- Caravel Minerals (CVV) receives results from a recently completed reverse circulation (RC) drilling program at the Bindi deposit in Western Australia
- The company recently undertook infill drilling at the Bindi East and Bindi Hinge areas to provide greater confidence in the resource estimate
- Grades peaked at 1.04 per cent copper and the results show wide zones of high-grade mineralisation consistent with previous drilling
- One diamond core rig remains onsite and is drilling a diamond tail into the down plunge extension of the Bindi Southeast Synform
- Shares in Caravel are down 2.44 per cent on the market and are trading at 40 cents at market close
Caravel Minerals (CVV) has received results from a recently completed reverse circulation (RC) drilling program at the Bindi deposit.
The Bindi Deposit lies within Caravel’s namesake project which is situated near Wongan Hills in Western Australia.
Infill drilling was recently undertaken at the Bindi East and Bindi Hinge areas to provide greater confidence in the resource estimate.
Significant results include 14 metres at 0.66 per cent copper including eight metres at 1.04 per cent copper; and 44 metres at 0.27 per cent copper including 12 metres at 0.87 per cent copper.
These results show wide zones of higher-grade mineralisation consistent with previous wide-spaced drilling.
Results from all 69 RC holes have now been received, however, assay results from two diamond holes are pending.
One diamond core rig remains onsite drilling a diamond tail into the down plunge extension of the Bindi Southeast Synform.
By the end of the month, the diamond core rig will complete the preliminary geotechnical drilling for site infrastructure investigations.
The rig will then move to the Dasher area to test the continuity of higher-grade mineralisation and test the mineralised zone along strike at depth.
Shares in Caravel were down 2.44 per cent on the market and were trading at 40 cents at market close.