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0.5¢ carnavale resources limited

Ann: Drilling continues as Kookynie delivers outstanding results, page-88

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04/03/24

19:19

Post #: 72739073
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Originally posted by plough: ↑

"We have an early estimate 6 months back from a institutional investor of 100k resource since then had 2 more drill campaigns with added extra ounces each time"

I am thinking they may have firmed up the institutional investors resource modeling with more infill drilling so got more confidence rather than added ounces , so we would still be at cc 100k oz but I would be happy with that.

The drilling in the South west area of Mctavish East shows high grade hits ie MERC005, 16M at 21 grams and another hole 60 meters below it at E 351271 (hole MERC030) of 7M at 7 grams a tonne so there is mineralisation there , but is it contiguous in the 60 meters between those two drill holes ?
Would you be drawing too long a bow to bring that even into the indicated category for a resource with such long distances between holes ?

Who was the institutional investor with the 100k oz estimate by the way ? Seems a pretty switched on investor IMHO too be so far ahead of the curve .

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Hi Plough, Argonaut is the research and devolpment organisation that gave an estimate of the ounces. And it was before the infill drilling yes and also before the 250m deep drilling. Was half the picture it is today when the estimate was given.

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