Carnavale Resources looks to unlock high-grade gold potential of Kookynie Project in WA
Last updated: 12:32 20 Feb 2024 AEDT, First published: 08:11 19 Oct 2020 AEDT
Snapshot
- Carnavale Resources hits up to 84.5 g/t gold at McTavish East with maiden resource on the way
- Carnavale Resources looks to future exploration following June quarter work program
- Carnavale Resources hits bonanza gold grades at McTavish East
About the company
Carnavale Resources Limited (ASX:CAV) is a Western Australia-based resources company focusing on exploration and development projects with prospectivity for gold, nickel, precious metals and strategic minerals associated with the electric vehicle battery sector.
The company has four exploration projects — the Kookynie Gold Project, the Ora Banda South Gold Project, the Grey Dam Nickel Project and the Barracuda Copper-Nickel-PGE Project — targeting high-grade gold and nickel sulphides close to Kalgoorlie in WA’s Goldfields.
How it is doing
Carnavale Resources Ltd (ASX:CAV) has fielded further strong gold results with bonanza grades up to 84.5 g/t as it heads toward a maiden mineral resource estimate at McTavish East prospect within the Kookynie Gold Project in Western Australia.
Reverse circulation (RC) and diamond drilling completed in December 2023 returned more strong results which CEO Humphrey Hale said had confirmed the continuity of the bonanza grades at McTavish East.
This drilling confirmed and infilled significant high-grade plunging gold zones at the prospect, which is about 60 kilometres south of Leonora. Results include:
Very high-grade plunging shoots have now been defined for 250 metres down dip by close-spaced RC and diamond drilling while new shoots have been defined from isolated high-grade intercepts within the known 700-metre zone with potential to expand.
Carnavale Resources Ltd (ASX:CAV) has completed reverse circulation (RC) and diamond drilling at its Kookynie Gold Project, including a 29-hole, 4,169-metre RC program at the McTavish East Prospect where the company identified high-grade plunging shoots in previous fresh rock drilling.
The company has produced excellent results from McTavish East which CEO Humphrey Hale highlights below:
Carnavale Resources Ltd (ASX:CAV) is set to focus on its core gold assets after entering an option agreement for the sale of 80% of its Grey Dam Nickel-Cobalt Project to Trans Pacific Energy Group Pty Ltd (TPEG).
The divestment of Grey Dam includes licences M28/387 and E28/1477, close to Kurnalpi in Western Australia, and is part of CAV’s strategy of crystallising value from non-core exploration assets.
Insight: Carnavale Resources looks to future exploration following June quarter work...
Carnavale Resources Limited (ASX:CAV) has recapped its June quarter activities as it continues the hunt for the next high-grade gold, platinum group element (PGE) and nickel sulphide deposits in Western Australia.
The ASX-listed explorer will conduct reverse circulation (RC) drill testing, electromagnetic surveying soil sampling across its precious and base metal assets for the remainder of 2021 following exploration in FY21’s final quarter.
What management says
Carnavale Resources Ltd (ASX:CAV) CEO Humphrey Hale joins Jonathan Jackson in the Procative studio to discuss bonanza gold grades up to 84.5 g/t at the McTavish East prospect within the Kookynie Gold Project in Western Australia. The results come from reverse circulation (RC) and diamond drilling completed in December 2023. Drilling confirmed and infilled significant high-grade plunging gold zones at the prospect, which is very close to Genesis Minerals (ASX:GMD)’ Ulysses Project. These results give the company the confidence to commission a maiden resource estimate. Carnavale has also started an aircore and RC drilling program to further explore the area.