Cavalier’s Crawford Drilling Faces Geological Uncertainties Amid Expansion Push
Cavalier Resources has initiated a 5,000m extensional drilling program at its Crawford Gold Project, aiming to expand mineral resources and underpin future mining stages backed by a robust Pre-Feasibility Study.
- 5,000m extensional drilling commenced at Crawford Gold Project
- Stage 1 starter pit targets early production with A$103.6 million gross revenue
- Revised April 2025 Pre-Feasibility Study shows NPV8 of A$51.7 million and IRR of 580%
- Probable ore reserve of 29,300 ounces of gold within Stage 1 pit design
- Drilling focuses on near-mine resource extensions and northern oxide corridor
Cavalier Advances Crawford Gold Project
Cavalier Resources has taken a decisive step forward at its Crawford Gold Project in Western Australia by commencing a 5,000-metre extensional drilling program. This initiative targets expanding the mineral resource base beyond the existing Stage 1 starter pit, which is already poised to deliver early production and significant revenue.
The Stage 1 pit is designed to generate approximately A$103.6 million in gross revenue, assuming a gold price of AUD$4,600 per ounce. Mining operations for this starter pit are expected to be completed within fourteen months, setting a solid foundation for potential future stages or cutbacks.
Strong Financial Metrics Underpin Project Viability
Supporting the drilling program is a revised Pre-Feasibility Study (PFS) released in April 2025, which highlights compelling financial metrics. The study reports a net present value (NPV8) of A$51.7 million and an internal rate of return (IRR) of 580%, with a payback period of just nine months. These figures underscore the project's attractive economics and efficient capital recovery.
The PFS also details a total gold production forecast of 23,467 ounces over an 18-month project life, with all-in sustaining costs (AISC) estimated at A$1,574 per ounce, placing Crawford in the lower cost quartile for gold producers.
Resource Expansion and Strategic Drilling Focus
The current drilling campaign is strategically focused on near-mine extensional targets, particularly aiming to extend the northern oxide corridor towards the Miranda hard rock target. This approach is intended to grow the mineral resource base and provide critical data to support planning for subsequent mining stages beyond the starter pit.
While the majority of the production target is based on Indicated Mineral Resources, a small proportion includes Inferred Resources, which carry a lower geological confidence. Cavalier has been transparent about these uncertainties and the inherent risks typical of mining exploration and development.
Looking Ahead
With a probable ore reserve of 29,300 ounces of gold within the Stage 1 pit design, Cavalier Resources is well positioned to advance the Crawford project towards production. The company’s management emphasizes the importance of this extensional drilling phase as a key step in unlocking the full potential of the project and supporting future mine planning.
Investors and industry watchers will be keenly awaiting drilling results that could validate resource expansion and further enhance the project’s economic outlook.
Bottom Line?
Cavalier’s drilling program at Crawford could redefine the project’s scale and value, setting the stage for its next growth phase.
Questions in the middle?
- Will the extensional drilling confirm significant resource growth beyond the starter pit?
- How might fluctuating gold prices impact the project’s financial projections and development timeline?
- What are the key risks that could delay or alter the planned mining stages at Crawford?
