Carnavale Resources Limited (ASX:CAV) (FRA:YBB) is encouraged by results from a first pass 6,539-metre aircore drilling program at Kookynie Gold Project in the Western Australian Goldfields.
A total of 139 holes were completed at the underexplored project, targeting structurally controlled, high-grade gold mineralisation with the program completed on time and below budget.
All assays have been received and key results include:
- 7 metres at 1.89 g/t from 14 metres (including 4 metres at 3.24 g/t), ended in mineralisation;
- 8 metres at 0.51 g/t from 18 metres;
- 2 metres at 1.46 g/t from 22 metres and 6 metres at 0.29 g/t from 54 metres;
- 2 metres at 0.86 g/t from 52 metres;
- 4 metres at 0.37 g/t from 62 metres and 6 metres at 0.49 g/t from 70 metres;
- 12 metres at 0.21 g/t from 30 metres;
- 4 metres at 0.63 g/t from 20 metres;
- 10 metres at 0.23 g/t from 34 metres;
- 6 metres at 0.36 g/t from 46 metres; and
- 10 metres at 0.20 g/t from 26 metres.
“Strong results in new target areas”
Drilling identified three areas of significant gold anomalism associated with intervals of mineralisation within the weathered rock profile, with strong prospectivity for additional mineralisation open along structural corridors.
Carnavale chairman Ron Gajewski said: “Carnavale continues to deliver on its goal of fast-track exploration at the Kookynie Gold Project, with the initial drilling program completed successfully, we are ready to follow up these encouraging results.
“We are very pleased by the strong gold results received in the three new target areas and have a drill rig lined up to start finding the limits of these new anomalies.”
Carnavale tenement holding with production from historic deposits.
Gold anomalism regional relevance
Kookynie Project is along strike and adjacent to Nex Metals Explorations Ltd (ASX:NME) (FRA:41N) and Metalicity Ltd’s (ASX:MCT) (FRA:P8O) high-grade historic Leipold, McTavish, Cosmopolitan and Champion deposits.
Strong gold anomalism detected in the weathered profile is anticipated to provide a vector to high-grade gold mineralisation similar to that hosted by Cosmopolitan, Leipold and McTavish.
The gold anomaly to the north of NME and MCT’s McTavish tenement is characterised by several shallow old workings and pits.
Immediately to the east of NME and MCT’s McTavish tenement, Carnavale also discovered a gold anomaly with a strike length of over 1-kilometre.
The third broad gold anomaly is in the northern part of the tenement package, immediately south of NME and MCT’s Champion deposit, along the same structural corridor.
Carnavale is excited by these encouraging results and has an aircore drill rig booked for early March to follow up on the high priority targets.