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Carnavale Resources (ASX:CAV) - Chairman, Ron Gajewski - The Market Herald
Chairman, Ron Gajewski
Source: Carnavale Resources
  • Carnavale Resources (CAV) has begun an extensive aircore drilling program at the Kookynie Gold Project in Western Australia
  • The aim of this drilling is to test the potential of structural features identified via a previous aeromagnetic survey
  • The survey was undertaken to identify the structural features that could potentially host high-grade gold
  • A soil sampling program was also completed with 1100 samples taken from five zones across the Leipold, McTavish, and Champion deposits
  • These samples have been submitted to ALS laboratories for multi-element analysis with results expected before the end of the month
  • Carnavale has ended the day 11.1 per cent in the green with shares trading at one cent

Carnavale Resources (CAV) has begun a 6450-metre aircore drilling program at the Kookynie Gold Project.

The Kookynie Gold Project lies 60 kilometres south of Leonora in Western Australia and has been subject to limited exploration.

The aim of this aircore drilling is to test the potential of structural features identified via a previous aeromagnetic survey and target high-grade gold mineralisation.

The aim of this survey was to identify the structural features that could potentially host high-grade gold.

The survey was undertaken by Magspec, data was processed by Precision Geophysics, and then reviewed by Carnavale geologists.

"Carnavale is delighted to be on the ground drilling at the Kookynie Gold Project, the area has produced some outstanding results for our neighbours, adjacent to and along strike from our highly prospective tenement package," Executive Chairman Ron Gajewski said.

"The company is excited by the outcome of the recent aeromagnetic survey, which has identified abundant structural targets that have the potential to host high-grade mineralisation. We look forward to the results of the drilling in the new year," he added.

A soil sampling program was also completed with 1100 samples taken from five zones across the Leipold, McTavish, and Champion deposits.

These samples have been submitted to ALS laboratories for multi-element analysis with results expected before the end of the month.

Carnavale has ended the day 11.1 per cent in the green with shares trading at one cent in an $18.38 million market cap.


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