Caravel Minerals (ASX: CAV) has achieved a significant milestone in the development of its Caravel Copper Project by finalizing an optimized process flowsheet. This advancement, the result of four years of metallurgical studies, simplifies plant design and confirms high copper recoveries, setting the stage for substantial cost savings in the Definitive Engineering Study (DES). The streamlined flowsheet employs a conventional crush, grind, and flotation process, eliminating secondary crushing and opting for a SAG circuit over HPGR, which reduces complexity and capital expenditure. Testwork has validated the process, demonstrating 86% copper recovery, yielding approximately 303,000 tonnes per year of 22% copper concentrate. Molybdenum recovery stands at 43%, producing around 1,128 tonnes per year of 52% molybdenum concentrate.
In addition to copper and molybdenum, the project will benefit from precious metal credits, with annual averages of 14,600 ounces of gold and 664,700 ounces of silver contained within the copper concentrate. The flowsheet optimization is expected to lower costs by streamlining plant design and balancing grind size for energy efficiency. Key to the flowsheet’s efficiency is the first rougher flotation stage, which recovers up to 75% of the copper at a 25% concentrate grade. Lime, sourced domestically, is used as a pyrite depressant, enhancing copper recovery while keeping costs low. Independent reviews by Fluor, Sedgman, and OMC, along with bulk sample testing by ALS and IMO, provide metallurgical confidence and minimize operational uncertainties.
According to Managing Director Don Hyma, the final flowsheet selection reduces risks, supports cost-effective engineering, and strengthens the foundation for the DES. The flowsheet is designed for a +20-year mine life. The simplified, low-risk flowsheet, validated by independent experts, supports a +20-year mine life with up to 89% copper recovery and 20-22% copper concentrate grades, enhanced by gold and silver credits. The selection of a SAG circuit over HPGR further contributes to the flowsheet’s efficiency by lowering capital and operational complexity, while also allowing operational flexibility.
