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Caravel Minerals returns over 90 metres of copper mineralisation in latest hole

Drill results have confirmed thick, higher‐grade copper zones at the Bindi Hinge zone.
Map showing project location in WA
Results are from the third hole in a recently completed 6-hole diamond program

Caravel Minerals Ltd (ASX:CVV) has received assays results for diamond drill hole 18CADD005 from its Caravel Copper Project in Western Australia.

The hole featured a 34-metre intersection at 0.55% copper from 64 metres and a 58-metre intersection at 0.54% copper from 150 metres depth.

Notably, the 58-metre zone included a higher grade section of 26 metres at 0.69% copper.

These new results show significantly wider zones and higher grades than previously modelled.

Hole ended in mineralisation

Diamond hole 18CADD005 intersected two significant higher grade zones at the Bindi Hinge zone, which is part of the Bindi deposit.

These two zones are interpreted to be the upper and lower limbs of an overturned fold.

More assays pending, resource upgrade in early 2019

Assay results for three of the six holes drilled have now been received, with the remains holes including two at the Dasher deposit and one hole at Bindi East.

These holes are expected to be finalised over the next 2-3 weeks.

These new results have now confirmed the multidomain geology model interpretation at Bindi West over a strike distance greater than 1.6 kilometres.

The extension of this new geology model to the east limb at Bindi has the potential for significant improvements to the current resource model.

A new resource estimate incorporating recent results is scheduled to be completed in early 2019.

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Caravel Minerals Ltd Timeline

August 16 2016

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