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Carnavale Resources Limited (ASX:CAV)

ALERT: Price-sensitive ASX Announcement for CAV
Current share price for CAV : $0.088 -0.022 (-20%)+
Announcement
Release
20 May 2026 8:19AM
Price at Release
$0.110
Full Release
download
Summary
Carnavale Resources Limited has updated the Mineral Resource Estimate (MRE) for the Kookynie Gold Project, indicating a total resource of 855,000 tonnes at 4.4 grams per tonne for 120,000 ounces of gold. This update enhances resource confidence with 67% of the total resources classified as Measured and Indicated. The project, located in Western Australia's Eastern goldfields, remains a high-grade mining opportunity, with the Bankable Feasibility Study on track for completion in Q3 2026. The Swiftsure and Tiptoe lodes are central to this resource update, with further exploration planned to expand resources.
Key Points
  • Updated Mineral Resource Estimate (MRE) for Kookynie Gold Project completed by Carnavale Resources Limited.
  • MRE shows a total resource of 855,000 tonnes at 4.4g/t for 120,000 ounces of gold.
  • Resource above 320mRL mainly open pit, with Measured and Indicated resources comprising 67% of total MRE.
  • Infill RC and diamond drilling in early 2026 increased resource confidence.
  • Bankable Feasibility Study (BFS) is progressing on schedule with completion expected in Q3 2026.
  • Project located in Eastern goldfields of Western Australia, representing a high-grade mining opportunity.
  • Swiftsure and Tiptoe lodes have been the focus of recent drilling and resource updates.
  • MRE update includes significant infill RC drilling to enhance open pit potential.
  • Resource classified with cut-off grades of 0.8g/t for open pit and 1.5g/t for underground mining.
  • Future exploration targets identified to further increase resources.
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.