In December 2019, Carnavale (“Company”) secured the right to acquire up to 80% of the Mt Alexander Project located immediately adjacent to St George Mining Limited’s “Cathedrals” nickel sulphide deposit, approximately 100km West of Leonora. The tenement package covers approximately 24km2 of the prosepective granite-greenstone belt, that hosts the Cathedrals nickel-copper-cobalt-PGE (platinum group elements) project.
At Cathedrals, the massive Ni-Cu-Co-PGE sulphide mineralisation is high grade and hosted by mafic intrusions, within the poorly explored granite-greenstone belt. The intrusions have been emplaced along ENE trending structures. Cathedrals represents a new style of mineralisation in the region. Early low cost exploration activities, using a combination of mapping and surface rock chip sampling followed by EM geophysical surveys, has been highly successful in delineating direct drill targets along the Cathedrals trend.
Carnavale’s immediate exploration priority is to undertake reconnaisance mapping , rock chip and soil sampling over the prospective ENE corridors. Subject to positive results, a program of follow up EM surveys will be undertaken to target potential Ni sulphide conductors. It is expected that these conductors identified by the EM surveys will represent direct drill targets.
A review by Carnavale and external consultants indicates that limited exploration has occured on the tenements and no activities have targetted this new Cathedrals Ni sulphide style of mineralisation.
Summary of Agreement Details
Please refer to ASX announcement date 5 December 2019 – New Mt Alexander Ni Sulphide Project, WA.