Surface rock chip grades of up to 50.8% Cu and 13.8g/t Au with...

Surface rock chip grades of up to 50.8% Cu and 13.8g/t Au with associated silver from newly discovered “Wynberg C” prospect.
? Wynberg C potentially represents the continuation/extension of folded Wynberg A stratigraphy which hosts an Inferred Resource of 140,000oz of gold.
? Robust surface copper-gold anomalies identified at Wynberg A, B and C prospects from 598 systematic soil samples: results confirm high prospectivity of Wynberg B.
Caravel Minerals Limited (“Caravel” or the “Company”) (ASX: CVV) is pleased to announce that it has discovered a third highly prospective copper-gold prospect during a recently completed program of surface soil geochemistry and rock chip sampling at its 100%-owned Wynberg Project, located in the Cloncurry District of North Queensland.
The new prospect, known as Wynberg C, is located along strike from the Wynberg A prospect, which contains an Inferred Resource of 140,000 ounces of gold (3.1 million tonnes grading 1.4 g/t).
Caravel’s Chief Executive Officer, Marcel Hilmer said the Company’s strategy of systematically exploring the Wynberg Project to gain a solid understanding of the region’s geology and identifying priority areas for follow-up exploration had proven to be very successful.
“The results to date clearly demonstrate the outstanding potential of the project to host significant copper-gold mineralisation. The Cloncurry District is one of the most significant mineral provinces in the world, and having results like this on the doorstep of some of the great copper-gold finds of modern times, like Ernest Henry, is very encouraging. We intend to progress cost-effective and focused exploration activities at Wynberg to advance this project to the next stage, without compromising our ongoing focus on our primary asset, the Calingiri copper-molybdenum project in WA.”
Wynberg C
A total of 14 rock chip samples were collected within the newly identified Wynberg C prospect on the basis of encouraging surface geology and soil geochemical results. Significant copper-gold results were returned in 6 out of 14 rock chips taken, as shown in Table 1 and Figure 1 below. A full list of results is provided in Appendix A.
Sample ID MGA Easting MGA Northing Cu (%) Au (g/t) Ag (g/t)
H343003
472242
7705543
1.8
2.87
1.2
H343004
471965
7705620
50.8
0.35
57.5
H343005
472563
7705147
0.9
13.8
0.7
H343009
471149
7705194
4.0
0.96
5.1
H343016
471220
7705236
12.9
0.64
21.1
H343018
471637
7705234
37.2
0.96
0.6
Table 1