Ann: Second Thick Zone of Bornite at Thursday's Gossan, page-69

From 7th July 2017

https://www.resourcesrisingstars.com.au/news-article/stavely-results-dangle-carrot-big-victorian-copper-find


”Cairns knows what porphyry rocks look like courtesy of a stint in the Philippines back in his early years. The topography there means it is possible to view a porphyry system created from deep within the bowels of the earth at creek level, then climb to the top of the mountain to view the high level of alteration sitting on top.

Hosting a near-surface blanket of secondary enriched mineralisation with a resource estimate of 28 million tonnes grading 0.4 per cent copper for 110,000 tonnes of contained copper, Thursday’s Gossan went on to be a key asset in Stavely’s 2014 float.

But not for the supergene copper as it turned out. During a rummage through the core shed by Cairns ahead of the deal with BCD, he came across a broad interval of a particular type of rock alteration, which he immediately recognised from his experience in the Philippines.

It was the sort of thing he had seen all those years before on mountain tops in the Philippines, indicating that there could be a porphyry intrusion at depth driving the copper/gold mineralisation at Thursday’s Gossan. And that has been what Cairns has been out to prove ever since Stavely joined the lists.

Cairns reckons that he might just be about there after latest drilling at Thursday’s Gossan, suggesting Stavely is “now closing in on a major discovery”.

Strong porphyry-style copper/gold mineralisation was returned from the reverse circulation drill holes and several ended at the point of refusal in mineralisation. The headline result was 24m at 0.64% copper and 1.2 grams a tonne gold (the copper grade is better than the global average for all copper mines of 0.62%).

Assay results from some diamond “tails” drilled from the bottom of the RC holes are pending. Visually at least, they are said to be “very encouraging.”

Let’s hope he can can recognise them as well as inferred here.