Carnavale (“Company”)is targeting high value nickel sulphide and associated cobalt and PGE mineralisation at Grey Dam.
Details of current exploration programs are described in ASX releases.
Carnavale owns 100% of the Grey Dam Ni-Co Project (“Project”), located near Kurnalpi approximately 90km northeast of Kalgoorlie, West Australia. The project is considered prospective for nickel sulphide, Kambalda style mineralisation. The tenement package also hosts a shallow laterite Ni-Co resource as well as structurally controlled gold anomalies.
Lateritic Ni-Co resources at Grey Dam
The Project has a Ni-Co 2012 JORC Mineral Resource, defined in 2019 by Carnavale after positive drill results received from the July 2018 infill, extensional RC drilling programme.
The Grey Dam Ni-Co JORC 2012 Mineral resource Estimate is 14.6Mt @ 0.75% Ni and 0.049% Co (0.5% Ni and a 0.05% Co Cutoff) ASX release 26th February 2019.
- Strong Ni and Co mineralisation defined from surface, up to 44m thick and across an area of 1.3km x 1.0km
- Significant Co mineralisation up to 29m thick occurs overlapping the upper portions of the Ni zone
- Discrete Co horizon generally occurs near surface and coincides with strong high-grade Ni (>1.0% Ni) zones
In July 2018 Carnavale completed an RC drilling programme that confirmed significant and shallow laterite Ni and Co mineralisation. The RC drilling has demonstrated a strong Ni domain up to 40m thick from surface. Internal to this Ni domain, higher grade Ni (>1.0% Ni) forms a consistent and strong horizon throughout most of the deposit. Overlapping this high-grade Ni domain, is a distinct Co rich domain similarly commencing from near surface to a maximum depth of approximately 30m. The Ni-Co mineralisation is hosted within the highly weathered laterite profile with the bulk of the mineralisation hosted in the upper saprolite and soft clay portion of the profile. The potential for a shallow low strip ratio open pit is considered favourable subject to a suitable extraction process being evaluated.
The previous resource area (yellow area) highlights the Carnavale infill RC drill hole locations and limit of anomalous Ni and Co mineralisation. The drilling has successfully extended mineralisation in specific areas which may provide an incremental increase in resources. More importantly, the Carnavale drilling provides greater definition of the internal high-grade Ni and Co horizons and provides the opportunity for increased definition of the discrete horizon.
