Stavely Minerals Limited (SVY) has completed a 506.8-metre diamond drill hole, STDD0002, at the Freddy's Find prospect within its 100%-owned Stavely project in western Victoria. The hole was designed to test beneath shallow gold-silver intercepts identified in previous reverse circulation drilling, which had previously returned multiple zones including 16 metres at 1.09g/t gold equivalent. The new diamond drilling has confirmed the geological presence of a low-sulphidation epithermal system, with geologists identifying sulphide mineralisation phases at depth that suggest the upper portions of a broader hydrothermal system.

While the company has logged several zones of sulphide mineralisation, it cautioned that these are not necessarily correlated to precious metal grades. Laboratory assay results are expected within approximately one month, which will provide necessary detail on the system’s potential. This program marks a significant progression from the company's 2025 reconnaissance work, which relied on wide-spaced collar intervals to penetrate roughly 50 metres of younger basalt cover.

"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."

— Chris Cairns, Chair and Managing Director

Following these initial findings, the company plans to initiate a reconnaissance program of 10 to 12 reverse circulation holes. This upcoming work aims to evaluate the strike extent at Freddy's Find while testing a large-scale porphyry target to the south-west and a previously undrilled look-alike target to the west. Meanwhile, the company is concurrently finalising a scoping study for copper-gold-silver production from its separate Thursday's Gossan and Cayley Lode assets, which it expects to release in the coming weeks.

Read the full announcement: Diamond Drilling Completed at Freddy's Find