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Caravel Minerals Ltd.
Summary
| Project: | Caravel | |
|---|---|---|
| Deposit: | Bindi | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum-Silver-Gold | |
| Date: | 3/6/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 6-3-2019: Caravel Minerals Ltd. announces an Exploration/Drilling Update report for its Bindi deposit at the Caravel project. Drilling results incl. 200.0m @ 0.31% Cu from 42m. Caravel Minerals Limited (ASX:CVV, “Caravel” or “Company”) is pleased to annou | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Peter Pring, Andrew McDonald (Internal;Independent) | |
| ABSTRACT: | Caravel Minerals Limited (ASX:CVV, “Caravel” or “Company”) is pleased to announce the results from the last three holes of the recently completed Reverse Circulation (“RC”) drilling program at the Caravel Copper Project’s Bindi deposit. Laboratory assays have confirmed significant copper intersections in the Bindi Hinge Zone. Highlights from the most recent drilling are presented in Table 1, while a summary of all significant intersections are presented in Table 2: Holes 19CARC006 and 19CARC007 were drilled to test the continuity of higher‐grade domains previously intersected in 18CADD005 which returned 34m @ 0.55% Cu and 58m @ 0.54% Cu (See ASX announcement – 4 January 2019). Both holes were drilled on a section 100 meters (m) to the north of 18CADD005 and both holes intersecting thick zones of copper mineralisation in close agreement with the expected position from the new geological model. 19CARC006 targeted the interpreted fold nose position at the Hinge zone. Drilled at a dip of ‐60° to the east on section 6,574,400mN, 16CARC006 intersected 200m @ 0.31% from 42m (Figure 1). Within this broad mineralised zone, numerous higher‐grade domains were intersected, including 8m @ 0.52% Cu from 84m and 8m @ 0.45% Cu from 110m, 16m @ 0.42% Cu from 152m and 6m @ 0.73% Cu from 206m. Hole 19CARC007 was drilled approximately 120m to the west of 19CARC006 and targeted the high‐grade domain in the upper (West) limb previously intersected by 18CADD005 (34m @ 0.55% Cu). Drilled at a dip Page 2 of ‐60° to the east, 19CARC007 returned some of the standout intersections from the current drilling campaign, returning 64m @ 0.53% Cu from 120m, including 30m @ 0.72% Cu from 132m (Figure 1). These intercepts were located in a broader mineralised zone of 138m @ 0.35% Cu from 74m. The hole was terminated in mineralisation due to excess water flows and was unable to test the lower limb. | |
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