Stavely Explodes On Positive Exploration Results

Stavely Minerals exploded in the market after announcing outstanding shallow high-grade copper-gold discovery as part of its copper-gold project in Victoria. The stock was up by more than 200% as investors reacted to the news that affirms prospects in the Victoria copper-gold project.

The exceptional results come from a diamond hole SMD050 that targeted high-grade structural controlled mineralization within the ultramafic Contact fault.

In a press release, the company notes that the drill hole intersected a zone of 14.6 meters made up of massive sulphides as well as chalcopyrite bornite and chalcocite at between 79 m and 93.6m of the drill depth. The assay received include 5.88% copper at 32 meters, 1.00g/t gold and 58g/t at 62m.

“Additional mineralized structures are thought to exist without surface expression but are expected to provide a strong conductive response to a ground EM survey which is being designed, also as a priority,” said Stavely Minerals’ Executive Chairman, Chris Cairns.