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Highlights:

  • SVY records 40m at 1.96g/t gold from surface at Fairview South.
  • The company's rock-chip sampling extends gold anomalism up to 600m south of drill-hole SFSRC001
  • Assay results from Fairview North's 7-hole RC program are pending this month.

Stavely Minerals Limited (ASX:SVY) has reported initial assay results from its recent gold-focused reverse circulation (RC) drilling and exploration work at the Fairview South prospect, part of its 100%-owned Stavely Copper-Gold Project in western Victoria. The early-stage results, which include both drilling and rock-chip sampling, indicate a gold-bearing system potentially extending further south than previously confirmed.

A single RC drill-hole (SFSRC001) was completed at the Fairview South prospect. The hole returned an intercept of 40 metres at 1.96 grams per tonne (g/t) gold from surface. Within this broader interval, several higher-grade sections were observed, including 17m at 4.18g/t gold from 9m down-hole. That interval contains 9m at 7.15g/t gold from the same depth, with a standout result of 1m at 49.2g/t gold from 10m depth. The drill-hole was designed to confirm the location of gold mineralisation in advance of a broader follow-up program. Stavely Minerals noted that the mineralisation appears to be associated with intermediate and felsic intrusive rock phases based on geological observations during drilling.

In addition to drilling, reconnaissance mapping and rock-chip sampling were conducted across the area south of the drill-hole. These efforts have extended the interpreted mineralised trend up to 600 metres to the south of SFSRC001. Rock-chip samples collected from float material in this area returned several gold assays above 1g/t. Notable results include:

  • 25.60g/t gold from gossan with boxworks in siltstone
  • 8.79g/t gold from brecciated quartz vein and gossan in altered felsic volcanic rock
  • 4.49g/t gold from brecciated quartz vein and gossan in altered siltstone
  • Other samples ranged from 1.13g/t to 1.78g/t gold, with descriptions suggesting a mix of quartz veining and iron-rich alteration

One specific sample, SSL13562 described as massive gossan with quartz phenocrysts, potentially altered rhyolite returned an assay of 0.41g/t gold. This sample extends the mineralised footprint by another 400 metres beyond the drill-hole SFSRC001. To further define the extent and distribution of gold mineralisation, the company will commence a soil auger sampling program in August. The planned program will feature 80-metre spaced sampling lines and 20-metre sample intervals across the area south of the drill-hole and over zones where rock-chip anomalies were recorded. These geochemical results will be used to guide the design of follow-up RC drilling.

At the Fairview North prospect, located within the same project area, seven RC drill-holes (SFRC005 to SFRC011) were completed in June. These were targeted to clarify the orientation and dip of known gold mineralisation intersected in earlier drilling. Assay results from this program are still pending and expected later in July.

Stavely Minerals is an Australian exploration company focused on copper and gold mineral systems across western Victoria. The Stavely Project includes several advanced prospects, including the Cayley Lode copper discovery and the Fairview gold prospects. The company holds a 100% interest in the tenements encompassing the project area. As the company awaits further results from Fairview North and advances its soil auger and RC drilling activities at Fairview South, the outcomes from these early exploration stages will shape the next phase of target development across the broader Stavely Project.

SVY trading at 35.71% higher at AUD 0.019 per share as on 14 july 2025.