trending Market Intelligence /marketintelligence/en/news-insights/trending/7NyTI0Qhb7qdi8Dud52Ybg2 content esgSubNav
In This List

Stavely's shares surge on 'stunning' Australian copper-gold discovery

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Stavely's shares surge on 'stunning' Australian copper-gold discovery

Stavely Minerals Ltd. shares had surged over 250% by Sept. 26 ASX trading close after the company reported a "stunning" copper-gold discovery at the Thursday's Gossan prospect within its namesake project in Victoria, Australia.

The first diamond hole at the property intersected a thick zone of shallow mineralization with grades of up to 40% copper, 3 g/t gold and 517 g/t silver over 2 meters.

The company intersected 32 meters at 5.88% copper, 1 g/t gold and 58 g/t silver from a 62-meter down hole and 4.4 meters at 3.98% nickel and 0.23% cobalt from 96.7 meters of drill depth.

Executive Chairman Chris Cairns said, "It's not often in the career of an explorer that you see 40% copper grades over sub-meter intervals, let alone over two meters — and those stunning copper numbers are accompanied by very significant gold and silver values as well."

In 2016, Stavely planned to advance to a scoping study after completing a conceptual study that indicated a positive economic outcome and acceptable rate of return for the Thursday's Gossan prospect.