Victorian Copper

Stavely Project Prospects

Stavely Project

The Stavely project, located south of the Grampians National Park and about 40 kilometres south-west of the Ararat project, covers 730 square kilometers in western Victoria.

Current exploration is focused on locating copper and gold mineralisation along an approximately 10 kilometres long, north-west trending, structure. A low-level, high-resolution, aeromagnetic and radiometric survey over this structure identified several fault structures, potentially linked to primary mineralisation, at Thursdays Gossan and Fairview.

All three vertical aircore holes drilled in 2010 on the margins of the Thursdays Gossan Chalcocite (TGC) copper deposit intersected mineralisation, with 42m at 0.8% copper in SAC030 located 40m east of the current resource boundary. Further aircore drilling at the TGC deposit is planned for the March 2012 Quarter. Three diamond drillholes were also drilled at Thursdays Gossan, Yarram Park and Patanga (with the latter two funded 50% by the Victorian Government). A previous diamond drillhole, SNDD001, intersected 7.7 metres at 4.2% copper within massive sulphides beneath the supergene blanket at Thursdays Gossan.

The Junction 1 copper prospect is located approximately 3 kilometres south-east of the TGC copper deposit, whilst the Drysdale and Junction 3 copper prospects occur immediately south of the Thursdays Gossan deposit. Any additional mineralisation outlined at these prospects should add to the inferred resource already defined for the TGC copper deposit.

Flat Plains of the Stavely Project with the Grampians National Park in the Background