Carnavale (ASX:CAV) cracks fresh rock discovery at Kookynie in Goldfields

Carnavale (ASX:CAV) cracks fresh rock discovery at Kookynie in Goldfields

April 2, 2024 Off By Jack Baker

Carnavale Resources has made a fresh rock discovery of shallow high-grade gold 200 metres away from the McTavish East prospect now being prepped for a maiden resource at its Kookynie project southbound of Leonora in the West Australian Goldfields.

The newly minted Tiptoe prospect was discovered with strikes of up to 5m at 4.91 grams per tonne gold from 87m.

Meanwhile the 14-hole 1694m RC campaign also returned extensions to high-grade mineralisation at the project’s Champion South prospect.

Mineralisation remains open along strike and down-dip at both prospects, with Carnavale Chief Executive Humphrey Hale saying the company was excited for exploration as it worked to establish a maiden resource and mining option study at McTavish East.

“We anticipate the development will comprise of both open cut and underground mining and utilise an existing third-party processing plant,” Hale said.

“These new shallow high-grade gold results in fresh rock represent (a) new target and provide exciting new resource targets along strike from the bonanza style mineralisation at McTavish East.

“Exploration continues with the recently completed aircore program targeting additional high-grade structural gold targets at Kookynie.”

The maiden estimate and mining study are due in the June quarter of 2024 alongside assay results from 4249m of exploration aircore drilling, with more metallurgy also underway to simulate processing plant recoveries.

Carnavale came to the Kookynie-Leonora area, with its highly prospective nature long-proven in past and present high-grade mines, believing that a geological cover sequence and highly weathered bedrock had masked the potential for high-grade discoveries in fresh rock.

The company’s objective at Kookynie is discovery of high-grade resources for trucking to nearby processing plants, with the adjacent historic 360,000 ounce  Cosmopolitan mine the gold standard, with its 15g/t grading.

Aeromagnetics and geochemistry have shown the major structural targets which offer potential repeats of McTavish East, and Carnavale believes the mineralisation encountered at Champion South could possibly host multiple high-grade shoots similar to its starring prospect.

Significant results

Tiptoe

  • 5m @ 4.91g/t Au from 87m in MERC118 (inc. 1m @ 20.3g/t)
  • 4m @ 2.91g/t Au from 80m in MERC112
  • 3m @ 3.13g/t Au from 97m in MERC114
  • 6m @ 1.41g/t Au from 83m in MERC117
  • 4m @ 1.63g/t Au from 47m in MERC111

Champion South

  • 3m @ 6.83g/t Au from 107m in MERC108

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

We are a boutique environment – the home of uncompromisingly high-quality brands spanning news, opinion, and interaction, priding ourselves on promoting discussion and understanding that facilitates growth. We work closely with our clients to really understand what they are trying to achieve and use best practice available to do that!

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005
info@marketopen.com.au

Stewart Walters
Managing Director
stewart@marketopen.com.au
+61 414 644 166

Amanda Ellis
Chief Content Producer
amanda@marketopen.com.au
+61 438 003 868

Important links

Follow us