The Caravel Copper Project comprises a series of deposits of copper with associated gold and molybdenum. The mineralization is interpreted to be of a style know as ‘porphyry copper’, examples of which include most of the world’s largest copper deposits, mainly along the western volcanic margin of South and North America. This style of deposit is associated with the geological processes that occur when tectonic plates are converging, leading to mountain chains and volcanoes like the Andean Mountains in South America.
The Caravel deposits are much older than most porphyry coppers and have been dated at around 3 billion years old. At that time the Wheatbelt region was a major mountain chain formed by the Southwest Terrane colliding with the rest of the Yilgarn Terrane. The boundary of the two terranes can be seen in Figure 1 below.
The Caravel Copper Project deposits were found by Dominion Mining in 2010 as part of a major exploration program where Dominion conducted open range sampling throughout the southwest part of Western Australia, mostly collecting samples from road verges. Low-level copper anomalies identified from the regional sampling were followed up with drilling, eventually leading to the discovery of the main copper mineralization.
As well as the main deposits already discovered Caravel Minerals has numerous other prospects and mineralized areas within the same district scale mineralized corridor. Exploration has been focused within this corridor using surface, auger and aircore sampling. Outlines of the main anomalies have been used to target follow-up geophysical survey, mainly IP, and subsequent RC drilling.
Many of the target areas have shown mineralization in basement rocks and require further drilling to evaluate. Most of these prospects have only a few holes testing the anomalies. The grades, mineralogy and structure of mineralisation at many of these prospects are similar to that at the main deposits and it seems likely all these mineralized areas are part of a common large system.
Exploration throughout the mineralised corridor will continue and is expected to add further resources to the project.