Caravel Minerals (ASX:CVV) has completed the mining component of its Definitive Feasibility Study (DFS) for the Caravel Copper Project in Western Australia.
The mining study, prepared by Mining Plus, supports the updated ore reserve of 597 million tonnes (Mt) at 0.24% copper (Cu) for 1.42Mt of contained Cu, reported on 19 June 2026. The reserve uses a 0.10% copper cut-off grade.
The project is planned as a conventional open-pit truck-and-shovel operation developing the Bindi and Dasher deposits in stages, commencing at Bindi.
Caravel intends to de-risk pre-strip and early mining stages by engaging a tier-one mining contractor before transitioning to owner mining.
An ultra-class load and haul fleet has been selected, comprising 300-tonne-class haul trucks and 600-tonne-plus-class shovels. The mine plan is designed to support a transition to autonomous haulage.
The ore reserve comprises 156Mt of proved reserves at 0.25% Cu and 441Mt of probable reserves at 0.23% Cu. Bindi contains 506Mt at 0.23% Cu, while Dasher holds 91Mt at 0.26% Cu.
Pre-strip activities commence approximately 20 months ahead of first ore to the primary crusher to provide sufficient ore exposure and supply construction material for key infrastructure.
The mine plan adopts staged development to reduce upfront capital, simplify early operations, and level the strip ratio to provide consistent ore feed.
The Caravel Copper Project is located in Western Australia’s Wheatbelt region, approximately 150km north-east of Perth, hosting a mineral resource of 1.28 billion tonnes at 0.24% copper for 3.03 million tonnes of contained copper.
Caravel Minerals also holds a broader portfolio of exploration projects across Western Australia.
Write to JC Villarba at Mining.com.au
Images: Caravel Minerals
