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Caravel Minerals is to drill large copper-molybdenum targets at Calingiri, Western Australia

Last updated: 11:00 25 Nov 2013 AEDT, First published: 10:00 25 Nov 2013 AEDT

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Caravel Minerals (ASX: CVV) will commence reverse circulation drilling this week at its flagship Calingiri copper-molybdenum project, located 120 kilometres north-east of Perth in WA.

Extensive exploration this year has confirmed the potential for Calingiri to host large tonnage, disseminated style, primary copper-molybdenum mineralisation.

Substantial widths up to 233 metres of copper-molybdenum mineralisation were intersected at the Dasher prospect, a 1 kilometre section within a prospective 30 kilometre trend at Calingiri.

Induced polarisation surveying has revealed further prospects including the large Edmonds chargeability anomaly, measuring 2 kilometres by 1 kilometre.

In total, five priority prospects have been identified to date along a 7.5 kilometre strike length at Calingiri.

Phase 1 drilling will comprise 5,300 metres, initially test the Edmonds and Kurrali prospects, with testing of the Cavel prospect to follow in early 2014.

All three priority prospects are represented by significant IP chargeability anomalies, indicating disseminated style sulphide mineralisation.

The presence of correlating copper surface geochemical anomalies increases confidence that primary copper mineralisation may be associated with the chargeability anomalies.

Drilling at Kurrali is expected to be completed in December, with Edmonds and Cavel in January 2014.

Complete assay results are due in January/February 2014, with a follow up phase 2 drilling program is planned for second quarter 2014.

 

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