Stavely Minerals Limited (ASX:SVY)
Stavely Minerals Limited (ASX:SVY) is a mineral resource company currently focused on the exploration and development of the Stavely copper-gold-silver Project in western Victoria.
In September 2019, Stavely Minerals discovered shallow, high-grade, structurally controlled copper-gold-silver mineralisation the Cayley Lode at the Thursdays Gossan prospect on RL2017. The Cayley Lode shows some strong similarities with the Butte (Montana) and Magma (Arizona) deposits.
The key elements of Stavely Minerals current strategy are as follows:
Drill test the strike and down-plunge extensions of the Cayley Lodes, as well as other lodes, and untested new targets.
Continue the two phase mineral resource definition drilling on the Cayley Lode
Phase 1: open pit mineral resource (0 200m)
Phase 2: mineral resource on lodes extent at depth
Phase 3. Progress the development studies based on a growing mineral resource inventory
Phase 4. Pursue exploration for the copper-gold porphyry at depth
If successful the key outcome will be a globally significant copper project based on the Cayley Lode mineralisation and potentially a world class deposit if the underlying porphyry copper source is located.