Join our daily newsletter At The Bell to receive exclusive market insights
- Carnavale Resources (CAV) delivers its highest grade gold to date from Ora Banda South in Western Australia
- The company underwent its third aircore program at the project, drilling 105 holes to follow up previously intercepted gold at the Carnage and Highlander prospects
- Results from the program included four metres at 30.2 g/t gold from 44 metres and seven metres at 5.95 g/t gold from 80 metres
- The company says it now looks to target the fresh rock source with a reverse circulation drilling program
- Carnavale Resources is up 8.33 per cent, trading at 0.7 cents at 2:31 pm AEDT
Carnavale Resources (CAV) has delivered its highest grade gold to date from Ora Banda South in Western Australia.
The company underwent its third aircore program at the project, drilling 105 aircore holes for 8885 metres to follow up previous gold intercepts at the Carnage and Highlander prospects.
The drilling identified gold anomalies and structural targets under alluvial cover, with shallow bedrock gold results confirming a gold-bearing system with a strike length of 15 kilometres.
Results from the program included four metres at 30.2 grams per tonne (g/t) gold from 44 metres and seven metres at 5.95 g/t gold from 80 metres.
Further results included four metres at 1.22 g/t from 88 metres and 11 metres at 0.37 g/t from 72 metres.
“We are excited about the results from this third aircore program at Ora Banda as they represent the highest-grade results from the project to date,” CEO Humphrey Hale said.
“This drilling has provided better definition to the substantial gold anomalies that cover multiple kilometres of strike along the Carnage Shear.”
“We are keen to target the fresh rock source with a reverse circulation drilling program.”
Carnavale Resources was up 8.33 per cent, trading at 0.7 cents at 2:31 pm AEDT.
