Carnavale Resources (ASX:CAV) completed an initial leach testwork program which demonstrated ‘outstanding’ recoveries at the McTavish East prospect, within the Kookynie Gold Project in Western Australia.
The $20 million market capitalisation company says 16 samples were taken from aircore and reverse circulation (RC) drilling, being 200 to 250 gram ore grade samples that were leach tested for 24 hours.
Results yielded recoveries in the oxide were 99% and in the fresh rock between 97% and 99%.
Carnavale has planned further metallurgical testwork to be completed, which will bolster these results, including further leach testwork and gravity separation techniques.
Commenting on the testwork results, Carnavale Resources Chief Executive Officer (CEO) Humphrey Hale says: “The initial metallurgical results from McTavish East are outstanding, indicating the potential of excellent gold recoveries from traditional cyanide leaching processes.
“CAV is excited to continue to testwork with further leach testing and the addition of gravity separation techniques to enhance the processing options and potentially reduce operating costs“
CAV is excited to continue to testwork with further leach testing and the addition of gravity separation techniques to enhance the processing options and potentially reduce operating costs.”
Following today’s announcement Carnavale’s share price had increased 16.66% as of 2pm AEST this afternoon (19 September 2023).
The McTavish East deposit is newly discovered by Carnavale and has not been previously exploited before. The deposit lies beneath a thin layer of cover, comprising transported material close to surface, which allows easy development.
Carnavale is always expecting to report the assay results once they become available and are assessed from its recent RC drilling program at McTavish East.
The Kookynie Gold Project is located 60km north of Kalgoorlie in Yilgarn Craton of Western Australia.
Carnavale Resources is a Western Australian-based exploration company, focused on acquiring and exploring ‘high quality’ and ‘advanced’ projects prospective for gold, nickel, platinum group elements, and strategic minerals associated with the electric vehicle battery sector.
On 21 July 2023, the company completed a placement to raise $2.7 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Carnavale Resources
