Carnavale Resources completes Heli VTEM Max survey at Barracuda PGE-Nickel-Copper Project
“The Windimurra Igneous Complex is a very large system that is anomalous in PGE, nickel and chrome within Carnavale’s Barracuda project,” says CEO.
Company
ASX:CAV
Carnavale Resources Ltd is a West Australian based, mineral exploration company. The company is focused on acquiring and exploring high quality and advanced exploration and development projects prospective for gold, nickel, PGE and strategic minerals associated with the electric vehicle battery sector including other new-age disruptive technologies. It has brought together a team of experienced exploration geologists, with a history of exploration success, to unlock the potential of Carnavale’s exciting exploration opportunities.
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“The Windimurra Igneous Complex is a very large system that is anomalous in PGE, nickel and chrome within Carnavale’s Barracuda project,” says CEO.
The company hopes to combine historical survey information, mapped in 1988 and then again in 2008, with the results of its current VTEM survey to confirm new drill targets.
“This initial RC program was designed to follow up bonanza gold intercepts in geological structures identified in recent aircore programs in the regolith. We look forward to the assay results in the new year,” says CEO.
"We are very excited to have discovered a new gold zone with bonanza grades … now we have begun to drill deeper with RC to unlock the high-grade gold potential at depth,” says MD.
The aim of the UFF soil sampling program is to define geochemical anomalism that can help Carnavale economically vector into target zones that could host Kambalda-style nickel sulphides under cover.
The aircore drilling program was designed to test targets identified by previous soil sampling program, previous aircore gold anomalies and structural targets under alluvial cover.
Ora Banda South’s geological setting is analogous to the +2.5 million ounces at +4g/t Invincible Gold Mine, discovered by Gold Fields Limited near Kambalda in 2012.
The company is encouraged with recent soil sampling results along the southern portion of Carnage Shear Zone, an area of limited historic drilling, which supports the potential to host a gold deposit.
The gold and nickel sulphide explorer has increased its holding in the Kookynie project, a relatively new exploration target in the heart of a gold camp that has historically produced over 650,000 gold ounces.
The precious and base metals explorer is ready to conduct further drilling, surveying and sampling work across its Western Australian exploration assets.
McTavish East prospect has returned up to 4 metres at 31.08 g/t from 96 metres and 2 metres at 32.5 g/t from 18 metres.
Securities will remain in a trading halt until Friday, July 16, 2021, or when an announcement is released to the market.
The program was designed to infill and extend the high-grade anomalies outlined in previous drilling in December 2020 and March 2021.
Humphrey Hale has already made a strong contribution to the company as a consultant and Carnavale is likely to benefit from his strong mix of exploration and corporate skills.
The third phase of aircore drilling has been designed to infill areas of identified gold anomalism at McTavish East, McTavish North and Champion South that contain high-grade gold intercepts.
The company has been granted ministerial consent for the transfer of the licence, which is around 60 kilometres east of Mt Magnet.
Carnavale’s strategy is to explore and define sufficient high-grade gold resources that can be mined and transported to a processing plant nearby.
Further exploration work by the company is set to include the latest airborne EM technology to delineate conductors for drill testing that potentially represent magmatic, hydrothermal or structural accumulations of nickel-copper-PGE-rich su
Funds raised will be used to acquire the Barracuda Project Project, around 60 kilometres east of the gold mining town of Mt Magnet in WA, as well as fund initial exploration work and provide working capital.
The program was aimed at extending anomalies previously outlined in phase 1 aircore drilling in December 2020.