Carnavale Resources Starts Western Australia Gold Project Bankable Feasibility Study Drilling Programs; Shares Jump 8%

MT Newswires Live

02/04

Carnavale Resources (ASX:CAV) started bankable feasibility study drilling programs at the Kookynie gold project in Western Australia, with six diamond drill holes underway to recover 150 kilograms of core for metallurgical test work, according to a Wednesday Australian bourse filing.

The company contracted Terra Drilling to provide diamond drilling services, the filing. said. The program also includes eight geotechnical diamond holes to inform slope assumptions at the Swiftsure and Tiptoe open pits.

A further two reverse circulation rigs in the coming weeks will undertake infill resource drilling across the two proposed open pits.

The study is expected to be finalized in the third quarter, the filing said.

Carnavale Resources' shares rose 8% in recent trading on Wednesday.

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