Ora Banda South drilling points to gold potential for Carnavale
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Aircore drilling has increased Carnavale’s understanding of the gold-bearing system that stretches over a strike length of 15km at its Ora Banda South project.
Notable results from the second aircore drill program were 4m at 2.69 grams per tonne (g/t) gold from 36m and 4m at 2.49g/t gold from 48m.
This followed up on significant shallow bedrock gold results from the first program which included 4m at 8.82g/t gold from 40m and 8m at 2.74g/t gold from 48m.
Significantly for Carnavale Resources (ASX:CAV), it has now defined two high priority targets – Carnage and Highlander – for follow-up aircore and reverse circulation drilling in the third quarter.
Ora Banda South is also located within an analogous geological setting target to Gold Fields’ +2.5Moz Invincible gold mine near Kambalda, 65km northwest of Kalgoorlie in the Yilgarn Craton, Western Australia.
“We are excited to have confirmed the scale of the new prospects at Ora Banda South, a substantial aircore program was executed to expand the high-grade gold zones that were identified in the initial scout drilling,” chief executive officer Humphrey Hale said.
“This wide-spaced program has provided additional definition to the gold anomalies in the regolith and improved confidence along strike.
“An RC drilling program at Carnage and Highlander is planned, to define scope of the shallow bedrock gold mineralisation in the top 200m from surface.”
The phase two aircore drilling of 176 holes totalling 12,894m followed up on the wide-spaced phase one program that confirmed the prospective Carnage Shear along the 15km long tenement package.
It reduced the drill spacing where gold anomalies were identified to 80m while outlining significant gold mineralisation and improving the company’s understanding of the geology and structure, the depth of transported material as well as the depth of weathering within the regolith profile.
Drilling also defined the Carnage prospect over a 2.5km strike and width of up to 500m and the 2km by 400m Highlander prospect, both of which remain open.
This article was developed in collaboration with Carnavale Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.