Carnavale Resources Limited (ASX:CAV) (FRA:YBB) is in a trading halt regarding a new mineral project acquisition and a capital raising announcement pending.
The trading halt will remain in place until the beginning of regular trade on Thursday, March 11, or when an announcement is released to the market, whichever occurs earliest.
Second phase aircore drilling
Recently the company began the second phase of aircore drilling of 116 holes for 5,800 metres at the Kookynie Gold Project in Western Australia Goldfields.
This phase of drilling is designed to follow up the first round of drilling in December 2020, which identified 3 areas of significant gold anomalism associated with intervals of gold mineralisation within the weathered rock profile, with strong prospectivity for additional mineralisation open along structural corridors.