Carnavale Resources advances high-grade Kookynie Gold Project in June quarter

Carnavale Resources Ltd managing director Humphrey Hale talked with Proactive about progress toward developing the company’s high-grade Kookynie Gold Project during the June 2026 quarter. Hale said Carnavale had completed most of the technical work required for the bankable feasibility study (BFS), with the remaining work focused on mine scheduling, financial modelling, compiling the study reports and preparing the final publication. The project’s updated mineral resource stands at 855,000 tonnes grading 4.4 grams per tonne gold for approximately 120,000 ounces. Hale highlighted the increased proportion of measured resources within the proposed open pits, which is expected to improve confidence in the project’s mineability and support the future conversion of resources into reserves. Carnavale is pursuing a low-capital development strategy based on contract mining and toll treatment or ore purchase arrangements with a nearby third-party processor. This approach would avoid the need to construct a processing plant, which Hale estimated could require around A$200 million in capital. The company also plans a 5,000-metre exploration program targeting prospective structures near the granite-greenstone boundary northwest of the proposed open pits. Carnavale reported approximately A$3 million in cash, providing funding for the next stage of exploration. Visit Proactive’s YouTube channel for more company interviews and market updates. Please give the video a like, subscribe to the channel and enable notifications for future content.