Caravel Minerals confirms depth extensions to mineralisation at Bindi copper deposit

Caravel Minerals ASX CVV extensions depth mineralisation Bindi copper deposit East limb target
Latest drilling extends known copper at the Bindi East Limb target to more than 500m below surface.

Recent diamond drilling at Caravel Minerals’ (ASX: CVV) Bindi copper deposit in Western Australia’s wheatbelt region has identified significant depth extensions to mineralisation at the Bindi East Limb target.

Three deep diamond drill holes were completed to test the down dip extension and continuity of copper-molybdenum mineralisation at Bindi, which sits within the wider Caravel copper project.

Visual logs of copper sulphides were also made on a fourth hole.

The holes have defined a significant zone of mineralisation consistent with the down dip projection of the geology and mineralisation model below the existing mineral resource at Bindi.

Caravel said a close correlation between the drill results and a previously projected position from the geological model would allow for extension of the model to around 500m depth “with high levels of confidence”.

New fold structure

Geological and structural observations from the drill core have also defined a previously-unrecognised fold structure at the southern end of Bindi East Limb, causing structural thickening and possibly repetition of the mineralised zone.

The company said there are indications of higher grades of mineralisation occurring near the fold closure, as seen in the Bindi Hinge Zone to the north.

“The new interpretation of another fold closure on Bindi East Limb has significant implications for adding additional resources and further work is underway to test this area,” it said.

Further reverse circulation and diamond drilling is in progress to improve geological confidence in the extent and continuity of mineralisation in the southern part of Bindi East Limb and better define the interpreted fold closure.

Exploration target

Caravel has defined an exploration target for the intersected mineralisation of up to 85 million tonnes grading 0.30% copper, for between 150,000 and 255,000t of contained metal.

The target is largely based on the four drill holes which hit copper sulphide mineralisation between 300m and 500m below surface at Bindi Hinge Zone and Bindi East Limb.

The grade is based on assays and visual estimates of copper sulphide mineralisation in core which is awaiting assay, and are reflective of the bulk grade over the full width of the mineralisation.

Caravel said the exploration target would be added to the existing Bindi resource estimate, and an updated estimate planned for release by mid-year.

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