Caravel has put its deerstalker hat on and started an airborne EM survey over an intriguing magnetic anomaly that may host a Julimar lookalike.

The company had noted previously that the 15km long magnetic structure at the Toolbrunup nickel, copper and platinum group metals (PGM) project is similar in style, character and age to the Gonneville Intrusive that hosts the Julimar discovery.

Julimar is a new greenfield PGM-nickel-copper-cobalt sulphide discovery that has provoked excitement since the first hole that returned 19m at 8.4 grams per tonne palladium, 2.6 per cent nickel, 1 per cent copper and 0.1 per cent cobalt.

Subsequent exploration by the operator have outlined a world-class project with 11 high-grade zones with significant strike length and mineralisation extending from about 25m to 550m below surface.

So it should come to no surprise that Caravel Minerals (ASX:CVV) would want to carry out some sleuthing to reinforce its belief that the Toolbrunup area is highly prospective for nickel-copper-PGM mineralisation.

The helicopter-borne electromagnetic (EM) and magnetic survey will be flown on 200m spaced lines over the area of interest to identify conductive targets that may represent massive sulphide-hosted mineralisation.

About 450 line km of data will be acquired that can potentially provide target definition of bedrock conductors to a depth of 350m below surface.

It is expected to be completed by the middle of this month with results expected to be delivered by the end of the month

Caravel will then determine the next phase of work on the project based on any target areas that may be identified.

“AEM surveys are successfully being utilised to identify new priority targets for Ni-Cu-PGM exploration in other parts of the South West Yilgarn Terrane,” managing director Steve Abbott said.

“The survey technology is ideal for mapping the bedrock geology and can directly detect sulphide-hosted mineralisation.”

caravel minerals Toolbrunup survey
Location of planned airborne EM survey. Pic: Supplied

Toolbrunup Project

The Toolbrunup project was identified through geochemical sampling results from both open file reports and Caravel’s proprietary database that shows significant anomalies for both nickel, copper and platinum over the magnetic anomaly.

No previous exploration has been carried out in the area, which has no surface exposure due to surface weathering and shallow cover.

Caravel has noted that the presence of PGMs is a strong indicator of magmatic sulphide development.

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.