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Australia
Caravel Project

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 Location:
130 km NE from Perth, Western Australia, Australia

  Project Contacts:
Suite 1, 245 Churchill Avenue, Subiaco
Perth
Western Australia, Australia
6008
Phone  ...  Subscription required
EmailEmail
WebsiteWeb
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  • Overview
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  • Fleet
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  • Filings & News

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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Copper
  • Silver
  • Molybdenum
Mining Method
  • Truck & Shovel / Loader
Mine Life28 years (as of Jan 1, 2022)
The Caravel Copper Project is one of Australia’s largest undeveloped copper projects with excellent metallurgy and a long mine life.


Owners

Source: p. 40
CompanyInterestOwnership
Caravel Minerals Ltd. 100 % Indirect
The tenements are held 100% by Caravel Minerals.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Metamorphic hosted
  • Vein / narrow vein
  • Porphyry


Summary:

Mineralisation at the Caravel Copper Project is hosted by a highly deformed Archaean granite and considered to originate as a large porphyry copper system.

The granite host rock, the inferred pre-metamorphic mineral assemblages and general scale and style are all consistent with the porphyry copper model. The broader geological setting is also consistent with a porphyry style of mineralisation, with the 30km mineralised trend following the margins of granite batholith of similar scale, referred to as the Wongan Batholith.

Outhwaite (2017) describes in detail age dating work and the tectonic history of the project area. Host granites and associated mineralisation have been dated at around 3.0 Ga, with subsequent deformation and metamorphism around 2.7 Ga, coincident with the regional deformation and gold mineralisation at Kalgoorlie and the wider Yilgarn goldfields, as well as the Boddington gold deposit.

Copper occurs almost exclusively as chalcopyrite sulphides associated with quartz veins. Copper grade is largely determined by the frequency and thickness of the veins, which may be semi-massive chalcopyrite up to several cm thick, though mostly the sulphide veins are more attenuated and in the range of mm thick following the main foliation. The frequency of veins or sulphide bands also varies on the scale of meters and tens of meters, where copper grades may range up to 0.6% over thicknesses of tens of meters with lower grades or waste in be ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining plan is based on an owner-operator model due to the long mine life and the opportunity to utilise technologies such as automation and electric drives that are not currently available with contract mining. Both automation and electrification of the mine fleet require a high level of integration with other mine functions as well as offering significant opportunities for offering better work environments and attracting staff, further supporting the decision to adopt an owner-operator model.

The mine method will be conventional open-pit extraction using RC grade control drilling and autonomous platform rigs for blast hole drilling. Load and haul is based on manned electric shovels and backhoes loading autonomous diesel-electric trucks using trolley assist for grid powered electric drive on ramps and long hauls for both ore and waste.

Initial mine development and overburden pre-strip will provide materials including sand, gravel, aggregate and rock for construction of the Tailings Management Facility (TMF), site roads, Run-of-Mine (ROM) pad and concrete foundations which will lower material sourcing, handling costs and construction time frames.

The Bindi and Dasher deposits have wide ore zones suitable for a bulk mining strategy avoiding the requirement to markup the ore zones for excavation and allowing larger mining equipment. Trade-off studies by Orelogy determined the mining units should be dimensions of 12.5m x 12.5m x 5m with 10 me ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. Annual
Copper kt 62
All production numbers are expressed as concentrate.

Operational Metrics:

Metrics
Ore tonnes mined  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Annual processing rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at November 23, 2021:
Project Mineral Resource and Reserve using 0.1% Cu cut-off.

CategoryTonnage CommodityGradeContained Metal
Proven 105.4 Mt Copper 0.27 % 0.28 Mt
Probable 478 Mt Copper 0.24 % 1.14 Mt
Proven & Probable 583.4 Mt Copper 0.24 % 1.42 Mt
Measured 105.2 Mt Copper 0.27 % 287,300 t
Measured 105.2 Mt Molybdenum 67 ppm
Indicated 574.1 Mt Copper 0.24 % 1,390,200 t
Indicated 574.1 Mt Molybdenum 47 ppm
Inferred 501.3 Mt Copper 0.23 % 1,166,200 t
Inferred 501.3 Mt Molybdenum 45 ppm
Total Resource 1,181 Mt Copper 0.24 % 2,843,700 t
Total Resource 1,181 Mt Molybdenum 48 ppm

Commodity Production Costs:

CommodityUnitsAverageAverage
Credits (by-product) Copper USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Copper USD  ......  Subscription required&nbs
C1 cash costs (sold) Copper USD  ......  Subscription required *†
Assumed price Copper USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t milled) USD 2.19 *
Processing costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M AUD  ......  Subscription required
Net revenue (LOM) $M AUD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscription required
Pre-tax NPV @ 7% $M AUD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Water Supply

Caravel will secure water supply for the Project via a combination of developing new water resources and purchasing existing allocations. A remote borefield will be developed and licenced to supply water to the Project.

New regulatory licence applications have been prepared and lodged with regulators to secure the newly identified water resources and Caravel is developing the appropriate groundwater models and completing the required environmental studies to support the licence applications.

Once abstracted the water from the borefield will be transported to site via a below-ground pipeline. The final pipeline route and detailed design will be completed during the DFS. The borefield and pipeline development will be a significant new regional infrastructure project that has potential benefits for local stakeholders including landowners and local Bush Fire Brigades along the pipeline route.

The drilling program and development of the groundwater model will be completed in H1 2023 with a target of securing water abstraction licences for 16GL/year of water supply in H2 2023.


Proposed Heavy Mobile Equipment as of July 12, 2022:
HME TypeSizeQuantity
Dozer 120 t ....................... Subscription required
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....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 24, 2023
....................... Subscription required ....................... Subscription required Subscription required Jan 24, 2023
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2021
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
Corporate Presentation 2022
Pre-Feasibility Study Report 2022
Pre-Feasibility Study Report 2022
................................... Subscription required 2021
................................... Subscription required 2019
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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