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The latest announcement is out from Carnavale Resources Limited ( (AU:CAV) ).
Carnavale Resources reported strong progress at its Kookynie Gold Project in the March 2026 quarter, highlighted by the granting of the key mining lease covering all project resources. Intensive metallurgical, geotechnical, and infill reverse circulation drilling at the Swiftsure and Tiptoe deposits has confirmed excellent continuity of near-surface, bonanza-grade gold mineralisation and brought drilling density to near grade-control levels.
These results underpin an updated Mineral Resource Estimate that is expected to upgrade resources from Indicated to Measured and support the definition of open pit reserves in a Bankable Feasibility Study targeted for completion in early Q3 2026. The extensive technical work, including variability metallurgical testwork, geotechnical and hydrology drilling, is aimed at de-risking mine scheduling and operations and positioning Kookynie as a shovel-ready gold project with both open pit and underground growth potential.
More about Carnavale Resources Limited
Carnavale Resources Limited is an Australian mineral exploration and development company focused on high-grade gold projects in Western Australia. Its flagship asset is the Kookynie Gold Project, located between Leonora and Kalgoorlie, where the company is advancing open pit and potential underground operations through detailed drilling and feasibility work.
YTD Price Performance: 35.87%
Average Trading Volume: 539,618
Technical Sentiment Signal: Sell
Current Market Cap: A$51.01M
See more insights into CAV stock on TipRanks’ Stock Analysis page.