Caravel Minerals Limited (ASX: CVV) has appointed a highly experienced Exploration General Manager as it prepares to kick-off a key drilling campaign at Caravel Copper Project north of Perth in Western Australia.
The company is currently engaged in feasibility studies for the development the Caravel Copper Project, located 150km north-east of Perth in WA’s Wheatbelt region.
The project is based on an Indicated and Inferred Mineral Resource of 661.9Mt @ 0.28% Cu (at 0.15% Cu cut-off) for a total of 1.86Mt contained copper, making it one of the largest undeveloped copper resources in the State.
A Scoping Study completed in 2019 by Caravel Minerals and MSP Engineering demonstrated a strong economic model for the Project and recommended proceeding with more advanced feasibility studies.
The junior explorer is planning to mobilise a drilling rig to undertake a new drilling programme, which will include following up on significant results from previous drilling at the Ninan Prospect.
The company has planned for approximately 1,500 to 2,000 metres of reverse circulation (RC) percussion drilling at Ninan aimed at defining the extent of known high grade copper-gold mineralisation and may result in estimation of a maiden mineral resource for this area.
Using a new geological interpretation developed at the Bindi Deposit immediately south of Ninan, the current drilling programme will target extensions of copper-gold mineralisation along strike to the north and south of the area where previous drilling intersected wide zones of higher grade mineralisation.
Drilling will also target a magnetic anomaly that is interpreted to be associated with the mineralisation and a nearby EM conductor associated with surface geochemistry anomalies.
The work is anticipated to be completed by the end of August 2020 and assay results for the drilling are expected during September.
Meanwhile, the company has appointed Lachlan Reynolds to the role of General Manager of Exploration to support the company’s active exploration and resource development program. Mr Reynolds is a geologist with 30 years involvement in mineral exploration, project development and mining, in both Australia and internationally. He has broad resource industry expertise, across a range of commodities including copper, gold, nickel and uranium.
Over the past 10 years Mr Reynolds has served as an executive and senior manager for a number of listed companies and has supervised a diverse suite of mineral projects for various listed junior exploration companies.
Prior to joining Caravel, Mr Reynolds held the position of Managing Director for Golden Mile Resources Ltd, a WA-based gold and nickel exploration company.
