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Carnavale Resources sets stage for strong Kookynie Gold Project newsflow

The company has completed an aircore drilling program targeting high-grade gold mineralisation and has submitted all samples to the laboratory for multi-element analysis plus gold fire assay.

Carnavale Resources Ltd - Carnavale Resources sets stage for strong Kookynie Gold Project newsflow
Carnavale acquired the Kookynie high-grade gold project on August 4, 2020.

Carnavale Resources Limited (ASX:CAV) (FRA:YBB) has set the stage for strong newsflow from the high-grade Kookynie Gold Project, around 60 kilometres south of Leonora in the West Australian Goldfields after completing soil sampling, an aeromagnetic survey and extensive aircore drilling.

Most recently the company has completed an aircore drilling program of 139 holes for 6,539 metres targeting structurally controlled high-grade gold mineralisation.

All samples have been submitted to the laboratory for multi-element analysis plus gold fire assay.

Fast-track exploration

Executive chairman Ron Gajewski said: “Carnavale has delivered on its goal to fast-track exploration at Kookynie, with a large soil program completed, a detailed aeromagnetic survey completed over the tenement package, followed swiftly by a substantial aircore program, within four-and-a-half months of acquisition.

“We look forward to the results of our first drilling campaign at the Kookynie Gold Project in the New Year.

“The Kookynie area has produced some outstanding results adjacent to and along strike from our highly prospective tenement package.”

Kookynie is along strike and adjacent to Nex Metals Explorations Ltd (ASX:NME) and Metalicity Ltd’s (ASX MCT) high-grade Leipold, McTavish Cosmopolitan and Champion deposits.

Phase one aircore drilling

The phase one aircore drilling program was designed to test the potential of structural features identified in a recent detailed aeromagnetic survey to host high-grade gold.

This program tested structural targets under alluvial cover and confirmed that the depth of alluvial cover ranged from 5 metres to 40 metres.

High-resolution aeromagnetic survey

A recently completed high-resolution aeromagnetic survey was used to update the interpretation of the bedrock geology within the project and has been used to identify multiple structural targets.

A comprehensive soil sampling program of 1,180 samples has been completed over the residual soil domains at the Kookynie project with aircore drilling focused on targets undercover.

The tenement package is underexplored with multiple structurally controlled targets located under the alluvial cover.

Quick facts: Carnavale Resources Ltd

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Market: ASX
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