Carnavale Resources halted with Kookynie gold assays upcoming

Carnavale Resources Ltd (ASX:CAV) (FRA:YBB) has been granted a trading halt by the ASX with assay results pending from drilling at the company’s Kookynie Gold Project in WA. The halt will remain in place until the start of regular trading on Friday, July 16, or until an announcement is released to the market, whichever occurs earliest. Phase 3 aircore drilling In May, the company completed its third aircore drilling program of 135 holes for 7,432 metres at the Kookynie Project, 60 kilometres south of Leonora. The program was designed to infill previous high-grade intercepts to provide targets for RC drilling and test the extent and potential of the structural features in the weathered profile identified in earlier drilling completed in December 2020 and March 2021. “Fast-tracking exploration” The tenement package has been underexplored to date with multiple structurally controlled targets located under alluvial cover. Executive chairman Ron Gajewski said at the time: “Carnavale continues to fast-track exploration at the Kookynie Gold Project. “It is fortunate that we have a great field team to complete our programs and are very pleased to be infill drilling around the high-grade gold intercepts and strong gold anomalies identified in our earlier drill programs.”