Carnavale Resources drilling at Swiftsure to extend high-grade gold zones

Proactive - Interviews for investors

Carnavale Resources Ltd (ASX:CAV) CEO Humphrey Hale joins Proactive’s Tylah Tully to discuss an extensional drilling program the company has started at the high-grade Swiftsure deposit within the Kookynie Gold Project in Western Australia, 60 kilometres south of Leonora and 180 kilometres north of Kalgoorlie. The program includes 21 planned drill holes with more than 4,000 metres of reverse circulation (RC) drilling and 500 metres of diamond drilling. The aim is to extend known high-grade gold zones, with grades exceeding 30 g/t, at depths of 200 to 400 metres below surface. Carnavale also plans to test newly discovered prospects, Valiant and Tiptoe, along strike from Swiftsure. Drilling is expected to take around four weeks. The Swiftsure deposit has an initial mineral resource estimate (MRE) of 457,000 tonnes at 5.8 g/t for 85,000 ounces of gold, with potential for further growth. A scoping study for the project showed strong financial potential, including a net present value (NPV) of A491 million and an internal rate of return (IRR) of 192% at A$3,500 per ounce of gold. Carnavale has applied for a mining licence for the Swiftsure deposit. At the Tiptoe and Valiant prospects the company is targeting additional high-grade gold zones with structural similarities to Swiftsure. #ProactiveInvestors #CarnavaleResources #ASX #KookynieGoldProject #GoldExploration #SwiftsureDeposit #WesternAustralia #GoldMining #MineralExploration #DrillingProgramme #HighGradeGold #GoldProspecting #ValiantProspect #TiptoeProspect #BonanzaGold #MiningNews #ResourceEstimation #GoldTargets #RCDrilling #DiamondDrilling #ScopingStudy #GoldZones #MiningExpansion