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Carnavale Resources Limited (ASX:CAV)

ALERT: Price-sensitive ASX Announcement for CAV
Current share price for CAV : $0.083 -0.042 (-33.60%)+
Announcement
Release
6 Mar 2026 11:12AM
Price at Release
$0.125
Full Release
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Summary
Carnavale Resources Limited has completed the RC and diamond drilling programs at the Kookynie Gold Project, which is located in Western Australia. This drilling is part of the Bankable Feasibility Study (BFS) that started in December 2025. The BFS includes large diameter diamond drill holes for metallurgical testwork, geotechnical diamond holes for BFS assumptions, and infill RC resource drilling for upgrading resources and supporting BFS. The drilling programs aim to deliver a derisked, shovel-ready project by Q3 2026, with RC results expected in approximately four weeks. Additionally, metallurgical testwork is underway to understand gold recoveries and characterize waste rock for environmental approvals. Geotechnical drilling is being reviewed by consultants, and hydrogeology assessments have started to plan water management. The project represents a significant opportunity due to its location near operating mines, and further exploration is planned.
Key Points
  • Completion of RC and diamond drilling at Kookynie Gold Project.
  • BFS drilling includes diamond drill holes and geotechnical drilling.
  • Infill RC drilling to support BFS and upgrade resources.
  • Drilling aims for a shovel-ready project by Q3 2026.
  • Metallurgical testwork for gold recovery and waste characterization.
  • Hydrogeology assessments for water management planning.
  • Further exploration planned to test potential targets.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.