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Caravel Minerals Ltd.
Summary
| Project: | Calingiri | |
|---|---|---|
| Deposit: | Bindi, Dasher | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum-Silver-Gold | |
| Date: | 3/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 14-3-2017: Caravel Minerals Ltd. announces an Exploration/Drilling Update report for its Bindi, Dasher deposit at the Calingiri project. Drilling results incl. 10m @ 1278ppm Cu from 0m. Caravel Minerals Limited (ASX: CVV) (“Caravel” or “the Company”) is p | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Tony Poustie (Internal) | |
| ABSTRACT: | Caravel Minerals Limited (ASX: CVV) (“Caravel” or “the Company”) is pleased to announce that initial results from the exploration activity at its Calingiri Project (“Calingiri”), as outlined in the ASX release of 23 November 2016, have returned highly encouraging results both from the air core drilling and geophysical activities. Figure 1 Exploration Programs Q1 2017 The air core drilling program, designed to evaluate several copper surface geochemical targets in close proximity to the Bindi and Dasher JORC Resources, as well as an undrilled trend near the western perimeter, has defined 4 zones in which the regolith and bedrock copper (and other related elements) geochemistry defines a footprint equivalent to, or larger than, the analogous footprints relating to the Bindi and Dasher deposits. The Induced Polarisation survey designed to test a large multielement geochemical target, interpreted to be a potential VMS target, has defined several chargeability anomalies coincident with the peak geochemical anomalism. Caravel Chief Executive Marcel Hilmer said “These exploration programs are part of Caravel’s strategy to increase the size and grade of the existing JORC Resources at Calingiri and the significant VMS targets and Cu/Mo zones are an important step in achieving this outcome. It is expected that the results will be incorporated in the planned Pre-Feasibility Study due in 2017.” | |
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