Caravel Minerals Limited (ASX: CVV) has announced the commencement of a 10,000 metre RC percussion infill drilling program at the Bindi deposit, part of its namesake Caravel Copper Project located 120km north-northeast of Perth in WA’s Wheatbelt region.
The company said that the drilling will infill the higher-grade copper zones within the Bindi Hinge and the recently identified area of the Bindi East Limb. CVV said that a key program objective is to increase the confidence of higher-grade areas for resource/reserve classification.
CVV said that the potential to incorporate these areas into the early stage of a proposed mine schedule is also being evaluated.
Drilling at Bindi
The Company had maintained an active diamond drilling and RC percussion drilling program at the Bindi deposit since late 2020. CVV reported that approximately 5,000 metres of diamond drilling and 9,000 metres of RC percussion drilling have recently been completed. The company said that broad zones of copper mineralisation intersected by drilling show excellent continuity over more than 1.2 km of strike length.
The company said that the recent work has identified new, near-surface zones of higher-grade mineralisation as well as down-dip extensions of the mineralised zone on the East Limb of the deposit. CVV said that the drilling also allowed a more refined interpretation of the geology of the copper deposit.
RC percussion infill drilling
The company reported that it has now commenced a substantial program of infill reverse circulation (RC) percussion drilling at the Bindi deposit within the Caravel Copper Project.
CVV said that the extension of the drilling program at the Bindi Deposit will comprise approximately 10,000 metres of RC percussion on infill traverses. Each drill hole is planned to be 150m-200m in depth. When completed, the drilling grid will comprise 50m spaced sections, with hole spacings from 50m to 80m along section.
CVV said that the drilling was designed to increase the grade and distribution of copper-molybdenum mineralisation in the Bindi Hinge Zone and Bindi East Limb.
Results to support updated MRE
The company said that the infill program will allow a significant increase in the geological confidence and potential resource/reserve classification of the shallow higher-grade mineralisation.
CVV said that the results from the drilling program will support an updated resource estimate and the potential to bring these higher-grade shallow zones into the early mine schedule of the Project’s Pre-Feasibility Study (PFS). The company said that the PFS will utilise results from the program with the specific aim of improving early Project economics.
Image Source: Caravel Minerals Limited