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Caravel completes Wynberg gold resource sale to CopperChem for A$400,000

CaravelMinerals Ltd. said May 10 that it has completed the sale of theWynberg projectin Queensland, Australia, to CopperChem Ltd. for A$400,000.

The company executed the binding heads of agreement to sellEPM12409, which contains the Wynberg gold resource, in March.

Proceeds will be used to advance the company's flagship copper projectin Western Australia and for corporate purposes.