Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Carnavale Resources (CAV) commences a diamond drilling program at its Kookynie gold project in Western Australia
  • The company will drill a total of three holes for 500 metres to expand its textural and structural knowledge of the high-grade McTavish East discovery
  • Drilling is expected to take two weeks, with core to be logged on site before being cut and sampled for assaying
  • Shares are trading flat today at 0.8 cents each at 11:43 am AEST

Carnavale Resources (CAV) has commenced a diamond drilling program at its Kookynie gold project in Western Australia.

The company will drill a total of three holes for 500 metres.

The drilling will aim to expand Carnavale’s textural and structural knowledge of the high-grade McTavish East discovery. It will also add depth extents to the existing mineralised envelope.

Previous reverse circulation drill results from McTavish East include 16 metres at 20.92 grams per tonne (g/t) gold from 161 metres including 10 metres at 31.88 g/t gold .

CEO Humphrey Hale said he was excited to begin drilling.

“This will give us important information on the structural controls to the high-grade mineralisation already encountered plus adding depth extents to the known mineralised envelope,” he said.

The drill program is expected to take two weeks, with core to be logged on site before being cut and sampled for assaying. The company expects to receive assays after 10 weeks.

Shares were trading flat today at 0.8 cents each at 11:43 am AEST.

CAV by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Security Matters (ASX:SMX) enters into $2m standby equity facility

Security Matters (ASX:SMX) has entered into a standby equity deed with Evolution Capital.
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Baby Bunting (ASX:BBN) - Chair and Non Executive Director, Melanie Wilson

" Baby Bunting (ASX:BBN) surpasses $500m sales for the first time

Baby goods retailer Baby Bunting (ASX:BBN) surpasses half a billion dollars in sales for the first…