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Caravel Minerals Ltd.
Summary
| Project: | Calingiri | |
|---|---|---|
| Deposit: | Bindi, Dasher | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum-Silver-Gold | |
| Date: | 4/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 4-4-2017: Caravel Minerals Ltd. announces an Exploration/Drilling Update report for its Bindi, Dasher deposit at the Calingiri project. Drilling results incl. 27m @ 2488ppm Cu from 3m. Caravel Minerals Limited (ASX: CVV) (“Caravel” or “the Company”) is pl | |
| 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 report on results of infill and extensional aircore drilling at its 100% owned Calingiri project as outlined in the ASX release 14 March 2017. Caravel Chief Executive Marcel Hilmer said “The infill aircore drilling results have exceeded our expectations. The substantial number of highly anomalous intersections is unusual for this type of shallow drilling and represent positive leaders to potentially higher grade areas within the project which is part of Caravel’s strategy to increase the size and grade of the existing JORC Resources at Calingiri. It is expected that the results will be incorporated in the planned Pre-Feasibility Study due in 2017.” The air core drilling program, had been 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. The initial results had defined 4 zones in which the regolith and bedrock copper (and other related elements) geochemistry outlined a footprint equivalent to, or larger than, the analogous footprints relating to the Bindi and Dasher deposits. Results have been received for the last 72 holes of the 210 hole program. Most of these holes were designed as infill and extensional holes to further evaluate the 4 copper-molybdenum anomalies outlined by the initial drilling. These results have significantly upgraded these anomalous zones. | |
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