# De Grey’s golden legacy is alive and well at WA developer Carnavale Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--8e10c24d-1f6f-4a08-b35b-518ce085c65a 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: 2026-09-16T21:07:54.583Z Atlas analysis updated: 2026-09-16T21:07:54.583Z - Company: Carnavale Resources - Ticker: CAV - Exchange: Unavailable - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-16 21:07:55 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Carnavale Resources is progressing its Kookynie gold project, which features a high-grade resource including a 29 g/t Au bonanza zone. The project is being developed by former De Grey Mining leadership and is nearing a feasibility study for the Swiftsure deposit. Reasoning: The document details a high-grade gold resource at the Kookynie project with a significant bonanza zone, though it is a smaller-scale project. - Positive factor: High-grade bonanza zone identified - Positive factor: Significant M&I component \(67%\) - Positive factor: Proximity to existing infrastructure - Negative factor: Relatively small scale compared to major discoveries Facts used in scoring: 3 ## Classification and evidence **Bonanza Intercept** Polarity: positive Story-specific tag Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The mining plan includes a 29 g/t Au zone. Evidence · text > bonanza zone of 60,000t at 29g/t Au **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 ## 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-staging.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--8e10c24d-1f6f-4a08-b35b-518ce085c65a#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:4a9a11d99c818a27d7b1 - 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: Represents the core resource for the Swiftsure and Tiptoe deposits. - Positive factor: Strong grade for the project 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-staging.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--8e10c24d-1f6f-4a08-b35b-518ce085c65a#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:dcb1e2462b6eebcb1484 - Mining method: combined #### 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: Describes the open pit portion of the resource. - Positive factor: Open pit material starting near surface 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-staging.minestarters.com/news/de-grey-s-golden-legacy-is-alive-and-well-at-wa-developer-carnavale--8e10c24d-1f6f-4a08-b35b-518ce085c65a#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:d1153a599ac6954e531d - 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 within the resource. - Positive factor: Bonanza grade intercept 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.