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Caravel Minerals (ASX:CVV) completes EM survey at Toolbrunup with uncertain results
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  • Junior copper explorer Caravel Minerals (CVV) has completed an airborne electromagnetic (EM) survey at its Toolbrunup Project in WA
  • While the survey defined several conductors across the project area, Caravel said these are mostly considered to be laterite cover and saline groundwater
  • This conductive cover could be obscuring deeper conductors potentially associated with sulphide mineralisation
  • As such, Caravel said further processing of the survey data is underway to determine if the conductors are potentially related to mineralisation in the area
  • The Toolbrunup Project lies in WA's South West Yilgarn Terrane region, around 300 kilometres southeast of Perth
  • Shares in Caravel Minerals are trading 2.38 per cent higher at 22 cents each

Junior copper explorer Caravel Minerals (CVV) has completed an airborne electromagnetic (EM) survey at its Toolbrunup Project in WA.

While the survey has defined several conductors across the project area, the nature of the conductors is not yet certain.

Caravel said at this stage, the defined conductors are mostly considered to be near-surface laterite cover and saline groundwater.

The Toolbrunup Project, which Caravel believes to be prospective for nickel, copper, and platinum group elements, lies in WA's South West Yilgarn Terrane region, around 300 kilometres southeast of Perth.

Uncertain conductors

Simply put, EM surveys work by generating an electromagnetic field that causes electric currents to flow through the material below the ground.

The flow of electricity underground is detected by a receiver coil which then highlights which areas below the ground conducted the most electricity — the areas most likely to contain precious and base metals.

In Caravel's case, the airborne EM survey was made up of 450-line kilometres over the Toolbrunup project area, spread 200 metres apart.

The results of the survey suggest most of the conductors were near-surface laterite cover — a type of soil typically rich in aluminium and iron oxides — and saline groundwater.

Caravel said while some anomalies appear more prospective, the widespread laterite conductive cover could be obscuring deeper conductors potentially associated with sulphide mineralisation.

As such, Caravel said further processing of the survey data is underway to determine if the conductors are potentially related to mineralisation within the interpreted magic-ultramafic intrusive complex in the project area.

Shares in Caravel Minerals are trading 2.38 per cent higher at 1:10 pm AEST at 22 cents each. The company has a $74.74 million market cap.

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