The Conversation (0)
Carnavale Resources Ltd (CAV) is pleased to announce further outstanding results from the December drilling campaign at the McTavish East Prospect, at the Kookynie Gold Project, located only 60km south of Leonora in Western Australia.
- RC and diamond drilling confirms and infills significant high-grade plunging gold zones at McTavish East. Significant results from the RC and diamond drilling program include:
- 3m @ 58.54g/t Au from 97m in MERC102 (inc. 2m @ 84.5g/t*)
- 7m @ 23.18g/t Au from 46m in MERC098 (inc. 3m @ 51.18g/t*)
- 4.6m @ 24.92g/t Au from 112.07m in MEPC008 (inc. 0.2m @ 26.4g/t and 1.25m @ 69.28g/t*)
- 10m @ 11.03g/t Au from 88m in MERC105 (inc. 2m @ 42.15g/t*)
- 4m @ 22.68g/t Au from 28m in MERC097 (inc.3m @ 29.77g/t *)
- 5m @ 15.50g/t Au from 63m in MERC104 (inc. 2m @ 26.48g/t and 1m @ 20.4g/t*)
- 1m @ 47.40g/t from 24m in MEPC003
- 3m @ 10.98g/t from 181m in MERC088 (inc. 2m @ 15.38g/t*)
- 2m @ 12.90g/t from 32m in MERC091 (inc. 1m @ 23.5g/t*)
- 5m @ 4.22g/t from 172m in MERC 103 (inc. 1m @ 12.95g/t*)
- Very high-grade plunging shoots defined for 250m down dip by close spaced RC and Diamond drilling. (figure 2A)
- Defined new shoots from isolated high-grade intercepts within the known 700m zone, potential to expand. (figure 2B)
- Maiden Mineral Resource Estimate (MRE)to be completed at McTavish East.
- Field work completed for the initial Geotechnical review that will be used to inform mining studies.
- Shallow RC drilling has commenced, 12 holes focused on new targets along the main mineralising structure including Champion South and anomalies already defined by aircore drilling to test for high-grade shoots along strike. 5,500m of exploration aircore drilling to follow.
CEO Humphrey Hale commented:
“We are delighted with the results of the drilling which has confirmed the continuity of the bonanza grades at McTavish East. This gives the Company confidence to commission a maiden resource estimate and economic studies to evaluate potential mining scenarios. We are very excited about the additional exploration opportunities along strike and have commenced an exploration program to explore this fertile zone for additional high-grade shoots with aircore and RC.”
Carnavale identified the Kookynie-Leonora region (Figure 6) as highly prospective, with known past and current high-grade mines. Since 2021, the McTavish East Prospect trend has been defined over approximately 2km with aircore drilling and RC drilling.
Figure1, Plan of McTavish East Prospect. Gold contours over magnetic image. The highest-grade results from the recent drilling reported in yellow callouts. Historic results in blue callouts.
Extensive historic gold mining occurred between 1895 and 1922 throughout the Kookynie area, including the Cosmopolitan mine the largest gold producer, where historic high-grade gold production amounted to more than 331,000 ounces of gold1 at 15g/t.
In December 2023 CAV completed a program of RC and diamond drilling consisting of a 29 hole, 4,169m RC drilling program with an additional 7 holes with diamond tails for a further 356.6m of NQ2 core that followed up on previous RC drilling programs.
This drilling program was designed to improve the confidence of the very high-grade plunging shoots by confirming the continuity of high-grade gold and investigate the area to the south (area B in figure 2) that contained sporadic high-grade hits. The new close spaced drilling has confirmed the continuity of the high- grade mineralisation and will be used to create a maiden resource estimate.
The highest-grade zone (area A in figure 2) with bonanza grade gold mineralisation extends down dip for 250m and remains open at depth. The mineralisation is characterized by very high grade mineralised gently north plunging shoots within a mineralised southerly plunging envelope.
Click here for the full ASX Release
This article includes content from Carnavale Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Kirgella Gift and Providence: First Inferred Mineral Resource Estimate of 76,400 oz Au from only 3m depth
Highlights
- First Inferred Mineral Resource Estimate for Kirgella Gift and Providence of: 2.34 Mt @ 1.0 g/t Au for 76,400 oz at a 0.5 g/t gold cut-off from only 3m depth.
- Gold mineralisation remains open at depth and along strike between Kirgella Gift and Providence:
- Potential for significant resource growth and upgrade following additional drilling to expand on unclassified blocks outside current model limits.
- Highly economic discovery with KalGold’s direct exploration expenditure cost (drilling and assay) of only ~A$4.20 per gold ounce.
- KalGold’s Total Mineral Resource base, comprising this new resource from the Pinjin Project, and the La Mascotte deposit at Bulong Taurus (see ASX: KAL 7th March 2023), now stands at 214,300 oz.
- Elevated gold price of over A$3,600/oz continues to drive interest in mineable gold projects.
KalGold Managing Director and CEO Matt Painter said:
“KalGold is proud to report the first Mineral Resource Estimate at the Kirgella Gift and Providence gold deposits. It totals ~76,000 oz defined at over 1.0 g/t Au from only 3m depth, remains open in several directions, and is considered the first step in defining the full potential of the Kirgella Gift and Providence gold deposits. Pleasingly, we have defined a shallow gold resource at a very low cost to the Company of around A$4.20 per gold ounce.
The Kirgella and Providence mineral resource estimate is comparable to other deposits within the Laverton Tectonic Zone and is considered typical of the region. This is particularly true of some of the constituent deposits at Ramelius Resources’ (ASX:RMS) Rebecca Gold Project, around 20 km to the south along strike.
KalGold now has defined a total resource base of 214,300 oz of gold. The increased resource base enables KalGold to commence high level mining optimisation studies to assess pathways to production. KalGold looks forward to continuing to progress its work in the Pinjin area with the aim of significantly growing this initial JORC Code (2012) resource and defining a suite of additional shallow resources.”
First Gold MRE at KalGold’s Pinjin Project
The Inferred MRE of 2.34 Mt @ 1.0 g/t Au for 76,400 oz Au has been defined at a 0.5 g/t gold cut-off from the Company’s recent drill focus on the shallow portion of the Kirgella Gift and adjacent Providence gold deposits (see Table 1), combined with thoroughly validated historic datasets. Work continues on both deposits, with gold mineralisation open at depth and along strike between the two. This MRE is expected to form the basis of future updates as drilling and exploration continues.
Table 1 – Kirgella Gift and Providence Mineral Resource at a 0.5 g/t gold cut-off Note totals may not sum due to rounding.Click here for the full ASX Release
This article includes content from Kalgoorlie Gold Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Acquisition of Mubende Gold Project, Uganda
HIGHLIGHTS
- The granted exploration license EL00379 covers 202 square kilometres in the Mubende region west of Kampala and includes the highly prospective Bukuya prospect.
- The Bukuya prospect is currently being mined by 60-80 artisanal workers over 600 metres of prospective strike and remains open along strike and at depth.
- Rock chip samples taken from a recent site visit to the Bukuya prospect by consultant geologists returned numerous specimens containing visible gold in both ferro-manganese and quartz veins.
- Experienced in-country technical team appointed including Mr Dylan le Roux and Mr Allan Agumya to manage exploration activities.
- Field activities scheduled to commence 05 August 2024.
Commenting on the acquisition Managing Director Mr Mathew Walker stated, “We are delighted to have secured a significant land holding that has prospectivity confirmed by a strong presence of artisanal mining activity. Uganda has a well established gold mining industry and regulatory protocols that add to the appeal of the acquisition. We look forward to the commencement of field activities in the immediate term.”
MUBENDE GOLD PROJECT
The Mubende Gold Project is an extensive landholding of 202 square kilometers that covers a series of metasediments, predominantly characterized by meta-wacke’s and phyllitic slates, with occasional interbedded quartzite units and mafic volcanics. Late-stage granites have intruded the metasediments, mainly in the southern part of the license.
Figure 1: Regional Map with locations of Sifang licenses.
At the Bukuya prospect, wall rock consists of metapelitic units with vertical foliation trending NW in most shafts, turning EW in the northern artisanal shafts. Mineralization appears confined to a deformation zone within the metapelites and hosts three subsets of veins exploited by artisanal workers. The first subset includes quartz veins with hematite mineralization, iron-oxide staining, and goethite/limonite-filled vugs, seen in southern shafts with NW trending foliation. The second subset comprises metallic veins of blueish-grey and black ferro-manganese mineralisation with botryoidal textures and specular hematite, found in northern shafts with EW trending foliation. The third set comprises massive milky white quartz veins.
These veins are described in more detail below.
Type 1 (Iron-rich quartz veins): These are quartz veins that show varying degrees of ferro(-manganese) mineralisation. Mineralisation occurs as hematite (red), specular hematite (dark silver/black), and a lesser degree of manganese (botryoidal, blue-grey to black). Vugs filled with limonitic material is often seen in these veins and is interpreted to represent leached out sulphides. These veins are seen in the SE of the Bukuya site. They are typically decimetre to metre scale and are foliation concordant (vertical to subvertical with dominantly NW trend).
Click here for the full ASX Release
This article includes content from eMetals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
