Ann: Strategic Acquisition and Kookynie Exploration to commence, page-2

Carnavale Resources Ltd (“CAV”, “Carnavale” or the “Company” is pushing forward with its exploration plans on the Company’s expanded tenement portfolio. The Company has a systematic exploration program planned for the high-grade Kookynie Gold Project that includes:

 A detailed, multi-element soil sampling program to test strike extensions of known gold mineralisation including Metalicity Ltd.’s (ASX: MCT) Leipold, McTavish and Cosmopolitan projects, where transported cover is not well developed.
 Flying a detailed aeromagnetic survey over the Kookynie project to identify structural targets with potential for gold mineralisation.
 POW approved and Drill rig booked for the end of November.
 6,000m of aircore planned to test structural, geochemical and aeromagnetic targets.
 Acquisition of additional strategic prospective ground to add to the Kookynie Gold project.

It is anticipated that the field work component will be completed prior to Christmas, with results following thereafter. Figure1 - Old workings at Kookynie Gold Project

Executive Chairman Ron Gajewski commented: “Carnavale continues to expand its holdings at the Kookynie Gold project as part of the Company’s strategic exploration plan for the area. We have taken a systematic approach to exploring the ground by analyzing the information available and applying an integrated program of geochemistry, geophysics, and geology. Carnavale is wasting no time in getting on the ground to search for high grade gold within this very under explored tenement package. The Company is well funded with approximately $3.5 million cash at 30 September 2020 to execute this fast tracked program.”


MCT had ok numbers this morning from next door, not huge but they were shallow at depth.
CAV is certainly cracking the whip which is encouraging, interesting times ahead. Having both nickel and gold is a massive plus.