Carnavale Resources Ltd (ASX:CAV, FRA:YBB) CEO Humphrey Hale talked with Proactive about the company’s upgraded mineral resource estimate (MRE) for the Kookynie Gold Project in Western Australia, highlighting stronger confidence in the shallow high-grade portions of the deposit as the company advances toward a bankable feasibility study (BFS).
The updated MRE now stands at 855,000 tonnes at 4.4 g/t gold for 120,000 ounces, representing a 2.5% increase on the previous estimate. Hale said the latest drilling program focused primarily on infill drilling designed to improve confidence levels within the resource and support mine planning for the early years of production.
The company is targeting completion of its BFS by the end of July and remains focused on achieving gold production before the end of the year. Hale noted that previously released project economics outlined an NPV of around A$188 million and free cash flow exceeding A$230 million based on lower gold price assumptions than current market levels.
For more Proactive interviews and market insights, visit the Proactive YouTube channel. Don’t forget to like this video, subscribe to the channel and enable notifications for future content.
#CarnavaleResources #KookynieGoldProject #GoldMining #ASX #GoldStocks #MiningNews #GoldDeveloper #WesternAustralia #ResourceEstimate #GoldProduction #JuniorMining #HumphreyHale #MiningInvestment #GoldMarket #ProactiveInvestors