Caravel Minerals (ASX:CVV) said it developed a simplified process flowsheet that yields high-grade copper, molybdenum, and precious metals, enabling cost savings in the definitive engineering study for the Caravel copper project in Western Australia, according to a Wednesday Australian bourse filing.
Testwork confirmed a copper recovery of 86%, yielding around 303,000 tonnes per year of 22% copper concentrate and molybdenum recovery of 43%, yielding around 1,128 tonnes per year of 52% molybdenum concentrate.
It also yields an annual average of 14,600 ounces of gold and 664,700 ounces of silver within the copper concentrate, as well as 1,128 tonnes of molybdenum in a separate saleable concentrate.
The new design allows for cost reduction by streamlining the plant design and balancing grind size for energy savings. It adopts a conventional crush, grind, and flotation flowsheet while eliminating secondary crushing.
Its shares rose 15% in recent trading on Thursday.
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