- Caravel Minerals (CVV) has recommenced diamond and reverse circulation (RC) percussion drilling at its namesake copper project in WA
- Diamond drilling is aimed at testing the depth extensions, particularly down-dip extensions, of the Bindi copper deposit
- RC and percussion drilling is aimed better defining shallow copper mineralisation and targeting up-dip positions that have seen limited drilling
- Pleasingly, drilling has intersected significant copper sulphide mineralisation zones but full assays are yet to be received
- Once they are, Caravel will use the data to complete an updated mineral resource
- Caravel ended the day with shares 2.44 per cent in the red and trading at 20 cents
Caravel Minerals (CVV) has recommenced diamond and reverse circulation (RC) percussion drilling after a short break over the new year period.
In December last year, Caravel began diamond and RC percussion drilling at its namesake copper project, located near Wongan Hills in Western Australia.
Diamond drilling is aimed at testing the depth extensions of the Bindi copper deposit below the previous resource model, particularly down-dip extensions of mineralisation on the eastern side.
So far, two of a series of planned diamond drilling programs have been completed. Once they are, Caravel will compile the data to provide detailed geotechnical information and more metallurgical samples for future feasibility studies on the development of the Caravel Copper Project.
The RC and percussion drilling program is aimed at targeting up-dip positions that have seen limited previous drilling and better defining the grade and continuity of shallow copper mineralisation.
Based on geological logging and visual estimates, the drilling has intersected zones of significant copper sulphide mineralisation. Samples have been submitted for assaying and results are pending. Once received, the results are expected to support an updated mineral resource estimate for the Bindi copper deposit.
In addition to the Bindi copper deposit, Caravel is planning to conduct drilling at the Dasher and Opie deposits over the coming months.
Caravel ended the day with shares 2.44 per cent in the red and trading at 20 cents each.