Join our daily newsletter At The Bell to receive exclusive market insights
- Carnavale Resources (CAV) has completed a phase three aircore drilling program at the Kookynie Gold Project in Western Australia
- Drilling began earlier in the month with aims to infill high-grade intercepts and provide targets for reverse circulation drilling
- Pleasingly, the first two phases identified three main areas of significant gold anomalism in the weathered profile
- All samples from the phase three drilling have been sent to the laboratory for multi element assay and first results are expected towards the end of June
- Shares in Carnavale are up a healthy 16.7 per cent and are trading at 0.7 cents
Carnavale Resources (CAV) has completed a phase three aircore drilling program at the Kookynie Gold Project in Western Australia.
The Kookynie Project lies 60 kilometres south of Leonora and has been subject to limited exploration.
Phase three drilling began earlier in the month with aims to infill high-grade intercepts and provide targets for reverse circulation (RC) drilling.
The first two phases of drilling identified three main areas of significant gold anomalism in the weathered rock profile.
This drilling also returned results of two metres at 16.25g/t gold from 54 metres, one metre at 4.54g/t gold from 31 metres and two metres at 3.43g/t gold from two metres.
All samples from the phase three drilling have been sent to the laboratory for multi-element assay and first results are expected towards the end of June.
“Carnavale continues to fast-track exploration at the Kookynie Gold Project,” Executive Chairman Ron Gajewski said.
“It is fortunate that we have a great team to complete our programs and are very pleased to be infill drilling around the high-grade gold intercepts and strong gold anomalies identified in our earlier drill programs,” he added.
Shares in Carnavale are up a healthy 16.7 per cent and are trading at 0.7 cents at 3:46 pm AEST.
