West Australian explorer Caravel Minerals has posted a 52% increase in contained copper at its namesake project, boosting its hopes of establishing a long-life, low-cost mining operation on agricultural land in the WA Wheatbelt 160km NE of Perth.
A review by resource consultancy Trepanier of 10 years of drilling campaigns established a measured-indicated-inferred JORC resource of 366.3Mt @ 0.35% for 1.28Mt copper.
Caravel says the estimate will be the basis of an updated scoping study due next month.