Caravel Minerals (ASX:CVV) has encountered an extension of mineralisation at depth following a diamond drilling (DD) program at the Bindi Copper deposit within its namesake project in Western Australia.
The results, generated from a diamond drilling campaign conducted in 2022 at the Caravel Copper Project, add further confidence to the existing resource model and confirm an extension of mineralisation at depth.
The company says drillhole 22CADD010 intersected mineralisation in the lower limb of the deposit, which is consistent with the geological model and confirms the extension of mineralisation at depth.
Key assay results returned from 4 diamond holes completed in late 2022 include hole 22CADD007 with 44m @ 0.24% copper (Cu) from 92m and 128m @ 0.27% Cu from 142m including 22m @ 0.55% Cu from 212m; and hole 22CADD008 with 42m @ 0.33% Cu from 32m and 34m @ 0.27% Cu from 150m.
The 2022 drilling program comprised 7 drillholes that were completed about 2-3km northwest of the Bindi deposit and into the walls of the Bindi East and Bindi Hinge starter pits in order to collect geotechnical information for mine design and geological modelling.
Drilling has restarted at the project … with programs underway at the Bindi West and borefield areas
Drilling has restarted at the project following the conclusion of harvest, with programs underway at the Bindi West and borefield areas. Current drilling has been designed to focus on hydrogeology, geotech holes for infrastructure locations and mine design, environmental assessments, and metallurgical sample collection.
The company also notes other activities being undertaken include aircore (AC) sterilisation drilling under areas nominated for future infrastructure, and to generate further geotechnical design data.
In addition, these results come following the delivery of high-pressure grinding roll (HPGR) testwork results which confirmed Prefeasibility Study (PFS) design assumptions, as announced by the company earlier this month.
Results from this testwork confirmed the scale assumptions, including required crusher performance, reduced energy usage, and higher throughput rates, to support a 27 million tonne per annum (Mtpa) project with potential for future upside capacity.
Caravel Minerals is an ASX-listed company focused on advancing Definitive Feasibility Studies (DFS) for its namesake project located in Western Australia’s Wheatbelt region.
The project represents a ‘large-scale’, long-life (28-year) copper project situated about 150km northeast of Perth.
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