CaravelMinerals Ltd. said April 4 that it has completed the maiden mineralresource estimate for the Calingiri copper project in Western Australia, with over74% of the resource in the indicated category.
Caravel reported a maiden resource estimate of 251 milliontonnes grading 0.34% copper for 844,300 tonnes of copper. The estimate can bebroken down into indicated resources of 187 million tonnes grading 0.34% copperfor 626,300 tonnes of copper and inferred resources of 64 million tonnesgrading 0.34% copper for 218,000 tonnes of copper.
Resources remain open along strike and at depth, and includehigher-grade zones from near surface. The mineral resource consolidates theproject's Bindi, Dasher and Opie prospects.
Caravel CEO Marcel Hilmer noted that a scoping study isongoing for Calingiri, which will determine the most suitable mining scenariofor what the company believes is an economically robust copper project.