The company is drilling diamond hole STDD0002 to a planned depth of 350m to 500m behind reverse circulation (RC) hole STRC0132, which returned significant epithermal gold-silver mineralisation earlier this year.
STRC0132 delivered 16m @ 1.09 grams per tonne gold equivalent from 46m, including 7m @ 1.94g/t gold equivalent from 53m and 4m @ 2.31g/t gold equivalent from 56m.
The hole also intersected 16m @ 1.21g/t gold equivalent from 113m, including 4m @ 2.05g/t gold equivalent from 125m.
Drilling confirmed a large hydrothermal breccia system measuring approximately 2km by 750m, with widespread intense alteration and sulphide mineralisation over intervals exceeding 100m.
“We believe that the scale of the opportunity for a material epithermal gold-silver discovery at Freddy’s Find and the surrounding area is immense, particularly given the massive volume of the target area coupled with the demonstrated presence of epithermal gold and silver in the system,” Managing Director Chris Cairns says.
The current program will test identified broad intervals of gold-silver mineralisation at depth to establish potential for a large porphyry system. Follow-up RC drilling will tighten spacing around STRC0132 to 80m intervals.
Stavely will also test the S4 prospect, a large gravity low southwest of Freddy’s Find similar in size to the Thursday’s Gossan area.
Historical aircore drilling highlighted anomalous geochemistry consistent with a porphyry system, including gold, sulphur, molybdenum, arsenic, antimony, zinc, and lead.
Stavely plans 10 to 12 RC holes to test these early-stage opportunities. If successful, the S4 target could merge with Freddy’s Find to create a larger multi-phase porphyry complex.
The Freddy’s Find prospect sits within the Cambrian Stavely Arc in western Victoria, covered by 50m to 80m of Newer Volcanic Group basalt.
