Lilleyman appointed at Caravel

Experienced mining executive Greg Lilleyman has been appointed a strategic board adviser to Caravel Minerals as the company aims to enhance development of its flagship Caravel copper project, located in the Wheatbelt.

Mr Lilleyman is a former chief operating officer at Andrew Forrest-backed Fortescue, and also spent 25 years at Rio Tinto in various roles, which included president of the resource giant's Pilbara iron ore operations.

Presently, Mr Lilleyman also sits on the board of Global Lithium Resources. 

“I have followed Caravel’s progress of the project with great interest and am pleased to now have this opportunity to be involved at this important stage of final feasibility," he said.

“Caravel stands out against a handful of new copper projects globally, that has the near-term potential to become a major long-term producer. I am very excited to be working with the Caravel team to help move this project towards production.”

An ASX-listed company with copper, gold and base metal interests, Caravel told the market in November last year that the project's mineral resource estimate had been increased to 3.03 million tonnes of contained copper, along with 895,000 ounces of contained gold and 46.3 million ounces of silver.

Caravel said the estimate was upgraded following infill and resource definition drilling at the project's Bindi and Dasher deposits. Prior to this, the most previous estimate occurred on November 23 2021. 

Upon production, concentrate from the project will be driven and exported via either Bunbury or Geraldton ports. 

“We are particularly excited by Greg’s significant experience in designing and implementing next-generation technologies at mine sites," Caravel managing director Don Hyma said.

"These technologies are set to play a pivotal role in the Caravel project development, with a core focus within the Caravel board on maximising mining efficiencies, minimising costs, and maximising margins.

“Greg also brings significant experience and strong contacts to support our project finance strategy as we move towards the completion of a feasibility studies for the Caravel project.”

Caravel last traded at 15 cents per share, up 3 per cent, as of 11.39am AWST.