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Carnavale Resources Ltd.
Summary
| Project: | Grey Dam | |
|---|---|---|
| Deposit: | Grey Dam | |
| Location: | Australia | |
| Commodities: | Nickel-Cobalt | |
| Date: | 2/26/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-2-2019: Carnavale Resources Ltd. announces a Resource Estimation report for its Grey Dam deposit at the Grey Dam project. Updated mineral resource estimate at project. Carnavale Resources (ASX: CAV) is pleased to announce a new Nickel (“Ni”) and Cobalt | |
| Resources: | (Resource, I+I): 14.6Mt @ 0.75% Ni, 0.049% Co | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services) | |
| ABSTRACT: | Carnavale Resources (ASX: CAV) is pleased to announce a new Nickel (“Ni”) and Cobalt (“Co”) Mineral Resource estimate (JORC 2012) at its 100% owned Grey Dam Project. The Ni-Co deposit is shallow and flat lying, with the laterite style mineralisation occurring from surface to approximately 50m depth. The project is located 80km east of Kalgoorlie, Western Australia with excellent local infrastructure including sealed roads, airport and mining related contract services. The laterite Ni-Co Mineral Resource estimate is based on 5,000m of infill and extensional reverse circulation (“RC”) drilling (85 holes) together with inter-laboratory check sampling and incorporating previous third party drilling (108 RC and 4 diamond holes). Approximately half of the deposit occurs on a granted mining lease (M28/378) with the remainder on Carnavale’s surrounding exploration licence E28/1477. The drilling was completed at 100m x 50m hole spacing with selected 50m infill sections providing strong continuity to the mineralisation. Andy Beckwith, Managing Director, commented “Grey Dam is well located only one hour drive from Kalgoorlie. We have defined a high value shallow resource that should be readily amenable to an open pit mining strategy. Our next step is to assess metallurgy and deliver on a low cost processing strategy. | |
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