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Copper and gold explorer Stavely Minerals has raised $8.3 million via a share placement and share purchase plan, with the company completing drilling programs at a number of tenements on the east coast.
Stavely Minerals (ASX:SVY) has been granted a trading halt by the ASX, as the company prepares to reveal exploration results.
Stavely Minerals (ASX:SVY) has intersected a significant wide zone of strong gold mineralisation in a recently completed diamond drill hole at its Stavely Project in western Victoria.
The halt will remain in place until the opening of trade on Thursday 10th November 2016, or earlier if an announcement is made to the market.
Mines and Money Australia is free for investors to attend. To apply for your free investor pass, click here: http://imarcmelbourne.com/investors/ To download the full programme, click here: http://imarcmelbourne.com/download-programme/ Mines and Money Australia is the country's largest mining investment forum held during the International Mining and Resources Conference (IMARC). IMARC will take place from Monday, 7th to Thursday, 10th November 2016 at the Melbourne Convention & Exhibition Centre.
Stavely Minerals Ltd (ASX:SVY) will soon commence a scoping study at the Thursday’s Gossan copper deposit, part of its Stavely Copper-Gold Project in Western Victoria, after receiving encouraging results from a conceptual study. The chalcocite-enriched supergene blanket at Thursday’s Gossan hosts 110,000 tonnes of copper in 28 million tonnes of inferred resources averaging 0.4% copper. The key elements of the conceptual study included a mining and processing rate of about 2 million tonnes per annum for eight years at an average feed grade of 0.
The majority of scoping studies presented by exploration companies to the ASX are of questionable quality, a new analysis has found, as industry players debate potential solutions to the controversy over disclosure standards.