Carnavale Resources Ltd. provided an update to its exploration activities at the Ora Banda South Gold Project. CAV has completed 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; 12m @ 0.33g/t from 40m in OBAC435.

Completed 9 holes of wide-spaced RC drilling for 1,841m program targeting the 2.1km strike extent. Favorable 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. Results are expected in January 2023.