Carnavale Secures Mining Lease, Accelerates Kookynie Gold Project to Shovel-Ready Stage
Carnavale Resources has been granted the crucial mining lease for its Kookynie Gold Project, paving the way for a shovel-ready status by Q3 2026 alongside ongoing feasibility studies and drilling campaigns.
- Mining Lease M40/362 granted for Kookynie Gold Project
- Bankable Feasibility Study (BFS) underway, targeting Q3 2026 completion
- JORC-compliant gold resources total approximately 842,300 ounces
- Ongoing RC and diamond drilling to support project development
- Statutory approvals expected by Q3 2026, enabling mine commencement
Mining Lease Granted, A Key Milestone
Carnavale Resources Ltd has achieved a significant step forward with the granting of Mining Lease M40/362, which encompasses all known resources of the Kookynie Gold Project (KGP) in Western Australia. Located strategically between Leonora and Kalgoorlie, this lease consolidates the project's core tenements and infrastructure footprint, setting the stage for accelerated development.
Advancing Towards a Shovel-Ready Project
The company is currently conducting a Bankable Feasibility Study (BFS), with reverse circulation (RC) and diamond drilling actively underway to refine resource estimates and optimise mine planning. Carnavale’s CEO Humphrey Hale emphasised the importance of this milestone, noting that the mining lease grant keeps the project on track to become shovel-ready by the third quarter of 2026. This timeline aligns with expectations for statutory approvals, which are anticipated to be secured within the same period.
Robust Resource Base Underpins Development
The Kookynie Project hosts a substantial JORC-compliant gold resource estimated at approximately 842,300 ounces, spread across the Swiftsure and Tiptoe lodes. These resources combine measured, indicated, and inferred categories, providing a solid foundation for the BFS and subsequent mine design. The granted lease area includes provisions for essential infrastructure such as waste dumps, crushing facilities, workshops, and offices, which are critical for operational readiness.
Strategic Tenement Consolidation and Exploration Upside
Alongside the mining lease, Carnavale has amalgamated surrounding exploration tenements, including E40/355, enhancing the project’s exploration potential. The company has also secured access routes via a miscellaneous licence application, facilitating ore transport options to third-party processing facilities. This strategic consolidation not only streamlines regulatory processes but also positions the project for potential resource expansion.
Looking Ahead, From Feasibility to Production
With the BFS scheduled for completion in Q3 2026, Carnavale is poised to transition from study to development, contingent on receiving the necessary statutory approvals. The ongoing drilling campaigns aim to de-risk the project further by confirming high-grade zones and optimising mining scenarios. While forward-looking statements carry inherent uncertainties, the current trajectory suggests that Kookynie could soon join Western Australia’s roster of operational gold mines.
Bottom Line?
Carnavale’s mining lease grant and BFS progress set the stage for a pivotal year ahead at Kookynie.
Questions in the middle?
- Will the BFS confirm economic viability and support financing plans?
- How might ongoing drilling impact resource classification and mine design?
- What are the timelines and risks associated with obtaining final statutory approvals?
