New copper find outshines flagship project

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 23 Sep 2013   Posted by admin


DRILLING results have confirmed the discovery of a new copper prospect by Caravel Minerals, at the Calingiri project in WA.
An induced polarisation survey identified the Edmonds prospect, which is the fifth promising discovery along a 7.5km strike.
Edmonds covered twice the area of the nearby flagship Dasher prospect, which measured 2km by 1km and had similar chargeability and copper soil anomalies.
With all the discoveries in close proximity, only 120km northeast of Perth, the company was confident of setting up a new base metals region.
“The Edmonds prospect provides further evidence that Calingiri has the potential to host a substantial base minerals project,” Caravel chief executive Marcel Hilmer said.
“Importantly, the new anomaly is coincident with both surface copper soil geochemistry and an aeromagnetic anomaly, increasing our confidence that a mineralised system may exist at depth.
“The company has now completed extensive early-stage exploration within the Calingiri trend and we are very pleased that the goal of discovering a large tonnage, disseminated style, primary
copper-molybdenum sulphide system has been greatly enhanced by the Edmonds discovery.”
The Calingiri project includes the Bindi, Dasher, Cavel, Edmonds, Kurrali and Opie prospects along a 30km trend.
Once the company had obtained environmental approval, it would start a drilling program to test multiple priority targets.
Reverse circulation drilling was expected to take place at the end of the year. Positive news continued for Caravel after drilling results confirmed high grade results at its Bryah manganese project near Meekatharra in WA.
Sampling of 63 rock chips across a 1.5km strike revealed an extensive zone of up to 50 per cent mineralisation grading of manganese.
“While our focus remains on our flagship Calingiri and Wynberg projects in WA and Queensland respectively, these results demonstrate the outstanding potential of the Bryah Project to host economic manganese mineralisation,” Mr Hilmer said.
“The sampling to date has returned consistent high grades and the mineralisation remains open in all directions.
“The Bryah project – which is located in the same region which has delivered the world-class DeGrussa copper-gold deposit – also remains prospective for additional base and precious metal mineralisation.
“While it does not have quite the same profile as some of the other base and precious metals, manganese is the world’s fourth most traded metal.
“It is a crucial component in the manufacture of steel, used in a variety of alloys and, importantly, is the major component in the creation of lithium ion batteries.
“Australia has three world-class manganese mines at Woodie Woodie in WA and at Groote Eylandt and Bootu Creek in the Northern Territory.
“The strong demand for manganese in conjunction with these outstanding results at Landor has significantly upgraded the prospectivity of the Bryah project.”
Formerly known as Silver Swan Group, Caravel is based in Perth and has several gold and copper projects in WA and Queensland.