Stavely Minerals Limited reported further drilling results from the Thursday's Gossan prospect, part of its 100%-owned Stavely Copper-Gold Project, located in Western Victoria. Recent drilling at Thursday's Gossan has been designed to follow up on previous porphyry M vein intercepts below the Low-Angle Structure (LAS) in drill holes SMD017 and SMD024 and to test magnetic features that may reflect the presence of M (magnetite) veins or disseminated magnetite associated with copper-gold mineralisation. The drilling is aiming to progress into the hotter part of the mineralised system, where higher-grade copper and significantly higher-grade gold are expected to be located. Assay results have been received for drill holes SMD025, SMD035, SMD036 and SMD041. These holes were located to target the porphyry M veins intersected previously in SMD017 and SMD024 on the next drill sections to the south of the section being reported. Assay results from diamond hole SMD025 have returned wide, low-grade copper mineralised intervals, including: 35m at 0.16% copper from 173m drill depth; and 46m at 0.14% copper from 288m drill depth. The interval of 35m at 0.16% copper is hosted in sandstone with disseminated hydrothermal magnetite, pyrite and chalcopyrite. It is observed in other drill hole intercepts that the mineralising fluids were able to travel significant distances in the more porous sandstone units and consequently these intercepts may not be a reliable indication of proximity to the porphyry source. The second interval of 46m at 0.14% copper is hosted in the high-phosphorous micro-diorite with fine disseminated bornite mineralisation. The high-phosphorous micro-diorite is considered, along with the micro-diorite porphyry and the quartz diorite porphyry (QDP), to be an early pre-mineralisation intrusive phase associated with the main porphyry emplacement and subsequent copper-gold mineralisation event. Assay results from diamond hole SMD035 have also returned strong intervals of copper- gold mineralisation: 39m at 0.31% copper from 363m drill depth, including: 5m at 1.10% copper and 0.15g/t gold from 364m drill depth. Similar to SMD025, the mineralised interval below the LAS in SMD035 is hosted in the high-phosphorous micro-diorite and the high-grade interval of 5m at 1.10% copper and 0.15g/t gold at the top of the mineralised interval is likely on a portion of the North-South Structure (NSS). Assay results from diamond hole SMD036 have also returned strong copper-gold mineralisation: 13m at 0.45% copper from 551m drill depth, including: 2m at 1.73% copper and 0.20g/t gold from 552m drill depth. Again, the high-grade interval of 2m at 1.73% copper and 0.20g/t gold at the start of the mineralised interval is hosted on the NSS. Assay results from diamond hole SMD041 have also returned copper-gold mineralisation /anomalism: 32m at 0.16% copper, and 14m at 0.10% copper and 0.12g/t gold. The mineralised interval 32m at 0.16% copper also commences on the NSS and is hosted by a hydrothermal breccia with clasts of sandstone, mudstone and potassic altered dacite porphyry with quartz veins. The interval of 14m at 0.10% copper and 0.12 g/t gold is associated with weakly developed anhydrite-pyrite ± chalcopyrite ± magnetite veins hosted in sandstone on the contact with the dacite porphyry. Of note is that drill holes on the sections to the south all host mineralisation on the low-angle structure (LAS) but none of holes SMD025, SMD035, SMD036 or SMD041 on this section host mineralisation on the LAS. The implication is that ascending mineralising fluids from a porphyry source at depth did not enter the LAS on this northern section. However, holes SMD035, SMD036 and SMD041 all do host copper and high-grade copper- gold mineralisation on the NSS. The implication is that on this northern section, copper-gold mineralising fluids were ascending along the NSS ­ probably near the northern-most extent of the system. Of further note is that drill hole SMD028, on the next section to the south, also hosted mineralisation on the NSS with a broad interval of mineralisation of 73m at 0.32% copper and 0.13g/t gold from 577m commencing with a high-grade interval of 6m at 1.12% copper and 0.44g/t gold. Below the LAS and east of the NSS, SMD028 returned the following intercepts: 73m at 0.32% copper and 0.13g/t gold from 577m, including: 6m at 1.12% copper, 0.44g/t gold and 12g/t silver from 577m; 4m at 0.98% copper, 0.30g/t gold and 7.3g/t silver from 620m; and 12m at 0.51% copper, 0.32g/t gold and 4.9g/t silver from 638m. The higher-grade intercept of 6m at 1.12% copper and 0.44g/t gold at the top of the broader interval is also likely part of the NSS.