Carnavale Resources Limited (AU:CAV) has released an update.
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Carnavale Resources Ltd has announced a promising Maiden Mineral Resource Estimate and a positive Scoping Study for its Kookynie Gold Project, revealing a high-grade, shallow resource with significant upside potential. The initial estimate shows 457kt at 5.8g/t for 85koz Au, and the Scoping Study outlines robust financials with a pre-tax NPV of A$91m and an IRR of 192%, suggesting a competitive cost profile. The project, located within reach of numerous gold processing plants in Western Australia, demonstrates an appealing initial mine life of 32 months with a rapid capital payback period of just 14 months.
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