en.Wedoany.com Reported - Carnavale Resources has updated its mineral resource estimate for the Kookynie Gold Project in Western Australia, increasing total resources from approximately 117,000 ounces to 120,000 ounces of gold, with an average grade of 4.4 grams per tonne.

Managing Director Humphrey Hale presented the revised mineral resource estimate, which aims to increase the proportion of indicated resources within the proposed open pit. A highlight of the resource is a high-grade core containing approximately 60,000 tonnes of ore with 56,000 ounces of gold at a grade of around 29 grams per tonne. Hale described this as a significant improvement and noted the potential economic benefits of such high-grade material.

Regarding development plans, Carnavale Resources' current strategy involves mining the ore and transporting it to a nearby processing facility under an ore purchase agreement. Hale stated that processing the high-grade material separately could enhance gold recovery and improve project economics. The company believes the project has demonstrated strong value, with Hale highlighting free cash flow projections from previous studies while noting that the current gold price environment has significantly improved compared to assumptions used in earlier economic assessments. Carnavale sees further opportunities to expand resources along strike and at depth within the Kookynie tenement area.

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