Caravel Minerals Limited announced that Assay results have been received for reverse circulation percussion drilling (21CARC132-137 and 22CARC001-014) at the Bindi Deposit. The RC percussion drilling includes targeted infill drilling of the Bindi East, Bindi Hinge and Bindi West zones as well as exploration holes into the Bindi Far East position, at the Caravel Copper Project in Western Australia. Infill RC percussion drilling results (21CARC132-137 and 22CARC001-008) continue to show good continuity of higher-grade copper mineralisation within the Bindi Hinge, Bindi East and Bindi West positions.

The results show consistent grades along strike and across the mineralised zones. Copper grades within the Bindi Hinge and Bindi East starter pits show wide zones well above the Bindi Measured Resource grade of 0.27% Cu (using 0.1% Cu cut-off), supporting the selection of these areas for early mining activities. The exploration RC percussion drilling (22CARC009-014) was undertaken to target a potential "up-dip" extension of the Bindi Lower Limb.

Drilling at Bindi Far East approximately 300-500m east of the Bindi East Limb targeted strongly anomalous AC drilling results in that area. The Bindi Lower Limb has been interpreted based on structural measurements from diamond drill core which has defined the South-East Synform fold hinge below the East Limb. The sulphide mineralization intersected in the latest drilling may represent the attenuated Bindi Lower Limb.

The zone between the South-East Synform hinge and the Bindi Far East AC drilling anomaly has not been drill tested. The significance of the mineralisation seen in holes 22CARC012-014 is unclear, it may represent a new mineralised horizon that parallels the better defined Bindi East Limb. Assays are awaited for further RC percussion drilling at Bindi West (22CARC015-030).

In addition diamond core holes drilled into the Bindi deposit (22CADD001-004) will provide material for metallurgical test work.