viewCarnavale Resources Ltd

Carnavale Resources completes phase one drilling campaign at Grey Dam

The company has identified five priority targets to be drill tested and will commence a downhole electromagnetic survey (DHEM) on three of the targets in the December quarter.

Carnavale Resources Ltd - Carnavale Resources completes phase one drilling campaign at Grey Dam
Diamond drilling at Grey Dam

Carnavale Resources Limited (ASX:CAV) has completed the phase one drilling campaign targeting nickel sulphide at its Grey Dam Nickel Project, with all assays received.

The diamond drilling campaign comprised seven holes for a total of 1,701 metres, with three holes drilled with diamond core tails allowing deeper targets to be tested.

Gold intersections from the drilling include:

  • 8 metres at 0.32 g/t gold from 38 metres; and
  • 12 metres at 0.55 g/t from 52 metres in DD002A.

The samples have been analysed for a spectrum of multi elements, including nickel, gold, and platinum which the company believes are encouraging for the development of nickel sulphides within mafic/ultramafic package.

“Prospective for nickel suplhides”

Carnavale executive chairman Ron Gajewski said the understanding of the structural geology had been confirmed and improved by the recent drilling program.

He said: “The recent drilling program has enhanced our knowledge of the mafic/ultramafic package and the prospectivity of the geology for nickel sulphides at Grey Dam with the added benefit of highlighting the potential for shallow gold.

“The company remains committed to exploring for nickel sulphide at Grey Dam as the geology and geochemistry remain encouraging.”

Target areas simplified geology with EM priority conductors

Priority targets and gold anomaly

The company has identified five priority targets to be drill tested.

Target one and three have identified the EM conductor and require no further work.

Target two, four and five intersected the mafic and ultramafic package but have not closed off the opportunity for nickel sulphide mineralisation and will be surveyed by a downhole electromagnetic survey (DHEM) to test for the potential for the presence of off hole conductors adjacent to the drillhole.

Carnavale also intersected shallow gold mineralisation from 38 metres downhole in DDH002A which aligns with historic anomalous gold results in wide spaced aircore drilling, from previous explorers.

The company intends to review the existing drill data, geochemical data and aeromagnetic imagery to plan further testing of this new gold anomaly.

New gold Anomaly with local geology and EM conductor (mafic unit green and ultramafic unit purple and sediments brown)

Exploration going forward

The DHEM program is expected to be completed in the December quarter.

Carnavale has also planned a second phase of ultra-fine fraction (UFF) soils sampling to explore for nickel sulphide anomalism beneath shallow cover in the north-western part of the tenement package.

A follow up EM survey will be completed subject to results from the UFF soil program.

Quick facts: Carnavale Resources Ltd

Price: 0.007 AUD

Market: ASX
Market Cap: $14.3 m

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