Carnavale Resources kicks off Kookynie BFS drilling

Carnavale Resources (ASX:CAV) has begun an H1CY26 drilling program to support the bankable feasibility study (BFS) at its Kookynie gold project (KGP), which lies just north of Kalgoorlie in Western Australia.

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Terra Drilling has been contracted to provide a diamond drilling rig and services to start the BFS detailed metallurgical diamond drilling program. A further two reverse circulation rigs will also be looped into the BFS program rigs to undertake infill resource drilling across the two proposed open pits.

Carnavale’s CEO, Humphrey Hale, said the BFS drilling will include metallurgical and geotech diamond holes to inform slope assumptions at Swiftsure and Tiptoe’s open pits. The explorer’s infill RC resource drilling will cover 9,000 metres.

“Carnavale has been busy during January in preparation for the extensive drilling that has kicked off at the Kookynie gold project this week,” Mr Hale said.

The CEO said the company’s Native Title and Mining Agreements had received support from the Wangkatja Tjungula Aboriginal Corporation (WTAC), representing the Nyalpa Pirniku native title holders.

“With co-operation from WTAC representing the Nyalpa Pirniku people, we were able to complete heritage surveys across the proposed development area and clear the required drill pads for all of the planned BFS drilling programs in preparation for a quick start to drilling in 2026,” he said.

“This enables Carnavale to fast-track the BFS and bring the KGP to a shovel-ready project by Q3 this year. Carnavale is well funded to complete all this planned work.”

Samples from drilling programs will also be used for metallurgical variability testwork and waste rock characterisation studies.

A separate program of four water bores, three production bores and a monitoring bore is planned for dewatering purposes and is expected to start in March.

“The BFS is to be finalised in Q3CY26 and deliver a significantly derisked, high-grade and ‘shovel-ready’ initial open pit scenario with subsequent underground opportunity, subject to final approvals,” Mr Hale said.

CAV was up +9.1% in trading at 13cps.

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