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  • Caravel Minerals (CVV) has received results from the recently completed reverse circulation (RC) drilling program at the Opie Deposit in WA
  • The RC drilling, which consisted of five holes, was designed to test the structural interpretation of the deposit and identify higher-grade mineralisation
  • Results peaked at 0.65 per cent copper and Caravel will use them to update the mineral resource estimate at Opie
  • If needed, further drilling will be carried out to extend the mineralised zone
  • Caravel has ended the day 12.8 per cent in the red with shares trading at 20.5 cents

Caravel Minerals (CVV) has received results from the recently completed reverse circulation (RC) drilling program at the Opie Deposit.

The Opie Deposit lies roughly 10 kilometres south of Caravel’s main copper deposits at its namesake copper project in Western Australia.

Ongoing work at Opie has been designed to test the potential of the area to host larger and higher-grade resources to be included in feasibility studies.

The recently completed RC drilling, which consisted of five holes for 870 metres, was designed to test the structural interpretation of the deposit and identify higher-grade mineralisation.

Best results include 10 metres at 0.65 per cent copper, six metres at 0.64 per cent copper and 34 metres at 0.34 per cent copper.

Caravel will use these results to update the mineral estimate at the Opie Deposit and other deposits at the Caravel Project.

If needed, further drilling will be carried out to extend the mineralised zone.

Caravel has ended the day 12.8 per cent in the red with shares trading at 20.5 cents in an $81.69 million market cap.

CVV by the numbers
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