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Caravel Minerals Ltd.
Summary
| Project: | Calingiri | |
|---|---|---|
| Deposit: | Calingiri | |
| Location: | Australia | |
| Commodities: | Copper-Molybdenum-Silver-Gold | |
| Date: | 6/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 28-6-2016: Caravel Minerals Ltd. announces a Scoping Study report for its Calingiri deposit at the Calingiri project. Scoping study results incl. pre-tax NPV (7%) of $800M, LOM operating cash surplus of A$1.5B. The CSS describes the Mineral Resource estim | |
| Resources: | (Resource, I+I): 251Mt @ 0.34% Cu (0.38% CuEq.) (at a 0.25% Cu cut-off) | |
| CP/QP: | [Resources]: David Williams, Tony Poustie (CSA Global Pty Ltd.;Internal) | |
| ABSTRACT: | The CSS describes the Mineral Resource estimation and economic analyses to a Scoping Study level for Calingiri, located 120km northeast of Perth in Western Australia. Calingiri consists of 17 tenements covering 760 sq. km. Calingiri is held by Quadrio Resources Limited. This company is a wholly owned subsidiary of Caravel, an Australian listed company. “This detailed Scoping Study demonstrates that the Calingiri Copper Project is set to be an outstanding WA copper project. Strong production rates, a long Life of Mine together with low Capex and Opex will likely deliver robust margins and cashflow. We are confident that Calingiri’s strong economic and technical merits will enable us to secure the funding required on attractive terms with our current Tier 1 Farm-In partner in First Quantum Minerals, a highly regarded and rapidly growing global resources group operating six mines and developing five projects worldwide. They currently produce copper, nickel, gold, zinc and platinum group metals. This may help ensure Calingiri delivers strong returns for Caravel shareholders. Our forward strategy is focused on the Pre-Feasibility Study that is expected in H1 next year and we intend to continue an aggressive exploration campaign to unlock the full value of the project area.” – Caravel CEO, Marcel Hilmer | |
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