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.
Looking ahead, Carnavale Resources chairman Ro Gajewski said Carnavale remained focused on exploring for new discoveries.
At the end of the June quarter, it had more than $3.5 million in the bank to execute the exploration strategy across the Kookynie, Ora Banda South, Barracuda and Grey Dam projects.
Kookynie Gold Project
Moving into the September quarter, Carnavale intends to continue its extensive exploration program.
- Reverse circulation drill testing at depth and along strike from the shallow high-grade gold mineralisation defined by the recent aircore drilling;
- Interpretation of the multi-element geochemistry and drainage anomalies to provide further understanding of the morphology of the mineralising systems; and
- Identify additional targets within the Kookynie tenement package.
Over the June quarter, the company received results from the second aircore drilling program at Kookynie and completed a third round of aircore exploration.
The second 117-hole, 5,967-metre aircore campaign targeted structurally controlled, high-grade gold mineralisation that has been identified in several areas of anomalism across the project.
Following that, Carnavale’s third aircore program covered 135 holes, for 7,432 metres, to chase up the anomalies identified during earlier work programs.
Some of the best intersections from that program included:
- 4 metres at 31.08 g/t gold from 96 metres and ending in mineralisation;
- 2 metres at 32.5 g/t from 18 metres; and
- 2 metres at 16.3 g/t from 10 metres.
Promisingly, high-grade gold mineralisation was intersected at Kookynie’s McTavish East prospect over a 550-metre stretch. This remains open to the northeast and at McTavish North over a 240-metre stretch, where it remains open to the north.
Overall, Carnavale believes the McTavish area has the potential for stacked higher grade lodes within each target. Specifically, the project area contains many similar structural targets with anomalous gold and multielement targets, which require further follow-up drilling to test the bedrock under a thin veneer of transported cover.
Gajewski continued: “We are delighted to have successfully outlined new high-grade gold zones with bonanza grades under shallow cover at Kookynie.
“We are eager to grow these zones with RC drilling as soon as we can mobilise an RC rig to site.
“In the meantime, we will start aircore drilling at the highly prospective Ora Banda Gold Project next month, with the heli-borne versatile time-domain electromagnetic survey (VTEM) booked for the Barracuda PGE-nickel-copper project in early quarter four.”
Barracuda PGE-nickel-copper project
Over at the Barracuda asset, Carnavale is preparing for electromagnetic (EM) surveying and drill testing to follow up on work conducted over the June quarter.
Its proposed work program includes:
- Flying the project area with airborne EM surveying;
- Digitally capturing the Pancontinental soil geochemistry and contouring the PGE, nickel and copper data to define metal anomalous trends;
- Following up airborne EM anomalies with ground EM, with priority given to areas with established, coincident PGE-copper-nickel soil anomalism; and
- Drill testing targets, subject to results.
Last quarter, Carnavale completed an initial site visit and sampled the outcropping chromitite, returning assay results like 3.45 g/t 4PGE and 3.38 g/t 4PGE.
PGE-sulphide minerals were also identified by a WA geological survey within the project area. To date, no ground electromagnetic or induced polarisation geophysical surveys have been conducted over the region.
Ora Banda South and Grey Dam
Outside of its work at Kookynie and Barracuda, Carnavale is also exploring its Ora Banda South Gold Project and the Grey Dam Nickel Sulphide Project.
During the quarter, exploration at Ora Banda South included a soil sampling program over the residual soil profile, targeting regolith gold in soil anomalies that have been created by structurally controlled bedrock gold mineralisation at depth.
Meanwhile, exploration for nickel sulphide mineralisation continues at the Grey Dam Nickel Sulphide Project.
Carnavale also completed a soil sampling program using the Ultra Fine Fraction (UFF) soil sampling and assaying technique that the company has been working with the CSIRO to develop.
Ultimately, the aim of the soil sampling program is to help explore for nickel sulphide mineralisation.