Caravel extends Bindi mineralisation as drilling hits more copper

Caravel has identified extensions to the Bindi Lower Limb and new Mineralised Zone at its namesake project after drilling returned copper hits.

Bottom of hole samples from four wide-spaced holes drilled into near fresh rock northeast of the Bindi deposit returned results of between 0.11% and 0.18% copper.

These indicate a significant northerly extension to the Bindi Lower Limb and increase the extent of a new mineralised zone between the Bindi East and Bindi Lower Limbs.

Caravel Minerals (ASX:CVV) added that aircore drilling south of the Bindi deposit has defined a small, mineralised zone.

Taken together, the results indicate that not only is the Bindi deposit open to the east, there is also potential to define new mineralisation outside the current resource model.

Drill results

Aircore drilling to the northeast of Bindi has now defined two sub-parallel north-northeast trending mineralised zones that start in the vicinity of the Bindi East Limb.

Both zones remain open to the north with the 1.8km easternmost mineralised zone interpreted to be the surface projection of the Lower Limb of the Bindi East deposit.

Earlier reverse circulation drilling had confirmed the north-northeast trending mineralised zones are associated with primary sulphide mineralisation though further infill drilling will be required to test the full strike extent of the mineralised zones and identify areas of potentially economic mineralisation.

Over to the south, the aircore drilling has defined a small, mineralised zone which is consistent with results from historical wide-spaced drilling in the area.

This area is located within the larger Bindi antiform and may represent a smaller mineralised horizon within the fold system though its significance remains unclear due to a lack of structural data in the area to help put the geochemistry in context.

Drilling to the southwest of Bindi returned weak anomalism adjacent to the southwest trending hanging wall fault, which is consistent with RC drilling showing that mineralisation tapers off in the southwest tip of the Bindi West Limb.

Assays are also pending for diamond holes drilled to provide material for metallurgical test work and geotechnical data to assist with the design of the Bindi Deposit starter pits.

This article was developed in collaboration with Caravel Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.