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Caravel Minerals Limited (ASX:CVV)

ALERT: Price-sensitive ASX Announcement for CVV
Current share price for CVV : $0.240 0.005 (2.13%)+
Announcement
Release
17 Jul 2026 8:22AM
Price at Release
$0.235
Full Release
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Summary
Caravel Minerals Limited has completed the Mining component of its Definitive Feasibility Study for the 100% owned Caravel Copper Project in Western Australia. Prepared by Mining Plus, the study updates the Ore Reserve to 597 million tonnes at 0.24% copper. The project will use conventional open pit methods with initial mining operations managed by a tier-one contractor, transitioning to owner mining. An ultra-class haul and load fleet is planned, and the project aims for eventual autonomous haulage operations. Ore production is set to commence 20 months following pre-strip activities, employing minimal stockpiling strategies.
Key Points
  • Caravel Minerals Limited completed the Mining component of the Definitive Feasibility Study (DFS) for the Caravel Copper Project.
  • The mining study was prepared by Mining Plus and supports an updated Ore Reserve of 597 million tonnes at 0.24% copper.
  • The Caravel Copper Project is located in the Wheatbelt region of Western Australia.
  • The mining method involves a conventional open pit, truck, and shovel operation.
  • Bindi and Dasher deposits will be developed in stages, starting with Bindi.
  • The project plans to transition to owner mining after initially engaging a tier-one mining contractor.
  • An ultra-class fleet with 300-tonne-class haul trucks and 600-tonne-plus class shovels is selected for load and haul operations.
  • The mine plan supports a potential transition to autonomous haulage.
  • The Ore Reserve is estimated at a 0.10% Cu cut-off grade, with production set to begin 20 months after pre-strip activities.
  • The project is aiming for minimal reliance on stockpiling with a significant run-of-mine stockpile for operational resilience.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.