Announcement Date: 2022-05-03
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Caravel Minerals Ltd.
Project name: Caravel
Location: Australia
Commodities: Copper
Highlight: Drilling results incl. 136m @ 0.33% Cu from 44m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Assay results have been received for reverse circulation percussion drilling (21CARC132-137 and 22CARC001-014) at the Bindi Deposit. The RC percussion drilling includes targeted infill drilling of the Bindi East, Bindi Hinge and Bindi West zones as well as exploration holes into the Bindi Far East position, at the Caravel Copper Project in Western Australia (Appendix 1). Infill RC percussion drilling results (21CARC132-137 and 22CARC001-008) continue to show good continuity of higher-grade copper mineralisation within the Bindi Hinge, Bindi East and Bindi West positions. The results show consistent grades along strike and across the mineralised zones. Copper grades within the Bindi Hinge and Bindi East starter pits show wide zones well above the Bindi Measured Resource grade of 0.27% Cu (using 0.1% Cu cut-off), supporting the selection of these areas for early mining activities. The exploration RC percussion drilling (22CARC009-014) was undertaken to target a potential “updip” extension of the Bindi Lower Limb. Drilling at Bindi Far East approximately 300-500m east of the Bindi East Limb targeted strongly anomalous AC drilling results in that area. The Bindi Lower Limb has been interpreted based
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