Carnavale Resources (ASX:CAV) launched a critical drilling campaign at its Kookynie Gold Project in Western Australia, marking the start of the project’s bankable feasibility study.
Located approximately 60km south of Leonora, the program is a multi-rig effort designed to transition the high-grade asset into a "shovel-ready" state by Q3 2026.
Terra Drilling has been contracted for the diamond drilling phase, which is currently underway with six holes aimed at recovering 150kg of core for metallurgical testwork and eight holes for geotechnical slope assessments at the proposed Swiftsure and Tiptoe open pits.
The technical foundation will be supported by a massive 9,000m infill reverse circulation program, utilising a tight 10m x 10m grid to convert indicated resources into the high-confidence measured category.
The rapid mobilisation follows the successful completion of heritage and ethnographic surveys conducted in collaboration with the Nyalpa Pirniku people, clearing the way for drill pad preparation throughout December 2025 and January.
Beyond mineral definition, the company is advancing hydrogeological assessments and plans to commence a separate water bore program in March to manage site dewatering.
At the time of reporting, Carnavale Resources’ share price was $0.14.