- Caravel Minerals (CVV) has begun an airborne electromagnetic (AEM) survey at the Toolbrunup Project in Western Australia
- The survey will be undertaken by SkyTEM Australia with a focus on identifying conductive targets that may represent massive sulphide-mineralisation
- The survey is expected to be completed by mid-March with results expected by the end of the month
- Caravel will decide its next steps based on the results and data returned
- Shares in Caravel are up 3.45 per cent and are trading at 15 cents
Caravel Minerals (CVV) has begun an airborne electromagnetic (AEM) survey at the Toolbrunup Project in Western Australia.
The survey will be undertaken by SkyTEM Australia over areas of interest with a focus on identifying conductive targets that may represent massive sulphide-mineralisation.
Toolbrunup surrounds a large magnetic anomaly that is interpreted to be an unrecognised mafic-ultramafic intrusive complex.
This anomaly is similar in size and character to the Gonneville Intrusive where Chalice Mining (CHN) is exploring the Julimar discovery.
Further, the anomaly covers over 15 kilometres in strike but has no surface exposure due to shallow cover and weathering.
Geochemical sampling has indicated significant nickel, copper and platinum anomalies.
The survey is slated for completion by mid-March with results expected by the end of the month.
Caravel will decide its next steps based on the results and data returned.
“AEM surveys are successfully being utilised to identify new priority targets for nickel-copper-platinum group element (PGE) exploration in other parts of the South West Yilgarn Terrane,” Managing Director Steve Abbott said.
“The survey technology is ideal for mapping the bedrock geology and can directly detect sulphide-hosted mineralisation,” he added.
Caravel is up 3.45 per cent on the market and shares are trading at 15 cents at 12:18 pm AEDT.