Carnavale Strikes Gold with High-Grade Kookynie Project

Carnavale Resources Limited (AU:CAV) has released an update.

Carnavale Resources Limited has unveiled a promising maiden resource estimate for the Swiftsure deposit at the Kookynie Gold Project, showcasing a significant initial finding of 457kt at 5.8g/t for 85,000 ounces of gold, which includes an exceptionally high-grade zone. A Scoping Study indicates robust financial prospects with a pre-tax NPV of A$91m and a staggering IRR of 192%, affirming the project’s economic viability with a rapid payback of capital within 14 months. The discovery remains open for expansion at depth and along strike, with new targets like Tiptoe and Valiant adding to the exploration excitement.

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