Stavely Minerals Exploring Copper Deposits in Victoria

The Herald Sun reported today that while the state of Victoria in Australia has been explored extensively for gold, there has been little deeper exploration for copper. According to the Sun, geologists believe that shallow copper finds in the west of the state may be indicative of deeper porphyry deposits, and Stavely Minerals (ASX:SVY) is in the midst of mineral explorations in the area.

As quoted in the press release:

On existing drilling Thursday’s Gossan has an inferred resource estimate of 28 million tonnes at 0.4 per cent copper, but if the porphyry theory holds that could be just a surface blanket. Stavely has another iron in the fire in the form of a project at Mount Ararat which already holds an inferred resource of 1.2 million tonnes grading 2 per cent copper, with precious and base metals present as well.

Click here to read the full Herald Sun article.