Carnavale Resources managing director Humphrey Hale talked with Proactive about the company's upgraded mineral resource estimate at the Kookynie Gold Project in Western Australia and what it means for the project's development pathway.
Hale discussed the recently revised mineral resource estimate, which was designed to increase the proportion of measured resources within the proposed open pit. The updated estimate has increased total resources from approximately 117,000 ounces to 120,000 ounces of gold at an average grade of 4.4 grams per tonne.
A key highlight within the resource is a high-grade core containing around 60,000 tonnes for 56,000 ounces at an impressive grade of approximately 29 grams per tonne. Hale described this as a significant improvement and noted the potential economic benefits associated with such high-grade material.
Speaking about potential development options, Hale said Carnavale's current strategy is to mine the ore and transport it to a nearby processing facility under an ore purchase arrangement. He explained that processing high-grade material separately could enhance gold production rates and improve project economics.
The company believes the project already demonstrates strong value, with Hale highlighting free cash flow projections from previous studies. He also pointed to the significant increase in the gold price environment compared with assumptions used in earlier economic assessments.
Importantly, Carnavale sees further upside potential across the Kookynie tenements, with opportunities to expand resources both along strike and at depth.
Watch the full interview for insights into Carnavale Resources' plans for Kookynie, upcoming development milestones and future growth opportunities.
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