Expanded Grey Dam Nickel-Cobalt Project, Western Australia (100%, Ni-Co)

  • Targetting nickel sulphide, kambalda style mineralisation
  • very strong FLEM targets defined in Q1 2020
  • results from first Ultra Fine Fraction sampling identified ultramafic sequence comprehensive second phase planned
  • Exploration upside remains to be tested
  • Lateritic Ni-Co resource –updated to JORC 2012 compliance

Mt Alexander Nickel – Sulphide Project, Western Australia (right to earn up to 80%, Ni-Cu-Co-PGE)

  • Located immediately south and adjacent to ASX Listed St George Mining Cathedrals Ni deposit
  • Shallow and high grade Cathedrals’ Ni-Cu-Co-PGE sulphide style mineralisation to be targeted
  • 4 dominant east-north-east trending prospective “magnetic low” corridors interpreted
  • UFF soil sampling identifeid anomalous zones in mafic ENE corridors
  • FLEM survey to be completed

Kookynie Gold Project – Gold Project, Western Australia (right to earn up to 80% Au)

  • Kookynie area has >650,000 oz historic high-grade gold production from high-grade quartz vein deposits dating back to late 19th century
  • Carnavale entered into 12-month Option Agreement to acquire 80% of the Kookynie Project from Western Resources Pty Ltd and recently acquired 100% of P40/1480 and application E40/394.
  • 5 tenements covering approx. 50 km2 within historic Kookynie Mining Camp
  • 60km from Leonora and 150km from Kalgoorlie
  • Strike extensions of historic high-grade deposits including Champion and Cosmopolitan
  • Surrounded by Metalicity (ASX:MCT), Genesis Minerals (ASX:GMD) and Gti Resources (ASX:GTR)
  • Underexplored wide spaced RAB and Aircore
  • Intensive exploration program commencing November 2020

Ora Banda Gold Project – Gold Project, Western Australia (right to earn up to 80% Au

  • 8km South of the Ora Banda Mining Centre and 65Km NW of Kalgoorlie
  • 15km of strike along the Carnage shear that defines the Kurrawang Conglomerate and Black Flag Group contact
  • Analogous to the +2Moz Invincible Gold Mine, discovered by Goldfields Ltd near Kambalda
  • 4km and 1.2km long auger gold anomalies in the southern portion of the tenement package
  • Significant shallow bedrock gold results from limited aircore and RAB drilling completed by previous explorers include:
  • 14m @ 0.79g/t from 73m and 2m @ 1.56g/t from 90m to EOH in OBAC033
  • 5m @ 2.29g/t from 116m to EOH in KWAC055
  • Systematic exploration programme to be completed including soil sampling and aircore drilling

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