News: Caravel Minerals intersects copper-molybdenum in Western Australia

Caravel Minerals (ASX:CVV) has intersected further broad zones of copper-molybdenum at its wholly-owned Calingiri Project in Western Australia.

Results from the 27 drill holes at the Bindi West and Bindi East Prospects have defined excellent continuity of mineralisation within two adjacent zones that remain open both along strike and at depth.

Notable intersections include:

-    150 metres at 0.31% copper, 64ppm molybdenum and 1.3ppm silver from 94 metres including 28 metres at 0.52% copper, 190ppm molybdenum and 1.3ppm silver;
-    102 metres at 0.32% copper, 69ppm molybdenum and 0.8ppm silver from 44 metres including 28 metres at 0.43% copper, 89ppm molybdenum and 0.8ppm silver; and
-    106 metres at 0.32% copper, 63ppm molybdenum and 1.5ppm silver from 36 metres including 32 metres at 0.51% copper, 41ppm molybdenum and 1.2ppm silver.

The company has defined an exploration target for the Bindi Prospect of 110 million tonnes (Mt) to 160Mt grading 0.3% to 0.33% copper, 70ppm to 75ppm molybdenum and 1.2ppm to 1.5ppm silver

Mineralisation consists of coarse grained chalcopyrite and molybdenite in a gneissic host rock, similar to the mineralisation at the Dasher Prospect located 4 kilometres to the south.

The results support Caravel’s strategy to expand the potential of the Dasher discovery at Calingiri, underpinning a bulk-tonnage copper project located just 120 kilometres northeast from Perth.

Dasher has an Exploration Target of 60Mt to 100Mt grading 0.33% to 0.38% copper equivalent.

Significant new drilling targets have also been identified at the Bindi and Ninan South Prospects, providing a strong pipeline of future exploration.