Caravel Minerals identifies new Calingiri prospects
THE DRILL SERGEANT: Caravel Minerals (ASX: CVV) is excited about the identification of two new prospects at the company’s 100 per cent-owned Calingiri copper-molybdenum project, located 120 kilometres northeast of Perth in Western Australia.
The new prospects, Cavel and Kurrali, are located 2.5 kilometres and 5 kilometres south of Calingiri’s main Dasher prospect respectively.
Calingiri Induced Polarisation (chargeability) targets and prospects. Source: Company announcement
The company considers the latest finds further highlight the exploration potential of a previously identified 30km-long regional copper-molybdenum trend.
Caravel recently announced an Exploration Target for Dasher of 60 to 100 million tonnes at 0.33 to 0.38 per cent copper with associated molybdenum, gold and silver.
A recently-completed Induced Polarisation (IP) survey at Cavel and Kurrali identified four strong chargeable anomalies the company has interpreted to reflect potential primary bedrock copper mineralisation.
Caravel considers these anomalies to be priority RC drill targets.
A recent report completed by consultants SGS Lakefield Oretest on the results of metallurgical testwork from Dasher RC drill samples indicate very encouraging first-stage rougher flotation recoveries of copper (up to 96.4 per cent), molybdenum (up to 98.2 per cent) and silver (up to 76.1 per cent).
Caravel said the new targets highlighted the potential for more ‘Dasherstyle’ systems to exist on the company’s freehold land at Calingiri.
“Importantly, both these new prospects have chargeable responses of similar magnitude and scale to those seen at Dasher, significantly increasing our confidence that these targets could host economic mineralisation,” Caravel Minerals chief executive Marcel Hilmer said in the company’s announcement to the Australian Securities Exchange.
“These strong results, in conjunction with the excellent initial metallurgical results at Dasher, further support the company’s belief that Calingiri could become a major new mining district on the doorstep of Perth.”