Carnavale Resources Ltd. provided an update to its exploration activities at the Ora Banda South Gold Project. CAV has commenced the first program of RC drilling at the Carnage Prospect following up on excellent high-grade gold results from CAV aircore drilling in the regolith. Previous significant results from CAV aircore drilling at the Carnage Prospect include: 4m @ 30.20g/t from 44m in OBAC413; 7m @ 5.95g/t from 80m in OBAC379 (ends in mineralisation); 8m @ 2.74g/t from 48m in OBAC089; 4m @ 2.69g/t from 36m in OBAC306; 12m @ 0.43g/t from 44m in OBAC406; and 12m @ 0.33g/t from 40m in OBAC435.

Commencement of a 10 hole, wide-spaced 2,000m RC drilling program targeting the 2.1km strike extent. Favourable geology to host a significant gold deposit, with major shear structures crosscutting a sedimentary basin with an identified felsic intrusion that correlates to a substantial regolith gold anomaly identified by CAV in aircore. Prospective geochemistry in arsenic, tin, tungsten and bismuth that correlates with the best gold anomalism suggesting an intrusion related source for the gold system.

The best gold anomalism identified in the saprock profile at the Carnage Prospect is overlain by a significant gold anomaly in the transported material, interpreted to be derived from the local, primary bedrock gold source. Analogous geological setting target to the +2.5Moz @ +4g/t Invincible Gold Mine, discovered by Gold Fields Limited near Kambalda in 2012. Aircore drilling by CAV at the Ora Banda South Gold Project has identified gold anomalies and structural targets under alluvial cover.

The aircore drilling programs confirmed the prospectivity of the Carnage Shear along the 15km long tenement package. Three new gold prospects were identified in CAV's earlier aircore drilling that contain high-grade gold intercepts. This first RC drilling program is targeting the substantial anomaly at the Carnage Prospect.

To date, aircore has been drilled on wide spaced lines, across the new gold prospects with holes drilled on 40m to 80m drill centres. From this drilling CAV has gained an improved understanding of the geology and structure as well as the depth of weathering within the regolith profile across the tenement package. This knowledge has refined the targeting process for RC drilling at Ora Banda.

The initial RC drilling program at Ora Banda is planned to be a wide spaced 100m x 200m program targeting the central part of the Carnage Prospect gold anomaly. The exploration aim at Ora Banda is to discover a large-scale gold deposit within the sedimentary package on the Carnage shear analogous to the St Ives Discovery. Carnage Prospect The geology of the Carnage prospect is dominated by a sequence of sedimentary rocks crosscut by the Carnage Shear.

The area is overlain with a layer of transported material that is up to 40m in places. The transported cover has prevented any surface sampling, such as soils or auger sampling, from being effective at detecting concealed gold anomalism in earlier exploration. The Carnage Prospect has a confirmed gold anomaly that has a strike length of 2.1km long within the Currawong sediment package along the Carnage shear, that is open to the northwest, south and southeast.

The mineralisation at Carnage is interpreted to be orientated northwest along the Carnage Shear and is modified to have a more north-south trend by the geology. Both trends are evident within the interpreted gold contours and geochemistry. Carnavale has systematically explored the Ora Banda Gold Project with surface sampling, where appropriate, and carefully planned, sequential aircore drilling to discover gold anomalies under cover.

Gold mineralisation has been intersected in both the transported material and the residual saprolite and saprock. The gold anomalies in the transported material are spatially related to the bedrock mineralisation as can be seen in plan and cross section. CAV have interpreted that the gold anomalism in the transported horizon is derived from the primary bedrock source beneath.

This provides an additional vector to identify further mineralisation at depth with the RC program. The high-grade mineralisation of 4m @ 30.2g/t in OBAC413 appears to be related to the sediment mafic boundary and it is interpreted that a gold bearing structure is present at this interface. This high-grade zone provides will be tested by the RC program.

In section C-D through Carnage the high grade in OBAC379 ended in mineralisation with an intercept of 7m @ 5.95g/t. This intercept is surrounded by strong gold anomalism both in the residual saprolite and the transported cover overlying and adjacent to it. This shallow bedrock gold mineralisation will be tested by RC drilling to unlock the potential fresh rock mineralisation at depth. As part of CAV's detailed exploration, CAV has collected detailed geochemistry along with the gold within the assay suite.

This multi-element geochemistry has demonstrated that the gold anomalism at Carnage is coincident with arsenic, tin, tungsten and bismuth, indicating a possible intrusive related source for the gold mineralisation. Central and north of the Carnage prospect, CAV has identified a fractionated felsic porphyry and granophyre intrusion that is interpreted to influence the strike and morphology of the gold anomalism intersected in the CAV aircore. The intrusive felsic porphyry and granophyre rock package provides for a rheological contrast that could provide a preferential host to focus gold mineralisation at the Carnage Prospect.

Within the sediment package adjacent to the Carnage Shear structure, CAV has also identified a conglomerate sequence that strikes northwest/southeast, within the intermediate sediments, that is spatially associated with the regolith gold mineralisation. The conglomerates may also prove to be a favourable host for gold at depth. The bottom of hole geochemistry, in bismuth and arsenic is associated with the gold mineralisation.

The bismuth appears to be related to the contact of the intrusion and the shear structures associated with the major gold anomalism, the arsenic profile aligns with the gold and the sediment package close to the Carnage Shear structure. The tin anomalism is associated with the main shear structures adjacent to the intrusion and also is spatially synchronous to the gold anomalism found at Carnage. The tungsten anomalism is more proximal to the intrusion with leakage along the shear structures that are interpreted to host the gold mineralisation.

This combination of geochemistry suggests that the differentiated felsic porphyry intrusion within the sediment system is associated with the gold mineralisation.