Calingiri Maiden JORC Resource
251 Mt @ 0.34% for 844,300 tonnes copper
Caravel Minerals Limited (ASX: CVV) (“Caravel” or “the Company”) is pleased to announce that a
maiden JORC 2012 reportable Mineral Resource estimate has been completed for the Calingiri Project.
HIGHLIGHTS
• Over 74% of the Mineral Resource is in the Indicated category
• 143 Mt @ 0.38% for 549,800 tonnes copper at a higher cut-off grade of 0.30%
• 530 Mt @ 0.27% for 1,407,900 tonnes copper at a lower cut-off grade of 0.15%
• Resources remain open along strike and at depth, and include higher grade zones from
near surface
• The Mineral Resource is the consolidation of three prospects; Bindi, Dasher and Opie
• External testwork indicates copper recoveries >90% and molybdenum recoveries >80%
• The CSA Global Scoping Study has started and remains on schedule for release in Q2 2016
The Mineral Resource is reported above a 0.25% copper cut-off, shown in Table 1 below:
* See Appendix A for details of CuEq% calculation
Caravel Chief
(20min delay)