Significant high grade iron enrichment at Parmegiana

Rock chip sampling at Carnavale Resources’ Parmegiana Iron Ore Project in....

  Rock chip sampling at Carnavale Resources’ Parmegiana Iron Ore Project in Brazil confirms high grade surface iron enrichment for more than 6km strike. The enrichment may be up to 90m thick.Assay results for 51 rock chip samples collected from 6 north-south orientated lines, typically at 1km spacing, along the Central northern iron ore ridge suggest that the high grade (>60% Fe) unit may be up to 90m thick (for average dip/ dip direction of 60 o /191o). These results follow on from the initial results released to the ASX on 20 August 2007 from the company’s exploration program of mapping, rock chip sampling and ground magnetic survey across the 32km of strike length of high grade Fe-ore units in the Northern sector of the company’s tenement package.A diamond drilling program is planned to commence in the December 2007 quarter to test the true thickness and depth potential of the high grade Fe unit along the 32km of strike extent of the Parmegiana Project.Carnavale Resources Ltd is a mineral exploration company listed on the Australian Stock Exchange and on the Frankfurt Stock Exchange with its registered office in Balcatta, Western Australia. The main focus of the company is the acquisition and development of gold and copper projects in Brazil. Brazil is a country that currently yields many resource projects and has a great exploration potential for many more projects. Carnavale Resources Ltd’s goal is to analyze the exploration possibilities for gold and copper within two projects for which it has acquired the rights for exploration.Carnavale Resources Limited has established two 100% owned subsidiaries in Brazil: Carnavale Resources Mineracao Ltda and Carnaval Recursos Minerais E Mineracao Do Brazil Ltda.Carnavale’s Board has substantial experience in mineral project identification, evaluation, acquisition and exploration in Brazil.