpt silver from 121m.

The mineralisation is interpreted as a north-plunging high-grade shoot similar to the discovery hole that returned 32m at 5.88% copper, 1gpt gold and 58gpt silver from 64m.

Drilling further to the north-west intersected a thin zone of zinc, and while not likely to be of economic significance, Stavely said the transition to a more distal zinc-rich mineralisation was additional evidence the Cayley Lode is analogous to the Magma/Butte-style of mineralisation that has not previously been seen in Australia.

Additionally, drilling 200m south-east of the discovery intersected a 75m zone of anomalous mineralisation from 20m, including peaks of 9.23% copper, 2.67gpt gold and 125gpt silver.

The results point to the system having a 1km strike, and remaining open to the south-east and down-dip.

Assays are pending for a further hole that intersected 60m of sulphides, including variable copper, that Stavely described as "likely to become the broadest single intercept on the Cayley Lode to date".


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