en.Wedoany.com Reported - Caravel Minerals (ASX:CVV) has completed the mining component of the Definitive Feasibility Study (DFS) for the Caravel Copper Project in Western Australia, prepared by Mining Plus. The updated ore reserve stands at 597 million tonnes at a copper grade of 0.24%, containing 1.42 million tonnes of copper, reported on June 19, 2026, using a 0.10% copper cut-off grade.

The project plans to employ conventional open-pit truck and shovel operations, developing the Bindi and Dasher deposits in stages, commencing with Bindi. To mitigate risks during pre-stripping and early mining phases, Caravel intends to initially engage a tier-one mining contractor before transitioning to owner-mining. The mine has selected a super-large loading and haulage fleet, including 300-tonne class haul trucks and shovels exceeding 600-tonne class, designed to support a transition to autonomous haulage.

The ore reserve composition includes 156 million tonnes of proven reserves (0.25% copper) and 441 million tonnes of probable reserves (0.23% copper). Of this, the Bindi deposit accounts for 506 million tonnes (0.23% copper), and the Dasher deposit accounts for 91 million tonnes (0.26% copper). Pre-stripping activities will commence approximately 20 months before the first ore is delivered to the primary crusher, ensuring sufficient ore exposure and providing construction materials for key infrastructure.

The mining plan adopts a staged development strategy to reduce upfront capital expenditure, simplify early operations, and balance the stripping ratio, ensuring a continuous ore supply. The Caravel Copper Project is located in the Wheatbelt region of Western Australia, approximately 150 kilometres northeast of Perth, with total mineral resources of 1.28 billion tonnes at a grade of 0.24% copper, containing 3.03 million tonnes of copper. Additionally, Caravel Minerals holds a broader portfolio of exploration projects in Western Australia.