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Potential Discovery of a Copper Porphyry Shaping Up

Stavely Minerals Ltd (ASX: SVY)

Exploration Results: Follow-up air-core drilling at the Toora West prospect, ~15km north-west of Thursday’s Gossan, has returned further strong indications of an underlying copper porphyry system. In March 2021, Stavely Minerals completed a first-pass 32-hole air-core drilling program at Toora West. The program was designed as wide-spaced reconnaissance drilling on 400m spaced lines and 200m collars on the lines. Based on the visual observations of chalcopyrite, secondary chalcocite and molybdenite sulphide mineralisation in three holes, a further 18 follow-up holes were completed. Assay results have now been received for the follow-up program:

STWAC033

  • 1m at 0.21% Cu from 32m down-hole
  • 1m at 0.12% Cu from 37m and
  • 3m at 0.25% Cu and 1.45 g/t Ag from 45m

STWAC037

  • 5m @ 0.22% Cu from 33m, incl. 2m @ 0.38% from 33m and 1m at 0.22% Cu from 45m (to end-of-hole)

STWAC040

  • 1m at 0.44% Cu and 1.51 g/t Ag from 55m down-hole

STWAC041

  • 1m at 20.4 g/t Ag from 37m down-hole
  • 1m at 0.14% Cu and 198 ppm Mo from 44m

To put these shallow air-core results in context, it’s worth recounting the early history of the discovery of the world-class Northparkes porphyries in NSW. 

“Auger-core drill hole ACH697-21, drilled on Avadale Lane by Geopeko intersected pink K-feldspar alteration and minor chalcopyrite-bornite mineralisation in 2m of core, assaying 0.25% Cu. Follow-up RAB drilling defined a large Cu-Au anomaly and in 1977 a diamond hole was drilled beneath the peak of the anomaly, returning 229 metres at 0.61% Cu and 0.67g/t Au from 65m.” *

* The Discovery History of the NorthParkes Deposits, Lye et al, 2015




 

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