- Stavely Minerals (SVY) has requested back-to-back trading regarding a capital raise announcement
- The halt will remain in place until July 27 or when the announcement is released, whichever occurs first
- Just last week, Stavely intersected significant new assays from an ongoing drilling program at the Thursday’s Gossan prospect in Victoria
- So far, results have peaked at 7.86 per cent copper, 2.09 grammes per tonne gold, and 88 grammes per tonne silver
- The company is now aiming to deliver a maiden JORC mineral resource estimate
- Shares in Stavely last traded for 67 cents each on July 20
Stavely Minerals (SVY) has requested back-to-back trading regarding a capital raise announcement.
The halt will remain in place until July 27 or when the announcement is released, whichever occurs first.
Last week, Stavely intersected significant new assays from an ongoing drilling program at the Thursday’s Gossan prospect in Victoria.
The aim of this program is to outline high-grade, near-surface copper-gold-silver mineralisation at the Cayley Lode as well as deliver a maiden JORC mineral resource estimate.
So far, the company has intersected significant results, including; 9.7 metres at 3.1 per cent copper, 0.97g/t gold, and 26g/t silver from 271 metres, including two metres at 7.86 per cent copper, 2.09g/t gold, and 88g/t silver.
The mineral resource estimate is expected to be released in the second half of the year.
Stavely last entered a trading halt in October last year ahead of a $19.6 million capital raising.
The company stated it would use the funds to speed up gold and copper-gold exploration in western Victoria, Tasmania, and Queensland.
Shares in Stavely last traded for 67 cents each on July 20.