Carnavale Resources Ltd (ASX:CAV, FRA:YBB) has completed key drilling programs at its Kookynie Gold Project in Western Australia, marking another step forward in the bankable feasibility study (BFS) aimed at advancing the project towards development.
The company deployed one diamond drill rig and two reverse circulation (RC) rigs on site for the past five weeks to complete drilling required to support the BFS, which commenced in December 2025.
The work program focused on gathering geological, metallurgical and geotechnical information needed to refine the mine plan and reduce development risks as the project progresses toward a final feasibility outcome.
“The fieldwork has been intensive over the last five weeks, with three drill rigs working around the clock at the Kookynie Gold Project to provide detailed geochemical, geotechnical, metallurgical and updated resource drilling to inform our rapidly progressing BFS,” Carnavale CEO Humphrey Hale said.
“The team on site has worked tirelessly to create an excellent result, safely. Their work has enabled the BFS timetable to remain on track to be completed by the middle of the year.”
Terra Drilling onsite at the Swiftsure proposed pit site with Diamond rig.
Drilling programs support feasibility work
The completed drilling campaign included several key components designed to strengthen the technical basis of the BFS.
Among the work completed were:
- Six large-diameter diamond drill holes, which recovered about 150 kilograms of core for metallurgical test work;
- Eight geotechnical diamond holes to collect detailed information on rock conditions around the proposed Swiftsure and Tiptoe open pits;
- About 8,500 metres of infill RC drilling on a tight 10-by-10-metre pattern across the planned pits to support resource upgrades.
The infill drilling aims to convert portions of the existing Indicated resource into the Measured category, improving confidence in the deposit ahead of mine development and helping deliver a “de-risked, shovel-ready” project.
Assay results from the RC drilling are expected within about four weeks.
Metallurgical and geotechnical studies underway
Material collected from the drilling programs will feed into a range of technical studies supporting the feasibility work.
Large-diameter core samples have already been used to begin metallurgical test work assessing gold recovery across oxide, transitional and fresh ore zones at the Swiftsure and Tiptoe pits.
The test work will also examine how the ore may perform under crushing, grinding and gravity separation processes, information that will help Carnavale evaluate toll treatment options with third-party processing plants in the region.
Additional samples from the RC drilling program will be used for metallurgical variability testing and waste rock characterisation, with around 60 samples submitted to consultants SRK for analysis.
Meanwhile, geotechnical drilling around the proposed pit walls will provide data on rock quality and structural conditions. The results could allow engineers to optimise pit wall angles, potentially reducing strip ratios and improving project economics.
Hydrogeology and next steps
Hydrogeological studies are also progressing as part of the BFS. A LiDAR survey completed in December has helped map surface conditions and groundwater flows across the site, while a new program of production and monitoring bores is set to begin during March.
Data from these programs will inform water management and dewatering requirements for the potential mining operation.
The Kookynie project currently hosts a JORC mineral resource estimate of 842,300 tonnes at 4.32 g/t gold for about 116,900 ounces, including higher-grade Indicated resources averaging 5.64 g/t gold.
MRE for Swiftsure and Tiptoe lodes by Location (open pit above 320m RL and underground below 320m RL).
Carnavale expects the BFS to be completed around mid-2026, outlining a potential development pathway for the project.
Indicative timetable for BFS study work.
The update follows the company’s recent progress in securing a mining lease at Kookynie as it works towards advancing the project to shovel-ready status.
