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REFINING THE GOLD STANDARD abcrefinery.com

Located 100km south of Meekatharra, Barracuda is showing head of greenfields exploration at AngloGold and the Hemi
early signs of joining PGM prospectivity. Four rock chip discovery with De Grey. I have built the Hemerdon tungsten-
samples taken in April returned values of 3.45 g/t 4PGM, tin mine in the UK.
3.39 g/t 4PGM and 12.55% chrome. “There is really strong interest in that type of exploration story
“It is new, underexplored and could be a Tier 1 discovery,” right now. There is good funding in the market for greenfields
Hale said. “It is a large layered igneous complex sticking exploration and new models following the success of
out of the ground. There has been no VTEM over it and the De Grey, Chalice and Lefroy Exploration [Ltd]. These are
complexity under the surface is unknown. For $75,000 we investors who have made money out of those companies
can undertake a VTEM survey and have an answer as to and are prepared to go again.”
what it may be very quickly. So, it provides an opportunity Back at Kookynie, both Hale and Fowler spy potential to
to look at it.” build a camp-scale proposition.
If the VTEM survey offers encouragement, Carnavale could “There is real opportunity for all the players around Kookynie
eventually boast links to the two biggest exploration success to make new, game-changing discoveries and that is
stories of the last 18 months. certainly what we want to do,” Fowler said. “That has always
“Barracuda is big enough and underexplored enough to been the rationale behind building a standalone operation
host something like Julimar,” Hale said, referencing the at Ulysses. It affords us an opportunity to control the whole
PGM discovery which has sent Chalice on a similar growth district.”
trajectory to De Grey.
Hale said investors were warming to Carnavale and its
directors’ track record.
“It goes back to the level of success of the individual people,”
he said. “Andy Beckwith has had success at AngloGold
Ashanti [Ltd], Westgold Resources and its Rover discovery
and now De Grey. Allan Kneeshaw’s CV includes time as

Hale talks company secretary Paul Jurman through the
exploration strategy

Visible gold peeks out from the aircore samples at Kookynie

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