Carnavale Completes Key BFS Drilling at Kookynie Gold Project

Carnavale Resources Limited ( (AU:CAV) ) has provided an announcement.

Carnavale Resources has completed reverse circulation and diamond drilling programs at its Kookynie Gold Project, including metallurgical, geotechnical and infill resource drilling across the Swiftsure and Tiptoe proposed open pits. These programs aim to upgrade resources from Indicated to Measured, provide material for metallurgical variability and waste rock studies, and underpin a Bankable Feasibility Study that remains on schedule for completion by mid-2026.

The company will now move into the final stage of BFS-related drilling with production and monitoring water bores on the granted mining lease, while metallurgical testwork proceeds on large-diameter core to define gold recoveries and processing characteristics for potential toll treatment. Management highlighted that intensive fieldwork over the past five weeks, including three rigs operating continuously, has kept the feasibility timetable on track and is designed to deliver a de-risked, shovel-ready gold project by the third quarter of 2026.

The most recent analyst rating on (AU:CAV) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Carnavale Resources Limited stock, see the AU:CAV Stock Forecast page.

More about Carnavale Resources Limited

Carnavale Resources Limited is an Australian exploration and development company focused on advancing its Kookynie Gold Project in Western Australia. The project targets open-pit gold production at the Swiftsure and Tiptoe deposits, with a strategy to progress toward a shovel-ready operation supported by third-party toll treatment processing options.

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Current Market Cap: A$51.01M

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