Carnavale Resources ("Carnavale") has joint venture rights to earn up to 51% of the Red Hills Project from Columbus Gold by incurring $2 million in expenditures by August 2016.
Carnavale can earn an additional 24% (totaling 75%) by incurring an additional $7 million over four further years.
The recent RC drilling program of four holes has successfully defined polymetallic Ag-Au- Pb-Zn mineralization hosted in the Rattler Shear Zone (RSZ), in three of the holes, beneath a zone of highly anomalous soil sampling results coincident with a number of historic underground mine workings at the Rattler Prospect.
Rattler Shear Zone mineralization remains open in all directions and other targets remain open or totally untested:
High-grade polymetallic potential within Rattler Shear Zone
Adjacent Tiger Anomaly remains untested by any drilling
Supergene weathering processes suggest potential for higher-grade mineralisation may occur in fresh rock.
As reported by Carnavale, next steps include advancing BLM drilling approvals to allow drill testing to extend mineralisation along strike and down dip within the Rattler Shear Zone and initial testing of the parallel Tiger targets.
