Caravel Minerals (ASX:CVV), formerly Silver Swan Group, is an Australian listed gold and base metals explorer with projects throughout Western Australia and Queensland.
Silver Swan Group (ASX: SWN) has commenced a soil sampling program at the company’s Abbotts Gold and Base Metals Project with the aim of defining targets for a potential drilling program that will begin in July.
The planned drilling program will target high grade oxide lode gold as well as copper and zinc mineralisation.
Silver Swan managing director Dr Susan Vearncombe said today that the project is located in an underexplored greenstone belt.
“Our work so far has identified five coherent gold-in-soil anomalies and six base metals anomalies,” Vearncombe said.
“The anomalies are all open along strike, indicating more than 800m strike length to some zones.
“Based on these encouraging preliminary results, the surface sampling area is being extended and in-filled with an additional 761 samples.”
Silver Swan’s Abbotts project is located northwest of Meekatharra in Western Australia, within 50 kilometres of the Meekatharra gold mining district, which includes Doray Minerals’ recent Andy Well gold discovery.
Andy Well hosts a resource of 831,000 tonnes at 12.7 grams per tonne gold for 331,000 ounces of gold.
Importantly, the Andy Well host structure is interpreted to cut the unexplored southern part of the Abbotts tenement package.
Abbotts comprises five tenements covering 265 square kilometres. An additional five mining lease applications are in place, for a potential further 27 square kilometres.
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