Join our daily newsletter At The Bell to receive exclusive market insights
- Caravel Minerals (CVV) gets results from two holes drilled at the Bindi copper deposit which is part of the Caravel copper project in WA
- One hole confirms the hanging wall fault to the north of the Bindi West Limb is shallower than previously thought, providing a larger window of mineralised granite gneiss beneath
- The other hole intersected significant mineralisation at depth in the Bindi East Limb and confirmed the continuity of mineralisation along strike and at depth
- Drilling is continuing at the Bindi and Dasher deposits
- CVV shares have dropped 1.45 per cent to trade at 34 cents
Caravel Minerals (CVV) has received assays from two drill holes completed at the Bindi copper deposit.
The results account for drilling over the Bindi East and Bindi West areas of the Bindi deposit which is part of the Caravel’s namesake copper project in Western Australia.
Hole 21CADD016 returned 16 metres at 0.38 per cent copper, including eight metres at 0.51 per cent copper.
It intersected granite, granite gneiss and mafic gneiss of the hanging wall units above the hanging wall fault and the minor mineralisation seen above the fault is associated with fracturing consisting of mixed chalcopyrite.
The hole intersected nearly 40 metres of Bindi West Limb mineralisation before passing into a large dolerite dyke which are reportedly rarely intersected in drilling at Bindi.
The company said these results confirm the hanging wall fault is shallower than previously interpreted at the northern end of the Bindi West Limb which provides a larger window of mineralised granite gneiss beneath it.
21CADD017 intersected significant mineralisation at depth in the Bindi East Limb with results including 118 metres at 0.28 per cent copper including 46 metres at 0.36 per cent copper.
Caravel said results from 21CADD017 confirm mineralisation continues along strike and at
depth within the Bindi East Limb as well as in the Bindi Hinge zone.
The company is yet to receive assays from drilling at the Bindi and Dasher deposits. Hole 21CADD020 is currently being drilled at the southern end of Dasher to test the main mineralised zone.
CVV shares dropped 1.45 per cent to trade at 34 cents at 3:39 pm AEDT.
