- Carnavale Resources (CAV) confirms the scale of recently-discovered prospects at the Ora Banda South project in WA
- The company received results from phase two aircore drilling which uncovered the Carnage, Highlander and Ghan Dam prospects within a 15-kilometre gold trend
- This drilling has shown Highlander covers a two-kilometre by 400-metre area that remains open and Carnage covers 2.5 kilometres by 500 metres and also remains open
- Carnavale is planning a follow-up reverse circulation drilling program which is targeted for the third quarter
- Carnavale Resources shares dropped 10 per cent to trade at 0.9 cents at 11:46 am AEST
Carnavale Resources (CAV) has received results from a phase two aircore drilling program at the Ora Banda South gold project in Western Australia.
The 176-hole drilling effort followed up on strong gold mineralisation which confirmed a gold bearing system extending for 15 kilometres of strike. This system highlighted three new prospects including Carnage, Highlander and Ghan Dam.
Carnavale has received assays from the Carnage and Highlander prospects with Highlander returning four metres at 2.49 grams per tonne (g/t) gold from 48 metres, and four metres at 0.82 g/t gold from 52 metres.
The Highlander prospect extends for two kilometres of strike, is up to 400 metres wide and remains open.
Results from the Carnage prospect include four metres at 2.69 g/t gold from 36 metres, four metres at 0.97 g/t gold from 36 metres, and eight metres at 0.58 g/t gold from 32 metres.
Based on drilling thus far, the Carnage prospect hosts a gold anomaly up to 500 metres wide and 2.5 kilometres long, and remains open to the northeast, south and southwest.
CEO Humphrey Hale said the latest aircore program successfully confirmed the scale of the prospects identified in phase one drilling.
“This wide-spaced program has provided additional definition to the gold anomalies in the regolith and improved confidence along strike,” Mr Hale said.
“A reverse circulation (RC) drilling program at Carnage and Highlander is planned to define scope of the shallow bedrock gold mineralisation in the top 200 metres from surface.”
Subject to rig availability, Carnavale hopes to commence RC drilling in the third quarter of 2022.
Carnavale Resources shares were down 10 per cent to trade at 0.9 cents at 11:46 am AEST.