# De Grey’s golden legacy is alive and well at WA developer Carnavale Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--669207d6-e80c-484c-a6b8-2206f8686a12 Original source: https://stockhead.com.au/resources/de-greys-golden-legacy-is-alive-and-well-at-wa-developer-carnavale/ Publisher: stockhead Original announcement: 2026-09-16T20:30:08.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Carnavale Resources - Ticker: CAV - Exchange: Unavailable - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Economic study - Extracted: 2026-09-16 21:02:14 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Carnavale Resources is advancing its Kookynie gold project in Western Australia, leveraging a team with significant De Grey Mining experience. The project features a high-grade resource of 855,000t at 4.4g/t Au, including a 29g/t Au bonanza zone, and is currently progressing toward a bankable feasibility study. Reasoning: The document details a high-grade gold resource at the Kookynie project with significant M&I confidence and mentions an ongoing feasibility study, though the scale is relatively small compared to the De Grey legacy discussed. - Positive factor: High-grade bonanza zone identified - Positive factor: Strong M&I component \(67%\) - Positive factor: Proximity to existing infrastructure - Positive factor: Progressing toward bankable feasibility study Facts used in scoring: 4 ## Classification and evidence **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: 67% of the resource is in the measured and indicated categories. Evidence · text > 67% of that in the measured and indicated categories **Bonanza Intercept** Polarity: positive Story-specific tag Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: A bonanza zone of 29g/t Au is explicitly mentioned. Evidence · text > bonanza zone of 60,000t at 29g/t Au **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: The team is progressing a bankable feasibility study. Evidence · text > progress a bankable feasibility study for Carnavale’s high-grade Kookynie gold project ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--669207d6-e80c-484c-a6b8-2206f8686a12#fact-resource-facts-0) Kookynie · gold #### Identity - Project: Kookynie - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: CAV #### Resource scope - Estimate type: resource - Resource group id: resource:3d04d3db9512a61e77ed - Deposit or zone: Swiftsure and Tiptoe - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 855000 - Grade: 4.4 - Grade Unit: g/t - Contained Metal: 120000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: Strong grade and high M&I percentage for a junior developer. - Positive factor: High grade \(4.4 g/t Au\) - Positive factor: Significant M&I component Evidence · text > Swiftsure and Tiptoe deposits, which now contain a resource of 855,000t at 4.4g/t for 120,000oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--669207d6-e80c-484c-a6b8-2206f8686a12#fact-resource-facts-1) Kookynie · gold #### Identity - Project: Kookynie - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: CAV #### Resource scope - Estimate type: resource - Resource group id: resource:12776139fcf2551e2ca8 - Deposit or zone: Swiftsure \(open pit\) - Mining method: combined - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 409000 - Grade: 3.9 - Grade Unit: g/t - Contained Metal: 52000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: Identifies the open pit oxide component of the resource. - Positive factor: Shallow oxide material Evidence · text > 409,000t at 3.9g/t for 52,000oz sits in open pit material #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--669207d6-e80c-484c-a6b8-2206f8686a12#fact-resource-facts-2) Kookynie · gold #### Identity - Project: Kookynie - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: CAV #### Resource scope - Estimate type: resource - Resource group id: resource:44804716a3f5c96d39e2 - Deposit or zone: bonanza zone - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 60000 - Grade: 29 - Grade Unit: g/t - Contained Metal: 56000 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: High-grade bonanza zone provides significant project value. - Positive factor: Exceptional grade \(29 g/t Au\) Evidence · text > bonanza zone of 60,000t at 29g/t Au for 56,000oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.