Carnavale Starts Bankable Feasibility Drilling at Kookynie Gold Project

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

Carnavale Resources has commenced Bankable Feasibility Study drilling at its Kookynie Gold Project, 60km south of Leonora in Western Australia, marking a key step toward moving the high‑grade Swiftsure and Tiptoe deposits into development. The program, led by contractor Terra Drilling, includes metallurgical diamond drilling, geotechnical holes, and 9,000m of closely spaced infill reverse‑circulation drilling to upgrade resources from indicated to measured, reduce operational and geotechnical risk, and support open‑pit mine design and environmental approvals. Additional hydrogeological work and planned water bores for dewatering, alongside waste rock and metallurgical testwork with SRK Consulting, are aimed at finalising a significantly de‑risked, toll‑treatable, shovel‑ready open‑pit scenario by the third quarter of 2026, underscoring Carnavale’s push to fast‑track Kookynie into production and enhance its position in the Western Australian gold sector.

The most recent analyst rating on (AU:CAV) stock is a Hold with a A$0.12 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 gold exploration and development company focused on advancing its Kookynie Gold Project in Western Australia. The project centres on high-grade, near-surface gold resources at the Swiftsure and Tiptoe deposits, with an initial development pathway via open-pit mining and potential longer-term underground operations.

YTD Price Performance: 30.43%

Average Trading Volume: 740,701

Technical Sentiment Signal: Sell

Current Market Cap: A$55.04M

Learn more about CAV stock on TipRanks’ Stock Analysis page.