Stavely Minerals Limited (ASX: SVY) has discovered a gold prospect at its 100% owned Ararat Project in western Victoria (Figure 1).

Figure 1. Location of Ararat Project

Recent soil geochemical sampling and rock chip sampling at the Cathcart Hill prospect within the Ararat Project has defined an 800 metre long arsenic and chromium anomaly with coincident gold anomalism consistent with a ‘Stawell-style’ gold system.

The Cathcart Hill area was selected for systematic soil sampling because a number of shallow aircore drillholes completed in 1996 returned strong arsenic anomalism to 0.27% arsenic. The company believes the arsenic anomaly was the result of weathering of nearby gold sulphide mineralisation and subsequent lateral dispersion in the weathering profile.

The current soil sample grid will be extended in both directions and a traverse of reverse circulation drilling is being planned.

For further information, visit www.stavely.com.au

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