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Stavely Minerals (ASX:SVY) has announced the detection of visual copper mineralisation from its recent aircore drilling program at the Junction prospect in Victoria. The drilling, which comprised 20 holes, revealed several occurrences of visual copper oxide minerals, including azurite and malachite, as well as copper sulphides such as chalcopyrite, covellite, and chalcocite.
In the near-surface intervals, azurite and malachite copper oxides were commonly observed, alongside secondary chalcocite coatings on fracture surfaces. Deeper intercepts were characterized by the presence of early-stage quartz-pyrite and later-stage chalcopyrite with distinctive covellite coatings. The later copper sulphides of chalcopyrite and covellite often appeared in re-activated structural positions alongside quartz-pyrite, although in some instances, chalcopyrite and covellite were found without quartz-pyrite.
Drilling and rock-chip samples have been sent to the laboratory for assay testing, with results anticipated by the end of the month. Following the receipt of assay results, Stavely plans to initiate a deeper diamond drilling campaign to explore the depth extent of the well-defined copper mineralisation at the Junction prospect.
This drilling program was designed to address and build upon results from previous exploration efforts at Junction. Historical drilling results have shown significant copper intercepts, including 35 meters at 3.44% copper and 26 grams per tonne silver from 24 meters, 11 meters at 1.72% copper and 26 grams per tonne silver from 33 meters, and 6 meters at 2.15% copper and 8 grams per tonne silver from 2 meters. These historical results indicate the presence of substantial mineralisation, but also highlighted the need for further exploration to confirm structural orientations and delineate mineralised zones.
The spatial distribution of these historical intercepts, coupled with the presence of multiple intercepts in several historic holes, suggests the potential for several mineralised structures within the broader zone. The Junction prospect is situated approximately 2 kilometers south of the Cayley Lode deposit, which boasts a mineral resource estimate of 9.3 million tonnes at 1.23% copper, 0.23 grams per tonne gold, and 7 grams per tonne silver.
The upcoming diamond drilling program is expected to provide further insights into the depth and extent of copper mineralisation at Junction, advancing the understanding of the prospect’s potential and contributing to future exploration strategies.
