Caravel Minerals (ASX:CVV) postponed the release of a definitive feasibility study for its Caravel copper project in Western Australia to the fourth quarter from September, according to a Friday filing with the Australian bourse.

The delay comes as an additional metallurgical test-work program of about eight weeks is underway, and the company also aims to complete numerical groundwater modelling within the revised timeframe, per the filing.

While the environmental review document for the project is "substantially complete," it will be updated to incorporate recently completed survey results and water supply modelling, the company said. Meanwhile, the process plant capital cost estimate will be fully reviewed by the company before it is added to the study.

The project's final investment decision is targeted for the end of 2027.