Carnavale: first results from Frei Martinho moly project

Carnavale Resources Ltd announced the first drilling results on its Frei Martinho molybdenum project in the northeast region of Brazil.
The 2,000m phase 1 diamond drilling program was concluded in February 2008 with 2,046m drilled on 18 diamond drill holes.
Best results include 0.226% Mo over 2.67m in hole FMD-009-07 from 89.98 m and 0.019% Mo over 62.40m in hole FMD-006-07 from 8m. While inconsistent analyses was detected by the QA/QC control and several samples had to be submitted for duplicate checking, the company is confident of the analytical method used and believes further results should be available more quickly.
Acquisition of New Properties:
The geological knowledge acquired during the Phase 1 diamond drilling program, in conjunction with the regional fieldwork led to a decision by the Company to acquire an additional land package which includes six exploration licenses in the region and applications for five exploration leases which increased the project size from 12,790 hectares to 34,607 hectares. . An aggressive exploration program will be immediately developed in order to delineate new drill targets on these properties.
Source: 17 June 2008 ASX Announcement