# SVY: Alternative Development Scenarios for Thursday's Gossan Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03151607 Publisher: asx Original announcement: 2026-10-12T22:48:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-12T23:22:29.007Z Atlas analysis updated: 2026-10-12T23:22:29.007Z - Company: Stavely Minerals Limited - Ticker: SVY - Exchange: ASX - Region: Western Victoria - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Other, Resource update - Extracted: 2026-10-12 23:22:29 UTC Narrative sentiment: 0.10 · Bullish ## Minestarters Atlas summary Stavely Minerals is initiating studies to evaluate alternative development scenarios for its Thursday's Gossan copper-gold-silver deposit, including small-footprint underground, hybrid open pit/underground, and heap leaching options. This strategic move aims to optimize the project's development pathway, reduce capital expenditure, and potentially simplify permitting, following a Scoping Study that indicated a high CAPEX for the previously considered large-scale open pit. The company seeks to provide comparative information on these options to assess capital efficiency, processing rates, and revenue, ultimately aiming to maximise shareholder value. Reasoning: Stavely Minerals is investigating alternative development scenarios for its Thursday's Gossan copper-gold-silver deposit to optimize the development pathway, reduce capital expenditure, and potentially improve permitting and community support, following a Scoping Study that highlighted a large CAPEX for the initial large-scale open pit option. This strategic re-evaluation is a positive step towards de-risking the project, despite potentially lower NPVs for the alternatives. - Positive factor: Company is actively exploring options to optimize project economics and reduce capital intensity - Positive factor: Potential for simpler permitting pathway and increased community support with alternative scenarios - Positive factor: Focus on maximizing shareholder value from a high-quality asset - Negative factor: Implies the initial large-scale open pit scenario had a high capital expenditure that might be challenging to fund - Negative factor: Alternative development options are likely to have lower NPVs compared to the initial large-scale open pit Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 56 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides updated Mineral Resource Estimates for Thursday's Gossan in tables 1, 2, and 3. Evidence · text > Table 1. Thursday’s Gossan Total Mineral Resources Estimate \(includes the Cayley Lodes, Chalcocite Blanket, Low-grade domains and Cayley UG\). **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The report states that Mr Chris Cairns, a Fellow of the Australian Institute of Geoscientists and a Fellow of the Australasian Institute of Mining and Metallurgy, is a Competent Person and consents to the inclusion of the information. Evidence · text > The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Chris Cairns, a Competent Person who is a Fellow of the Australian Institute of Geoscientists and a Fellow of the Australasian Institute of Mining and Metallurgy. **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Competent Person is defined as per the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ \(JORC Code\). Evidence · text > qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. **Metal Equivalent Opaque** Polarity: negative Story-specific tag Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Why it applies: The metal equivalent calculations are provided with recovery assumptions, but specific price assumptions are not explicitly stated in the main body or footnotes for the CuEq formula. Evidence · text > The CuEq equations are Cu + \(Au x 0.482\) + \(Ag x 0.015\) for the material in the transitional zone and/or chalcocite blanket; and Cu + \(Au x 0.872\) + \(Ag x 0.014\) for primary mineralisation. The CuEq calculations assume 83%, 32% and 77% recoveries in the transition/chalcocite material for Cu, Au and Ag respectively and 86%, 60% and 73% recovery in the primary material for Cu, Au and Ag respectively. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades for both open pit and underground material are clearly stated in the footnotes of the resource tables. Evidence · text > Reported at copper equivalent \(CuEq\) cut-off grades of 0.2% for open pit material and 0.7% for underground material. ## Extracted facts Stored fact records: 49. Some facts used in scoring do not have a stored record. ## Resource Estimates (49) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-7) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:d32c2d44fc95217bd17a - Deposit or zone: In-Pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 0.49 - Grade Unit: % - Contained Metal: 150 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.62 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 32 Mt at 0.49% copper \(0.62% CuEq\) in the in-pit area represents a substantial and well-defined portion of the overall resource, providing a strong basis for economic studies. - Positive factor: Significant indicated tonnage provides a solid foundation for project development - Positive factor: Resource is 100% owned by the company Evidence · table > 0.49 Context: 32 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-8) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:d32c2d44fc95217bd17a - Deposit or zone: In-Pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 102 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 32 Mt at 0.10 g/t gold in the in-pit area provides a valuable gold credit, enhancing the overall economic potential of the project. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.10 Context: 32 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-9) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:d32c2d44fc95217bd17a - Deposit or zone: In-Pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 3.3 - Grade Unit: g/t - Contained Metal: 3400 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 32 Mt at 3.3 g/t silver in the in-pit area provides a valuable silver credit, further enhancing the overall economic potential of the project. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 3.3 Context: 32 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-10) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:3ef144add978f009cb97 - Deposit or zone: In-Pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 27000000 - Grade: 0.31 - Grade Unit: % - Contained Metal: 83 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.38 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 27 Mt at 0.31% copper \(0.38% CuEq\) in the in-pit area contributes to the overall resource base, but its lower confidence category means further drilling is required to upgrade it. - Positive factor: Significant inferred tonnage adds to the overall resource potential - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.31 Context: 27 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-11) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:3ef144add978f009cb97 - Deposit or zone: In-Pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 27000000 - Grade: 0.05 - Grade Unit: g/t - Contained Metal: 42 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 27 Mt at 0.05 g/t gold in the in-pit area adds to the overall gold endowment, but its lower confidence category requires further work for upgrade. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.05 Context: 27 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-12) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:3ef144add978f009cb97 - Deposit or zone: In-Pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 27000000 - Grade: 1.9 - Grade Unit: g/t - Contained Metal: 1600 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 27 Mt at 1.9 g/t silver in the in-pit area adds to the overall silver endowment, but its lower confidence category requires further work for upgrade. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.9 Context: 27 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-13) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:f7cd3f76dd9c27dc5a4e - Deposit or zone: Underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1600000 - Grade: 1.3 - Grade Unit: % - Contained Metal: 21 - Contained Unit: kt - Cutoff Grade: 0.7 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 1.6 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred underground resource of 1.6 Mt at 1.3% copper \(1.6% CuEq\) represents a high-grade component that could be targeted in alternative development scenarios, but requires further drilling to improve confidence. - Positive factor: High-grade underground resource provides potential for selective mining - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.3 Context: 1.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-14) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:f7cd3f76dd9c27dc5a4e - Deposit or zone: Underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1600000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred underground resource of 1.6 Mt at 0.20 g/t gold provides a gold credit, but its lower confidence category requires further work for upgrade. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.20 Context: 1.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-15) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:f7cd3f76dd9c27dc5a4e - Deposit or zone: Underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1600000 - Grade: 4.6 - Grade Unit: g/t - Contained Metal: 230 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred underground resource of 1.6 Mt at 4.6 g/t silver provides a silver credit, but its lower confidence category requires further work for upgrade. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 4.6 Context: 1.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-16) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:a92fbb8cad38323a6b16 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 0.49 - Grade Unit: % - Contained Metal: 150 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.62 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total indicated resource of 32 Mt at 0.49% copper \(0.62% CuEq\) represents a substantial and well-defined portion of the overall resource, providing a strong basis for economic studies. - Positive factor: Significant indicated tonnage provides a solid foundation for project development - Positive factor: Resource is 100% owned by the company Evidence · table > 0.49 Context: 32 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-17) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:a92fbb8cad38323a6b16 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 102 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total indicated resource of 32 Mt at 0.10 g/t gold provides a valuable gold credit, enhancing the overall economic potential of the project. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.10 Context: 32 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-18) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:a92fbb8cad38323a6b16 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 3.3 - Grade Unit: g/t - Contained Metal: 3400 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total indicated resource of 32 Mt at 3.3 g/t silver provides a valuable silver credit, further enhancing the overall economic potential of the project. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 3.3 Context: 32 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-19) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:36e0f4f8845fa171e038 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 28000000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 100 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.45 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total inferred resource of 28 Mt at 0.37% copper \(0.45% CuEq\) contributes to the overall resource base, but its lower confidence category means further drilling is required to upgrade it. - Positive factor: Significant inferred tonnage adds to the overall resource potential - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.37 Context: 28 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-20) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:36e0f4f8845fa171e038 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 28000000 - Grade: 0.06 - Grade Unit: g/t - Contained Metal: 52 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total inferred resource of 28 Mt at 0.06 g/t gold adds to the overall gold endowment, but its lower confidence category requires further work for upgrade. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.06 Context: 28 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-21) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:36e0f4f8845fa171e038 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 28000000 - Grade: 2 - Grade Unit: g/t - Contained Metal: 1900 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total inferred resource of 28 Mt at 2.0 g/t silver adds to the overall silver endowment, but its lower confidence category requires further work for upgrade. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 2.0 Context: 28 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-22) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:210055da21aff00e1810 - Deposit or zone: Total Thursday's Gossan - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 0.43 - Grade Unit: % - Contained Metal: 250 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.53 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total resource for Thursday's Gossan of 59 Mt at 0.43% copper \(0.53% CuEq\) represents a substantial and valuable asset, forming the basis for all development scenario evaluations. - Positive factor: Large total resource provides significant scale for potential development - Positive factor: Resource is 100% owned by the company Evidence · table > 0.43 Context: 59 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-23) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:210055da21aff00e1810 - Deposit or zone: Total Thursday's Gossan - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 0.08 - Grade Unit: g/t - Contained Metal: 154 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total resource for Thursday's Gossan includes 59 Mt at 0.08 g/t gold, providing a valuable gold credit that enhances the overall economic potential of the project. - Positive factor: Gold contributes significantly to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.08 Context: 59 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-24) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:210055da21aff00e1810 - Deposit or zone: Total Thursday's Gossan - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 32000000 - Grade: 2.7 - Grade Unit: g/t - Contained Metal: 5200 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The total resource for Thursday's Gossan includes 59 Mt at 2.7 g/t silver, providing a valuable silver credit that further enhances the overall economic potential of the project. - Positive factor: Silver contributes significantly to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 2.7 Context: 59 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-25) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:5790c2e0f0d551356391 - Deposit or zone: Primary Mineralisation \(OP\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6100000 - Grade: 1.2 - Grade Unit: % - Contained Metal: 74 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 1.6 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 6.1 Mt at 1.2% copper \(1.6% CuEq\) in the Cayley Lodes' primary open pit mineralisation represents a high-grade component, supporting potential open pit development scenarios. - Positive factor: High-grade indicated resource in the Cayley Lodes provides a strong foundation for open pit development - Positive factor: Resource is 100% owned by the company Evidence · table > 1.2 Context: 6.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-26) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:5790c2e0f0d551356391 - Deposit or zone: Primary Mineralisation \(OP\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6100000 - Grade: 0.3 - Grade Unit: g/t - Contained Metal: 59 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 6.1 Mt at 0.30 g/t gold in the Cayley Lodes' primary open pit mineralisation provides a valuable gold credit, enhancing the overall economic potential. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.30 Context: 6.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-27) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:5790c2e0f0d551356391 - Deposit or zone: Primary Mineralisation \(OP\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6100000 - Grade: 9.6 - Grade Unit: g/t - Contained Metal: 1900 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 6.1 Mt at 9.6 g/t silver in the Cayley Lodes' primary open pit mineralisation provides a valuable silver credit, further enhancing the overall economic potential. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 9.6 Context: 6.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-28) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:579558c331ede8bc43ae - Deposit or zone: Primary Mineralisation \(OP\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1500000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 20 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 1.7 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 1.5 Mt at 1.4% copper \(1.7% CuEq\) in the Cayley Lodes' primary open pit mineralisation contributes to the high-grade potential, but requires further drilling for upgrade. - Positive factor: High-grade inferred resource adds to the overall potential of the Cayley Lodes - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.4 Context: 1.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-29) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:579558c331ede8bc43ae - Deposit or zone: Primary Mineralisation \(OP\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1500000 - Grade: 0.25 - Grade Unit: g/t - Contained Metal: 12 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 1.5 Mt at 0.25 g/t gold in the Cayley Lodes' primary open pit mineralisation provides a gold credit, but requires further work for upgrade. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.25 Context: 1.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-30) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:579558c331ede8bc43ae - Deposit or zone: Primary Mineralisation \(OP\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1500000 - Grade: 8.3 - Grade Unit: g/t - Contained Metal: 390 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 1.5 Mt at 8.3 g/t silver in the Cayley Lodes' primary open pit mineralisation provides a silver credit, but requires further work for upgrade. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 8.3 Context: 1.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-31) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:099a35d6063bbc804901 - Deposit or zone: Sub-Total Primary OP Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7500000 - Grade: 1.2 - Grade Unit: % - Contained Metal: 94 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 1.6 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total primary open pit resource for Cayley Lodes of 7.5 Mt at 1.2% copper \(1.6% CuEq\) represents a substantial high-grade component, supporting potential open pit development scenarios. - Positive factor: Significant high-grade resource in the Cayley Lodes' primary open pit mineralisation - Positive factor: Resource is 100% owned by the company Evidence · table > 1.2 Context: 7.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-32) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:099a35d6063bbc804901 - Deposit or zone: Sub-Total Primary OP Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7500000 - Grade: 0.29 - Grade Unit: g/t - Contained Metal: 71 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total primary open pit resource for Cayley Lodes includes 7.5 Mt at 0.29 g/t gold, providing a valuable gold credit that enhances the overall economic potential. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.29 Context: 7.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-33) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:099a35d6063bbc804901 - Deposit or zone: Sub-Total Primary OP Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7500000 - Grade: 9.4 - Grade Unit: g/t - Contained Metal: 2300 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total primary open pit resource for Cayley Lodes includes 7.5 Mt at 9.4 g/t silver, providing a valuable silver credit, further enhancing the overall economic potential. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 9.4 Context: 7.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-34) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:a1e82139a795b3f2ec26 - Deposit or zone: Primary Mineralisation \(UG\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1600000 - Grade: 1.3 - Grade Unit: % - Contained Metal: 21 - Contained Unit: kt - Cutoff Grade: 0.7 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 1.6 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred underground resource of 1.6 Mt at 1.3% copper \(1.6% CuEq\) in the Cayley Lodes' primary mineralisation represents a high-grade component that could be targeted in alternative development scenarios, but requires further drilling to improve confidence. - Positive factor: High-grade inferred underground resource provides potential for selective mining - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.3 Context: 1.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-35) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:a1e82139a795b3f2ec26 - Deposit or zone: Primary Mineralisation \(UG\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1600000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred underground resource of 1.6 Mt at 0.20 g/t gold in the Cayley Lodes' primary mineralisation provides a gold credit, but requires further work for upgrade. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.20 Context: 1.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-36) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:a1e82139a795b3f2ec26 - Deposit or zone: Primary Mineralisation \(UG\) Cayley Lodes - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1600000 - Grade: 4.6 - Grade Unit: g/t - Contained Metal: 230 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred underground resource of 1.6 Mt at 4.6 g/t silver in the Cayley Lodes' primary mineralisation provides a silver credit, but requires further work for upgrade. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 4.6 Context: 1.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-37) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:61cc77190695a493d70f - Deposit or zone: Sub-Total Cayley Lode - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9100000 - Grade: 1.2 - Grade Unit: % - Contained Metal: 110 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 1.6 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total Cayley Lode resource of 9.1 Mt at 1.2% copper \(1.6% CuEq\) represents a substantial high-grade component, supporting potential development scenarios, including the 'small-footprint' underground option. - Positive factor: Significant high-grade resource in the Cayley Lodes provides a strong foundation for potential development - Positive factor: Resource is 100% owned by the company Evidence · table > 1.2 Context: 9.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-38) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:61cc77190695a493d70f - Deposit or zone: Sub-Total Cayley Lode - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9100000 - Grade: 0.27 - Grade Unit: g/t - Contained Metal: 81 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total Cayley Lode resource includes 9.1 Mt at 0.27 g/t gold, providing a valuable gold credit that enhances the overall economic potential. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.27 Context: 9.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-39) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:61cc77190695a493d70f - Deposit or zone: Sub-Total Cayley Lode - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9100000 - Grade: 8.4 - Grade Unit: g/t - Contained Metal: 2500 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total Cayley Lode resource includes 9.1 Mt at 8.4 g/t silver, providing a valuable silver credit, further enhancing the overall economic potential. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 8.4 Context: 9.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-40) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:19fefee28bee8552aa70 - Deposit or zone: Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 16000000 - Grade: 0.4 - Grade Unit: % - Contained Metal: 63 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.44 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 16 Mt at 0.40% copper \(0.44% CuEq\) in the chalcocite blanket represents a substantial shallow resource, suitable for potential heap leach development. - Positive factor: Significant indicated tonnage in the chalcocite blanket provides a solid base for potential heap leach operations - Positive factor: Resource is 100% owned by the company Evidence · table > 0.40 Context: 16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-41) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:19fefee28bee8552aa70 - Deposit or zone: Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 16000000 - Grade: 0.04 - Grade Unit: g/t - Contained Metal: 20 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 16 Mt at 0.04 g/t gold in the chalcocite blanket provides a gold credit, enhancing the overall economic potential. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.04 Context: 16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-42) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:19fefee28bee8552aa70 - Deposit or zone: Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 16000000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 830 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The indicated resource of 16 Mt at 1.7 g/t silver in the chalcocite blanket provides a silver credit, further enhancing the overall economic potential. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 1.7 Context: 16 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-43) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:e2ec88e0249e92a797e0 - Deposit or zone: Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6800000 - Grade: 0.36 - Grade Unit: % - Contained Metal: 25 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.39 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 6.8 Mt at 0.36% copper \(0.39% CuEq\) in the chalcocite blanket contributes to the overall resource base, but its lower confidence category requires further work for upgrade. - Positive factor: Inferred tonnage adds to the overall resource potential of the chalcocite blanket - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.36 Context: 6.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-44) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:e2ec88e0249e92a797e0 - Deposit or zone: Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6800000 - Grade: 0.02 - Grade Unit: g/t - Contained Metal: 4.7 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 6.8 Mt at 0.02 g/t gold in the chalcocite blanket provides a gold credit, but requires further work for upgrade. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 0.02 Context: 6.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-45) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:e2ec88e0249e92a797e0 - Deposit or zone: Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6800000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 300 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The inferred resource of 6.8 Mt at 1.4 g/t silver in the chalcocite blanket provides a silver credit, but requires further work for upgrade. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.4 Context: 6.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-46) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:4f41173b0d34d8ede78e - Deposit or zone: Sub-Total Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 22000000 - Grade: 0.39 - Grade Unit: % - Contained Metal: 87 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.43 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total chalcocite blanket resource of 22 Mt at 0.39% copper \(0.43% CuEq\) represents a substantial shallow resource, suitable for potential heap leach development, and is a key component of the alternative development scenarios. - Positive factor: Significant total resource in the chalcocite blanket provides a solid base for potential heap leach operations - Positive factor: Resource is 100% owned by the company Evidence · table > 0.39 Context: 22 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-47) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:4f41173b0d34d8ede78e - Deposit or zone: Sub-Total Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 22000000 - Grade: 0.03 - Grade Unit: g/t - Contained Metal: 25 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total chalcocite blanket resource includes 22 Mt at 0.03 g/t gold, providing a gold credit that enhances the overall economic potential. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 0.03 Context: 22 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-48) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:4f41173b0d34d8ede78e - Deposit or zone: Sub-Total Chalcocite Blanket - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 22000000 - Grade: 1.6 - Grade Unit: g/t - Contained Metal: 1100 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The sub-total chalcocite blanket resource includes 22 Mt at 1.6 g/t silver, providing a silver credit, further enhancing the overall economic potential. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · table > 1.6 Context: 22 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-49) Stavely Copper-Gold Project · copper #### Identity - Project: Stavely Copper-Gold Project - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:f30f24277585defa0ef8 - Deposit or zone: Thursday's Gossan - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 59000000 - Grade: 0.43 - Grade Unit: % - Contained Metal: 250 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.53 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The overall Mineral Resource estimate for the Stavely Copper-Gold Project at Thursday's Gossan of 59 Mt at 0.43% copper \(0.53% CuEq\) represents a substantial and valuable asset, forming the basis for all development scenario evaluations. - Positive factor: Large total resource provides significant scale for potential development - Positive factor: Resource is 100% owned by the company Evidence · text > Mineral Resource estimate of 59Mt at 0.53% copper-equivalent \(0.43% copper, 0.08g/t gold and 2.7g/t silver\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-50) Stavely Copper-Gold Project · gold #### Identity - Project: Stavely Copper-Gold Project - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:f30f24277585defa0ef8 - Deposit or zone: Thursday's Gossan - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 59000000 - Grade: 0.08 - Grade Unit: g/t - Contained Metal: 154 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The overall Mineral Resource estimate for the Stavely Copper-Gold Project at Thursday's Gossan includes 59 Mt at 0.08 g/t gold, providing a valuable gold credit that enhances the overall economic potential of the project. - Positive factor: Gold contributes significantly to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · text > Mineral Resource estimate of 59Mt at 0.53% copper-equivalent \(0.43% copper, 0.08g/t gold and 2.7g/t silver\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-51) Stavely Copper-Gold Project · silver #### Identity - Project: Stavely Copper-Gold Project - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:f30f24277585defa0ef8 - Deposit or zone: Thursday's Gossan - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 59000000 - Grade: 2.7 - Grade Unit: g/t - Contained Metal: 5200 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The overall Mineral Resource estimate for the Stavely Copper-Gold Project at Thursday's Gossan includes 59 Mt at 2.7 g/t silver, providing a valuable silver credit, further enhancing the overall economic potential of the project. - Positive factor: Silver contributes significantly to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · text > Mineral Resource estimate of 59Mt at 0.53% copper-equivalent \(0.43% copper, 0.08g/t gold and 2.7g/t silver\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-52) Thursday's Gossan · copper #### Identity - Project: Thursday's Gossan - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:53e135841a62eea45a96 - Deposit or zone: Cayley Lode - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9100000 - Grade: 1.2 - Grade Unit: % - Contained Metal: 110 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 1.6 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Cayley Lode resource of 9.1 Mt at 1.2% copper \(1.6% CuEq\) represents a high-grade component, specifically targeted for the 'small-footprint' underground development option. - Positive factor: High-grade resource in the Cayley Lode provides a strong foundation for potential underground development - Positive factor: Resource is 100% owned by the company Evidence · text > 9.1Mt at 1.6% copper-equivalent – 1.2% copper, 0.27g/t gold and 8.4g/t silver #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-53) Thursday's Gossan · gold #### Identity - Project: Thursday's Gossan - Commodity: gold - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:53e135841a62eea45a96 - Deposit or zone: Cayley Lode - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9100000 - Grade: 0.27 - Grade Unit: g/t - Contained Metal: 81 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Cayley Lode resource includes 9.1 Mt at 0.27 g/t gold, providing a valuable gold credit that enhances the overall economic potential of this high-grade zone. - Positive factor: Gold contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · text > 9.1Mt at 1.6% copper-equivalent – 1.2% copper, 0.27g/t gold and 8.4g/t silver #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-54) Thursday's Gossan · silver #### Identity - Project: Thursday's Gossan - Commodity: silver - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:53e135841a62eea45a96 - Deposit or zone: Cayley Lode - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 9100000 - Grade: 8.4 - Grade Unit: g/t - Contained Metal: 2500 - Contained Unit: koz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Cayley Lode resource includes 9.1 Mt at 8.4 g/t silver, providing a valuable silver credit, further enhancing the overall economic potential of this high-grade zone. - Positive factor: Silver contributes to the overall metal equivalent grade and project economics - Positive factor: Resource is 100% owned by the company Evidence · text > 9.1Mt at 1.6% copper-equivalent – 1.2% copper, 0.27g/t gold and 8.4g/t silver #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/svy-alternative-development-scenarios-for-thursday-s-gossan--619c2a13-c5d3-4523-aa8e-d02b633d4267#fact-resource-facts-55) Thursday's Gossan · copper #### Identity - Project: Thursday's Gossan - Commodity: copper - Region: australia\_vic - Reported Region: Western Victoria - Ticker: SVY #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Chris Cairns - Resource group id: resource:48cef63cf76c2b4e16fd - Deposit or zone: Chalcocite-enriched blanket - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 22000000 - Grade: 0.39 - Grade Unit: % - Contained Metal: 87 - Contained Unit: kt - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-02-01 #### Metal Equivalent - Metal Eq. Grade: 0.43 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The chalcocite-enriched blanket resource of 22 Mt at 0.39% copper represents a substantial shallow resource, specifically targeted for the heap leach option in the alternative development scenarios. - Positive factor: Significant tonnage in the chalcocite blanket provides a solid base for potential heap leach operations - Positive factor: Resource is 100% owned by the company Evidence · text > 22Mt at 0.39% copper #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.